Umbrella Company UK is a leading Umbrella Company and we help hundreds of contractors get paid on time and in full compliance with HMRC. If you have any questions, please call our friendly team on 01707 669023 or use the short form on this page.
Using an umbrella company is a safe, compliant and easy way to get paid as a contractor. However, there are some obvious advantages and disadvantages of umbrella companies that you should be aware of.
Getting paid by an umbrella company is easy
An umbrella company may sound complicated and you may have reservations about using one for your payroll. However, all you need to do is email your signed timesheet to your Account Manager and providing your recruitment agency pays the umbrella company on time, you should receive your pay without any complications. The umbrella company will pay you via PAYE – subtracting their agreed margin along with the necessary tax and National Insurance contributions.
We’ll discuss the advantages and disadvantages of using an umbrella company. If you would like to speak to an Umbrella Company UK professional, please call us on 01707 669023 or complete the short form on this page. We’re here to offer you impartial and informative advice.
Advantages of using Umbrella Company UK
- It is the easiest way for contractors to get paid.
- Your administration will be minimal and you’ll receive ongoing support.
- You can sign up on the same day within 10 minutes.
- An umbrella is perfect for short-term contractors, those working in the public sector and private sectors
- No Unpleasant Surprises are there are no hidden joining or leaving fees.
- You get Employee Benefits including Statutory Sick Pay.
- You’ll receive £25 million insurance – for free!
- Our state-of-the-art app will make your life easier.
Disadvantages of using an umbrella company
- Not the best way to maximise your pay as a contractor.
- You will not have the option to pay yourself with a low salary and dividends, as if you were a limited company contractor (subject to your IR35 status).
- You will have minimal control of your finances because you’ll become an employee of the umbrella company. You will simply receive your pay and a pay statement (although some contractors prefer this simplistic approach!)
- Because your control over your finances are limited, you’ll have to rely on your agency and umbrella company to ensure you’re paid on time.
What is the best option for you?
Every contractors’ circumstances are different and therefore, we recommend you discuss your options with an Umbrella Company UK professional for impartial and reliable advice. If you decide to use Umbrella Company UK, you will be in safe hands. If you decide you’re better off using a contractor accountant, we can help you get in touch with the best accountancy providers in the market. Please contact us.
Please call an Umbrella Company UK professional today for some impartial advice. You can call us on 01707 669023 or contact us via the form on this page.