A growth of more than 40% in the use of interim and contract workers during the last two years has placed a greater burden on those contracted individuals to deal with tax and other statutory requirements of being self-employed.
Much of this concern can be removed by using a tax, payroll and umbrella company service such as provided by PayMatters. Using the umbrella service, it will invoice, proves expenses and then handle the income while deducting National Insurance, and PAYE contributions, off-set expenses and pay the individual directly.
Peter Langham, Director of Customer Services, says: “The employment market has changed as a result of the economic conditions with companies supporting growth by taking on more interim workers. In the last two years research has shown that there has been a 42% increase in contracted workers.
“For those entering the contract workforce for the first time, it can be a daunting prospect to deal with all the financial and tax aspects involved in being self-employed. All those issues are removed using an umbrella service so allowing them to full concentrate on making a success of their freelance career.”
PayMatters provides each of its customers with an individual account manager to provide a personalised service.
Peter adds: “When clients want to talk about any issues or concerns they want to talk to someone who knows and understands them and their circumstances. Each client has a personal account manager at PayMatters so they are not dealing with a call centre where they speak to someone different every time they call. We have found that this is really valued and helps our clients.”
PayMatters was established in 2008 and it has a team of more than 60 providing its accountancy services.
The company is APSCo accredited, professional passport approved and are business partners with the Institute Of Recruiters (IOR). It prides itself as being fully HMRC compliant from an employers and employees NI, PAYE and expense perspective.
PayMatters is APSCo accredited, professional passport approved and are business partners with the Institute Of Recruiters (IOR). It prides itself as being fully HMRC compliant from an employers and employees NI, PAYE and expense perspective.
