In the UK, an umbrella company employs agency contractors on temporary contract assignments, usually through a recruitment agency. Recruitment agencies prefer to use umbrella companies to reduce their own liability. The umbrella company issues invoices to the client, which when paid, distributes pay to the contractor through PAYE, offsetting some of the income through claiming expenses such as travel, meals, and accommodation. Currently, about 15 percent of UK contractors currently manage their business by working through an umbrella company.
SmartWork’s expenses policy follows guidelines set out by Her Majesty’s Revenue and Customs (HMRC) and is fully compliant with current legislation, including automatic enrolment into a pension plan. The company ensures employees get the most out of their hard-earned income and is also affiliated with partners offering a range of benefits for employees. Each client has an individual service level agreement (SLA) with Smartwork.
An award-winning umbrella solution is providing specialist payroll and accountancy services. Open from 08:00 – 20:00 Monday through Friday and 09:00 – 12:00, the hours are to suit the client. In business for almost 30 years, JSA Umbrella has a wealth of experience and a state-of-the-art online portal for easy submission of timesheets, secure access to payslips and a text to the contractor when they are paid. There is also an employee benefits system with a broad range of retail discounts and special offers.
Churchill Knight Umbrella
Launched in 1998, clients are not charged joining or leaving fees when signing up with Churchill Knight Umbrella. As with any umbrella company, the client becomes an employee of the company which will pay salary through PAYE and calculates tax and National Insurance Contributions (NIC) direct with HMRC, all the company requires is completed timesheets. Employee benefits include Statutory Sick Pay, Maternity Pay, Paternity Pay, and Annual Leave, as well as full insurance, including £10 million Employers’ Liability Insurance, £10 million Public Liability Insurance and £5 million Professional Indemnity Insurance.
Simplify has an affordable weekly umbrella service that is HMRC compliant and uses Faster Payments at no extra cost to the client, who gets the money in their bank account the same day Simplify receive it. You only pay when you are working, and there is no set-up or exit charges. An online portal allows for the quick and easy submission of expense claims, as well as the chance to check payments status, view payslips and more. There is a Personal Account Manager for each client, to ensure take home pay is maximized.
Part of Go accounting, Go Umbrella is a PAYE umbrella company offering freelance individuals, IT, accountancy and engineering Contractors a UK based professional employment service. Payroll is taxed at source, making it fully HMRC compliant as well as giving access to a private pension scheme and healthcare. There are no dividends or contentious loan payments to worry about with GoUmbrella and with a dedicated account manager, there is help with any additional requests, including employer and mortgage references.