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In the world of freelance and contract work, navigating taxes, invoices, and legal requirements can feel like a complex labyrinth. This is where umbrella companies step in, offering a streamlined solution for both contractors and the organisations they work for Understanding Umbrella Companies Imagine an umbrella company as a protective shield, encompassing both contractors and […]

Rocket Paye is thrilled to announce its recent achievements, marking a significant milestone in our commitment to excellence and compliance. In the span of just one month, we have successfully obtained two prestigious certifications—SafeRec and Professional Passport Accreditation. These certifications underscore our dedication to ensuring the highest standards of professionalism, transparency, and compliance in our […]

As 2023 comes to a close, we want to reflect on a year filled with remarkable achievements, The journey through the past 12 months has been great for Rocket Paye, with a series of accomplishments that underscore its commitment to innovation and client satisfaction. 2023 Contracting Awards Triumphs Rocket Paye proudly stands as a beacon […]

As autumn leaves fall and the temperature drops, the financial landscape in the UK experiences its own season of change with the release of the Autumn Statement. The eagerly anticipated update, presented by Chancellor Jeremy Hunt last week, outlined the government’s fiscal plans and economic policies. It’s important for Businesses and Workers to understand the […]

Umbrella companies play a crucial role in the UK’s flexible labour market. They provide a convenient way for contractors and agency workers to receive their pay, manage their taxes, and simplify their financial affairs. Rocket Paye stands out as an umbrella company you can trust, ensuring that your financial well-being and employment rights are protected. […]

In the ever-evolving landscape of employment and payroll services, the need for clear and comprehensive regulation has never been more apparent. At Rocket Paye, we are determined to be an umbrella company that raises the industry’s standards through active participation in the umbrella consultation process. Let’s delve into the significance of umbrella consultations and how […]

Construction Industry Scheme Guide In the complex world of the construction industry, compliance with regulations is paramount to ensure smooth operations and avoid potential legal pitfalls. One such critical aspect is the Construction Industry Scheme (CIS), designed to regulate payments and deductions for subcontractors and contractors within the construction sector. In this blog post, we’ll […]

Why Use an Umbrella Company? In the ever-evolving world of work, the rise of the freelance culture has been remarkable. Contractors and freelancers are becoming increasingly popular as they offer flexible work arrangements, specialised skills, and cost-effective solutions for businesses. However, managing finances, taxes, and administrative tasks can be overwhelming for independent contractors. This is […]

The Apprenticeship Levy was introduced in April 2017 and is a form of taxation designed to help companies offer more apprenticeships. The Levy is a small tax charge usually 0.5% of the gross earnings. Prior to the Levy being introduced, there was an extended dialogue between recruiters, umbrella companies and HMRC regarding an exemption to […]

Pay As You Earn (PAYE) is not exactly a tax, but rather a sophisticated system for collecting income tax from earnings. The main concept is that the employees have to have the correct amount of tax deducted from their earnings payments during the tax year, which runs from 6 April of one year to 5 […]

Self-Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax, which is usually deducted automatically from wages, however self-employed workers must report it in a tax return. It is important to understand how to prepare for a Self-Assessment tax return, which can be quite daunting, so you can file it correctly […]

What are expenses and how to submit them? Traditionally umbrella company employees enjoyed tax and NIC relief on their home to work travel expenses, due to the special type of employment contract they worked under. It is crucial to understand that the rules on what travel expenses qualify for tax relief are quite strict. There […]