Umbrella Company Director
Start contracting immediately with our free, fast Umbrella Company set-up. As a Director of an Umbrella Company you can maximise your take-home pay with our proactive expenses, and tax-saving advice.
Once you’re registered (just one simple form) Contracting PLUS will manage all your administration from invoicing, expenses, payroll, tax affairs, and accounts – all included in the affordable monthly fee (which is a tax-deductible expense!)
As a Director of an Umbrella Company, you must file an annual Tax return, however, we will do this for you, and if you’re using the service for 6 months or longer, it’s included in your monthly fee.
We work to keep you and your Umbrella Director Company fully tax compliant while providing you with the best advice to build wealth for your future.
Very simply, being an Umbrella Company Director is a fast and convenient accountancy solution which allows professional contractors in Ireland be up and running as a self-employed contractor on the same day.
You get almost all of the benefits of being a director of a limited company without the same expense and administration involved in setting up your own limited company.
The Umbrella Company Director solution allows you to avail of claimable business expenses and tax benefits that are not available to PAYE workers, which means that you are maximising your income.
You can jump in and out of an umbrella company as and when you need to. When you work with Contracting PLUS, Umbrella Companies are free to join, there are no sign up fees and no leaving fees.
Under the Umbrella Director solution, you contribute Class S PRSI. While this may affect your PRSI benefits, the Government has been moving to equalise benefits paid to both employees and self-employed contractors.
Class S PRSI means you are still making contributions towards;
As a Contracting PLUS Contractor, you get way more than just an Umbrella Company.
Check out Contractors Hub for more details on all the added benefits of choosing to work with Contracting PLUS
Directors of umbrella companies can claim various expenses. These can include membership fees, office supplies, broadband charges and more. It’s important to understand these deductions, and that’s where we come in. Our expenses for contractors page can provide clarity on what business expenses are claimable, helping you to maximise your tax efficiency.
Deciding between being a director of an umbrella company or having a personal limited company? Both have tax benefits, however the option you should go with greatly depends on your circumstances. Book a call with our team, they can help you evaluate both options to see what’s best for your contracting career.
An Umbrella Company Director solution is a company that is already setup, insured, VAT registered, named, and has a bank account in place. It acts as a vehicle that allows you to get paid in a compliant manner when operating as a professional contractor and it simplifies administrative tasks, allowing you to focus on your work. If you are considering contracting in the medium to long term, an umbrella company director solution allows you more tax benefits than the Umbrella PAYE solution. If you would like to know more book a call with a member of our team.
Under the Umbrella Company Director Solution you can’t buy a company car. However, if this is a priority for you, a Personal Limited Company may be a better option for your contracting career. Setting up your own Personal Limited Company is ideal for those who want to buy assets (such as a company car), retain funds in the company or employ a staff member. Read more about why you should setup a personal limited company.
If you have any questions relating to Professional Contracting please contact our team on 01 6110707
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