Autumn Budget 2024: The Impact on Umbrella Contractors and the Umbrella Industry

Big changes are coming for contractors, recruitment agencies, and umbrella companies

• Employer NICs increase: Rising to 15% in 2025-26, potentially cutting contractors' take-home pay by £1,000+ per year.
• New PAYE rules: From April 6, 2026, recruitment agencies must deduct PAYE directly, reshaping how umbrella companies operate.
• Impact on umbrella companies: Could these reforms significantly reduce their use?
• IR35 updates: Fairer tax liability sharing and opportunities for contractors to use their PSCs.

Discover how the Autumn Budget 2024 will reshape the contractor landscape, with rising NICs, new PAYE rules for agencies, and major changes to umbrella companies and IR35 compliance. Stay informed read more here.