Any of us are easily tempted by the chance to get more, particularly when it comes to money. It is this natural temptation that attracts many contractors and freelancers to do things that if they were thinking logically, they would never dream of doing.
“90% return on your contract value”
“Totally compliant solution”
“Take home more of your hard earned money with our QC backed solution”
These are all statements we read on a daily basis in advertisements from companies that want us to believe they are compliant providers of accountancy and umbrella services for contractors. But we need to remember the old adage – “If it sounds to good to be true, it probably is”
Lets think about it. The lowest income tax rate in the UK is 20% and if you earn over £31,786 per year, the rate rises to 40%. On top of tax, you are also required to pay National Insurance contributions of 12%. So, how on earth can a provider give you 85% to 90% of your gross income after tax, especially as they also need to earn some money out of the deal, typically around 5%?
One Click Group
We are totally UK based and have no connections offshore. We don’t make over-inflated promises of returns but we do promise to give you a great service and peace of mind.
Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.