The government recently issued updated guidance surrounding the Coronavirus Job Retention Scheme (CJRS), outlining how it will change over the coming months. Here’s a brief summary of the developments most likely to affect you, our contractors: • The CJRS will continue in its current format until the end of July, but will close to all […]…
Danbro are pleased to confirm that we will be basing all furlough payments on 80% of taxable pay. Our clients have been informed and those who have already received a payment from us – calculated at 80% of National Minimum Wage – will have their entitlement recalculated and the difference paid. All others who are […]…
Earlier this week, a new, government-backed loan scheme went live across the country. It aims to help small and medium-sized businesses (SMEs) navigate the financial fallout caused by COVID-19 (Coronavirus). As of Monday 4th May, UK businesses are now able to borrow up to £50,000 – accessible within days – through a government scheme dubbed: […]…
I’d like to pose a question: Could you survive on less than the Minimum Wage – particularly if your regular income is so much more? That’s the grim reality right now for thousands of contractors working through umbrella companies in the UK. Honest, hard-working people with bills to pay and families to feed. I must […]…
As the health emergency surrounding Coronavirus deepens, so too does the economic anxiety experienced by many workers around the country. Not least, umbrella company employees. With thousands of umbrella contractors in the Danbro Family, this is an issue we’re particularly concerned with. So this weekend, Helen Broughton MBE DL, the Danbro Group’s Managing Director, is […]…
This week, as part of a series of measures aimed at shoring up the UK’s economy in the midst of the Covid-19 crisis, the Government launched their ‘Coronavirus Job Retention Scheme’ (CJRS). In an unprecedented attempt to help both businesses and employees affected by the virus’ financial fallout, the scheme will pay a large portion […]…
With schools across the UK set to shut their doors indefinitely this evening, the Government is urging parents to keep their children at home, where possible, to limit the spread of Covid-19 (Coronavirus). However, for vulnerable children and those with parents whose jobs are crucial in the fight against the virus, educational care will remain […]…
The Government has issued fresh guidance to help contractors’ spot non-compliant, tax-avoidance schemes. The information, freely available on their website, aims to help contractors and agency workers identify ‘umbrella’ schemes which wrongly claim to be able to increase your take-home pay. This often means paying less in Income Tax and National Insurance contributions (NICs). Additional […]…
Your tax code is based on the amount of tax you should be paying and the amount you can earn before tax applies. Whatever your employment status, it’s important to know what code you’re on. Whether you’re an umbrella company employee, are self-employed, or if you’re a limited company contractor, you will have a specific […]…
There are two main types of payment structure for self-employed contractors and freelancers. Limited companies and umbrella companies. Both of which offer certain advantages depending on your personal circumstances. This article focuses on the pros and cons of operating a limited company. So, if you need more information on umbrella companies and how they operate […]…
