LTD While there are no minimum contract requirements, we suggest that you intend to contract for at least 6 months before going LTD

UMB There is no minimum period with our umbrella service, so contracts from 1 day to 1 year are absolutely fine for us to set up. You can also leave as and when you need to, and we'll issue an electronic P45 once you have received your final pay. 

LTD You'll need to obtain your IR35 status from your client (or via your agency) in advance of setting up your LTD company. We would only recommend opening a new LTD company for contracts outside IR35. 

UMB If your contract is inside IR35, we would recommend using the umbrella.  This will mean all employment taxes are deducted at source, so you won't need to declare anything separately to HMRC for this income. 

LTD We recommend contractors earning over approximately £50k pa and with a minimum contract of 6 months consider a limited company setup, however please contact our sales team for advice and a projection so that we can assist you in getting the most out of your earnings

UMB From Apr 2021, any pay rate over roughly £11.38 p/h may see you benefit from using the umbrella company

LTD If outside of IR35, then you can keep 70-90% depending on the pay rate and your own circumstances. We'll run a personalised example for you so you have an accurate idea of your take home pay, including self-assessment tax owed at year end. 

UMB Your take home pay will depend on your income level, tax code, and other things like student loans and personal pensions. 

LTD A little bit of admin is required, but our online bookkeeping software allows you to upload bank statements & receipts with ease. We would estimate no more than 1-2 hours per month is required from you. 

UMB You'll need to upload timesheets to our portal - unless your agency self-bill.  All payslips and earnings summaries are available via our online portal. 

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LTD You can save tax by making pension contributions, following certain drawing strategies and you may also benefit from VAT savings from using the flat rate VAT scheme

UMB By making pension contributions you can reduce your tax liability further. We also provide childcare vouchers so parents can still benefit from tax relief on these costs whilst using the umbrella company

LTD Fees start from £99 + VAT per month payable by standing order from your business bank account. There is a one off Company Formation fee of £50 + VAT which includes new company set up, and all HMRC registrations. 

UMB There are no joining or leaving charges, just a fixed weekly or monthly cost depending on your pay frequency. Please contact your onboarding consultant to confirm the value. 

LTD Nasa Consulting's £125+vat pcm service includes business insurance cover for your LTD company under our group policy. We'll issue certificates once you have registered.

UMB All business insurances are included in the admin margin (Employers, Public Liability and PI) so you are covered by Nasa Umbrella LTD when for contracts being paid via our payroll. 

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