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Gorilla Accounting, specialist Contractor and Freelancer accountancy firm, launches new umbrella company for flexible workers, following changes to the sector.

The technology-driven, accountancy firm for Contractors and Freelancers rapidly faced unprecedented growth since grounding their feet firmly into the competitive sector of contractor accountancy in 2014.

Following their success, Gorilla Accounting have launched a new umbrella business which will offer an alternative operating solution for self-employed workers.

It is expected to attract more jobs to the Lostock-based firm, which currently employs a growing number of over 25 members of staff.

Chancellor Philip Hammond, announced in the Spring Budget that the IR35 status of public sector contractors (PSCs) will now be determined by the public-sector body, rather than the contractor.

IR35 legislation targets ‘disguised employment’, which is when a self-employed worker carries out the same work as an employee, but avoids paying the full tax as an employee would. If you are caught under IR35, you will be required to pay Income Tax and NIC.

Gorilla Payroll will allow contractors to run their contract through the payroll service. They will essentially become an employee of the umbrella company, which will function as an intermediary between the end-client and the contractor.

The umbrella company will automatically deduct Income Tax, NIC and provide employment rights which contractors are not traditionally entitled to, making it a suitable platform for PSCs.

Daniel Fallows, Director of Gorilla Payroll, said, “The latest changes in the sector, as announced in the Spring Budget, are massively affecting the way contractors operate, especially those in the public sector.”

“We are welcoming change and adapting our service offering to provide the best possible solution to flexible workers across the country.”

Gorilla Accounting have recently been shortlisted for two prestigious E3 Business Awards 17, under the category of ‘High Growth Business of the Year’ and ‘Professional Firm of the Year’.

Join Gorilla Payroll here, or get in touch with a member of our New Business Team by calling 0330 024 0406 or email info@gorillaaccounting.com.