Using an umbrella service

Are you a contractor working through an agency? If so, an umbrella service  will handle the paperwork and tax worries relating to your temporary or contracted work, leaving you free to get on with the job.

Umbrella services from PayStream

My Max is the maximum service, minimum hassle umbrella service from PayStream. My Max is an employer for agency contractors on fixed-term contracts, which means that PayStream invoices the agency (or client) on your behalf and then pays you through PAYE.

PayStream also offers a “single person” umbrella service called My PAYEsafe.

Why use an umbrella service? 

• An umbrella company will handle all your paperwork: accounts, invoicing, tax returns, VAT returns, etc.
• Tax is deducted at source, so there are no unexpected bills at the end of the year.
• You are legally an employee of the umbrella company, so you don’t need to worry about IR35 compliance or MSC legislation.
• As an employee, you also have full statutory employment rights.
• Tax-deductible expenses are claimed on your behalf and offset against your income, so you maximise your take-home pay.
• You may find that agencies pay you a slightly higher rate.   

How much will I take home with My Max?

The calculator will help you work out how much you could save by having all your deductible expenses processed and set against tax. 

Expense processing is part of the basic My Max umbrella service. 

What do I do next?

If you’d like to find out
more, there are plenty of
ways to get in touch.

Call us on 0800 197 6516
Ask us to call you,
or book a free quote
with no obligations.