Two umbrella companies now face liquidation

Contractors warned to ensure they are operating compliantly and conforming to regulations as two umbrella companies now face liquidation. Sunday Solutions and Bradbury & Co have just gone into liquidation due to the umbrella company not paying tax liabilities on behalf of their contractors. Despite the fact contractors believed they had been paid the correct tax and National Insurance contributions they are now liable for what they owe.
Sunday Solutions and Bradbury & Co. handled an estimated £80m for their 1,500 clients. Although the insolvency company reported that none of the money ended up going towards paying the contractors taxes.

This is brilliant example of why contractors need to background check their PAYE umbrella companies for contractors based on other contractors reviews to ascertain the reliability and integrity the umbrella before they put all their trust in it. Online resources such as Umbrella Detective and Umbrella Supermarket provide an impartial ranking of the best umbrella to join.

Commenting on the Sunday Solutions Scheme case, Insolvency Service Investigations Supervisor Chris Mayhew adds: “Anyone considering using an umbrella tax scheme needs to be confident that they are using a reputable company.”

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