Using an Umbrella Company removes the stress of running your own limited company. At Umbrella we ensure you are 100% Compliant while also ensuring your net earnings are maximised by processing valid business expenses. Tax saving are also available through Umbrella Group Pension and Child Care Vouchers. We are happy to discuss all options with you: Umbrella Company, Own Limited Company or PAYE by your agency. Our net pay calculator can help you decide if an Umbrella Company is best for you.
Why an Umbrella Company?
What is a PAYE Umbrella Company?
By joining our Umbrella Company you become a flexible employee of Umbrella-Company Limited. You then benefit from the statutory rights of employment and can be assured that all your invoicing, PAYE and National Insurance are taken care of leaving you free to concentrate on your current and future assignments. At Umbrella we are here to support you every step of the way.
Benefits of a Contractor Umbrella Company
You benefit from statutory sick pay, maternity pay and employment rights.
You can benefit from a tax efficient Group Pension Scheme and Childcare Vouchers.
You can be reimbursed for valid expenses (subject to conditions) tax free. Normally travel and subsistence incurred when working at a temporary workplace.
You retain the flexibility and higher earnings potential of working as a contractor or freelancer.
Umbrella take care of your invoicing, collecting monies due and paying you after accounting for Expenses, PAYE and NICs.
No stress of running your own limited company i.e. Directors Responsibilities or IR35 concerns.
Umbrella Company v Limited
Operating your own Limited Company means more responsibility than working through an Umbrella Company but also higher earnings potential. Umbrella would act as your contractor accountant ensuring that your accountancy and taxation requirements are met with the minimum of stress. Umbrella are happy to run through a comparison of Limited Company v Umbrella Company including a net pay calculation and the day to day workings. At Umbrella we act as Contractor Accountants for many professions including IT Contractors, Engineers, Locums and Doctors.
Comparison of working through an Umbrella Company or Running your Own Limited Company
With a Contractor Umbrella Company you submit a weekly or monthly timesheet and expenses claim and Umbrella take care of the rest.
Running your own limited company does come with more responsibilities and obligations but also generally offers much higher rewards. At Umbrella Accountants we aim to make the extra effort as painless as possible.
Your decision can depend on many factors: The type and variety of assignments, your pay rate, do you see yourself contracting for the short or long term, your attitude to additional responsibility and paperwork.
The good news is at Umbrella we can run through these in full with you and our Umbrella Company Pay Calculator will let you compare the difference in your take home pay of both options or being paid PAYE by your agency.
Umbrella Accountants are accredited for both FreeAgent and Xero cloud based accounting software and will happily discuss or demonstrate both products.
More About Umbrella.co.uk
Umbrella provide best value and compliant Umbrella Company Service, Limited Company Accountancy Services and Business Support Solutions to over 3,000 contractors and freelancers. We are adaptable and flexible to meet a recruitment agency's needs and operational processes ensuring contractors are paid accurately and on time, every time.
We are one of UK’s largest umbrella companies and contractor accountants As a Professional Passport approved member and an APSCo affiliate member and approved service providers we are subject to an annual external compliance review.
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