Umbrella contractors warned over ‘ghost payroll’ schemes
A leading compliance firm has warned umbrella company workers to be aware of the latest scam to hit the industry - in the form of 'Ghost Payroll' schemes.
Many contractors – out of choice or necessity – work via PAYE umbrella companies.
This is a low-stress way of getting started as a contractor, although less tax-efficient than working via a limited company.
There are hundreds of umbrella companies out there.
It is crucial that you only sign up to an established UK-based PAYE umbrella, as there are some unscrupulous providers out there.
Use our concise guides to learn how this business structure works in practice, what to look out for, and how to find the best umbrella provider to fit your needs.