Choosing an umbrella company can often seem daunting. There’s a lot of information online and hundreds of umbrella companies to choose from. Given that all compliant umbrella companies will pay you roughly the same (give or take a few pounds depending on their margin), how do you choose between them?
If you’ve recently secured a new role, you may be given a couple of options for your preferred method of payroll. Most commonly, there are two options: being paid through the recruitment agency, or registering with an umbrella company. Our blog explains the key differences to consider when choosing how to get paid for your temporary assignments.
Whether you’re new to contracting or are a limited company director who may require an umbrella company for future assignments, understanding how an umbrella company works is vital when deciding which provider to use. There is a lot of information that you need to take on board, and we hope the following summary is useful.
Working via an umbrella company offers a no-risk payroll option for contract work, especially if you have never worked as a contractor before, you are caught by IR35, or you prefer a more hands-off approach with your finances. We’ve compiled a list of the benefits of using an umbrella company.
There are plenty of unethical umbrella companies on the market advertising 90% pay retention, and it is more important than ever to do your research and conduct the proper due diligence. Our blog answers the age-old question: what deductions should compliant umbrella companies make to a contractor’s pay?
An umbrella company directly employs contractors and freelancers in the UK and offers a simple and straightforward payroll service. When you register with an umbrella company, they will take care of a majority of the administration – leaving you with more time to focus on your work.
If you are new to contracting, prefer a more hands-off approach to payroll, or are inside IR35 legislation, working via an umbrella company can offer the perfect way to get paid. With so many umbrella companies to choose from how do you know which is the right one for you?
Starting this week, Umbrella Company UK will start processing furlough pay for our eligible clients on 80% of total earnings (up to £2,500.00 per month) – with first payments due to begin this week. We will be backdating payments from March – for those who are eligible.
As things stand, Umbrella Company UK is still unable to offer furloughed leave to our umbrella clients. At such an unprecedented time, we understand that our clients need financial support more than ever before. This is why we are urging the government to provide much-needed clarification on how umbrella companies process Holiday Pay and the Apprenticeship Levy.
On Saturday 4th April, the government released more information on the Coronavirus Job Retention Scheme (CJRS). Interestingly, the updated guidance specifically references “umbrella companies”. While this is positive, there are still plenty of unanswered questions and the FCSA has described the new information as “contradictory”.