News, insights and advice for contractors
Stay tuned to the NWM blog for our latest company news, in-depth industry commentary and insights as well as useful guides on finance and compliance for contractors.
The choice to work around school hours is a big decision when you have a family and an important one to factor into your working life. Missing out on special memories or ‘1st’ moments can be upsetting and can be a cause of regret to many parents later on in life.
Working around the school run has become extremely popular over recent years and when the usual office 9-5 hours don’t hit the mark and many standard 9-5 jobs have become more flexible since its introduction from the HMRC, allowing people who have worked for the same employer for more than 26 weeks to be eligible. However not even this flexibility will work for parents who have a varying home life, working around spouse working pattern or have other circumstance factors.
A high percentage of people who have made the switch to become a contractor have recorded that they are much happier in their jobs - along with improving their mental wellbeing! Others state that their stress levels have decreased too. Being able to do the school run on a regular basis also means extra health benefits for some, with the physical change of being more active, incorporating household chores and family life.
The thought of becoming a contractor may be daunting to some and not knowing the correct procedures or structure to follow as well as the idea of payroll and accounting can scare people from making the change. But working with an umbrella company gives you assurance and peace of mind that you’re not on your own and your admin and finances are being looked after in the process!
At NWM, we offer a hassle-free, straight forward umbrella service for UK contractors and sole-traders.
How does an umbrella company work?Effectively the contractor becomes an employee of umbrella company and will sign a contract to that effect. A client’s assignments will then go through the umbrella company and the umbrella will pay the contractor a wage. This takes away the accounting side of running a small business and provides peace of mind that you will be paid on time and accurately rather than waiting for a client to pay.
A contractor is also then eligible for employee benefits such as holiday pay and comprehensive insurance policies. Assurance that you’ve got the right level of insurance cover while you’re working, and you can enjoy a well-earned break when you need to!
Wondering how much you’ll take home if working through an umbrella company? Check out our quick calculator to find out.
Getting started with NWM is simple. Whether you are a contractor or setting up as a limited company, we can help. Feel free to get in touch for further insights or information. Enjoy your job, enjoy your lifestyle. Be happy!