Why Unified Payroll
Profitable
Unified Payroll offers you the legitimate off-setting of business expenses. HMRC has strict guidelines about the kind of expenses and the circumstances you can legitimately offset. In general terms, if you are at a temporary place of work, and expect to be there for less than 2 years, then the cost of travel to the temporary site, accommodation if you need to stay away from home, subsistence and tools specific to the contractor are all able to be offset against tax.
Unified Payroll does not re-imburse you these expenses, but by offsetting them against tax it means that this part of your income is treated as non-taxable. You benefit from statutory sick pay, maternity pay and employment rights. You can benefit from a tax efficient Group Pension Scheme and Childcare Vouchers. You can be reimbursed for valid expenses (subject to conditions) tax free. Normally travel and subsistence incurred when working at a temporary workplace. You retain the flexibility and higher earnings potential of working as a contractor or freelancer.
You are employed by us, which means IR35 is never an issue, because you pay PAYE/NIC on your earnings and we handle all your specialist contractor accounting administration, including invoicing, tax, VAT and NIC, for a fixed fee. Major benefits of using Unified Payroll are as follows:
Compliance
It removes the stress of running your own limited company. At Unified Payroll we ensure you are 100% Compliant while also ensuring your net earnings are maximised by processing valid business expenses. Tax saving are also available through Umbrella Group Pension and Child Care Vouchers.
We are happy to discuss all options with you: Umbrella Company, Own Limited Company or PAYE by your agency. Our net pay calculator can help you decide if Unified Payroll is best for you.
Day-to-Day admin taken care off
Unified Payroll will take care of the day to day admin for you, such as invoicing your agency for the hours, offsetting your business expenses, end of year tax forms (such as P60).
Unified will take care of your invoicing, collecting monies due and paying you after accounting for Expenses, PAYE and NICs No stress of running your own limited company i.e. Directors Responsibilities or IR35 concerns.
Instant set up
As Unified Payroll is already set up, the process of registering with us is usually quick and straightforward compared to setting up a Ltd Company with Companies House, setting up company Bank Accounts, and getting insurance in place. With our online registration, it takes only a couple of minutes to register with us.
Flexible and Hassle free
Unlike with your own Ltd Company you will have to complete Annual Returns to Companies House, submit company accounts, register for VAT and submit VAT returns (subject to turnover), pay Corporation Tax on any profits of the company, complete Self-Assessments etc, but at Unified Payroll we do all the admin and forward your pay net of PAYE and NI. This is ideal for contractors who want to keep all the advantages of being a contractor in regards to flexibility, yet don’t want the hassle of running their own Ltd Company.