If you’re currently working through an Umbrella Company but want the benefits of running your own Limited Company, then look no further, we can help!
If you’re working through an Umbrella Company you’ll typically take home 67% - 76% of your contract value, compared with around 81% - 86% through your own Limited Company.
The below table outlines overall income and compares take home pay as a Limited company and Umbrella company:
| Overall Income | Limited Take Home^ | Umbrella Take Home^ |
| £30,000 | 25,945 (86%) | 22,964 (77%) |
| £40,000 | 34,153 (85%) | 28,940 (72%) |
| £50,000 | 42,361 (85%) | 34,915 (70%) |
| £60,000 | 50,569 (84%) | 40,322 (67%) |
There are just 3 simple steps to setting up your own Limited Company with Brookson. Our specialist advisors are on hand six days a week† to advise you every step of the way through your self-employed journey.
Our specialist advisors will work with you to incorporate your company through our partner Jordans, which takes approximately 5 minutes over the phone. If you have previously incorporated your company, we can assist you in reactivating it.
We will assist you in opening a busienss bank account with one of our partners; HSBC, Barclays, RBS or Cashplus - which is free, opened quickly and enables us to receive electronic daily* updates of your business bank account, which enables us to advise you based on real time information.
We can provide you with a range of great value business insurance policies, via our partner Kingsbridge Contractor Insurance, which are tailored for your business so you do not end up paying for anything you do not need.
Unlike some other providers that charge additional fees for certain services, Brookson are committed to providing a first class service, which is why, as standard our all-inclusive service includes:
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^ Assumptions: We have assumed that £5,000 of expenses can be claimed across the limited company and umbrella company options and the limited company has joined HMRC’s Flat Rate VAT Scheme at 14.5% and takes a standard directors fee of £204 per week over 52 weeks, working 40 hours.
† Specialist Advisors available six days a week, Monday to Friday, 8am-6pm and Saturday, 9am-1pm. Excludes weekends and bank/public holidays.
* Excludes weekends and bank/public holidays.
