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Umbrella Company alternatives
With Chancellor Geroge Osborne’s attack on them, contractors are now looking at umbrella company alternatives.

These alternatives include:-

Personal Service Companies Рthey are also under attack from the Chancellor too but contractors will still pay £10,000 a year less using them than from using umbrella companies.
Tax Efficient Limited Companies – Contractors can still use their limited companies but they take advantage of existing UK law to save as much tax as possible. Contractors can retain 85% of their money using this method
Limited partnerships Рcontractors have self-employed status here and partner with  a limited company set up by the service provider. Contractors can retain 85% of their money using this method
Offshore umbrella companies – contractors can retain 85% , or more, of teir income this way

[caption id="attachment_879" align="alignnone" width="225"] Umbrella Company alternatives for UK contractors[/caption]

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