You are in safe hands with ContractorUmbrella
In this day and age, with the current state of the economy it is important that, not only are you getting good value for money but also that your money is safe and secure.
A good Umbrella Company will operate a compliant, transparent service that won’t put your money at risk. If you value security, you will want to avoid high risk and all of the following:
Companies advertising artificially inflated expenses
HMRC are watching Umbrella Companies closely so beware of any offering daily allowances for seemingly just going to work each day. Daily allowances are pushed to mislead contractors into believing that they will take home more money with that particular company. HMRC are currently reviewing the situation and it is only a matter of time before they come down heavily on companies who aren’t following expense guidelines. These companies are likely to have their dispensation revoked.
More worryingly, if a company is audited by HMRC, it would also highlight contractors using their services who have underpaid their taxes!
ContractorUmbrella follows HMRC’s guidelines on expenses very carefully and won’t process claims which we know HMR&C would disallow. We are very pro-active in ensuring our contractors are compliant - this means you can sleep well at night!
Paying on timesheets
This sounds great in principle because you get your money more quickly than if you were to wait for the agency to pay the Umbrella Company. However as a business model it is incredibly risky. If a big client of the Umbrella Company goes bust, whether you are working for that client or not, it will affect you when the company ceases trading as a result.
ContractorUmbrella pays it’s contractors after receipt of monies from the agency/client. This removes the risk for both us and our contractors and ensures we’ll be here for the long-run.
Companies not been around long / no-one’s heard of
Companies that appear one day can disappear just as quickly. Finding a company that has been established for a few years and other colleagues have heard of is a far safer bet. A company that has connections to another firm is also another indicator towards stronger foundations and longevity.
ContractorUmbrella is one of the largest and most respected Umbrella Companies in the UK. Established in 2002, it is now recognised as being the market leader with several thousand satisfied clients
ContractorUmbrella is sister company to SJD Accountancy. SJD have been providing accountancy services to contractors for over 17 years and are the most recommended accountancy firm on the internet. They are also winners of the prestigious Accountancy Age Awards for Excellence and are the National firm of Accountants recommended by the PCG (Professional Contractors Group).
Companies that disappear and re-appear under a different name
Similar to the point above; a company that reappears under a different name could just be re-branding but further investigation should be done to ensure it’s legitimate. There could be underlying issues such as financial problems or trying to escape a tarnished company name. Public forums are usually a good place to find out this type of information.
If you would like to make an enquiry into our services, please do not hesitate to contact a member of our team on 01206 713680 or email us at info@contractorumbrella.com.
Read more about ContractorUmbrella on our About Us page.
Read our Umbrella Comparison page to help you narrow down your choice to your preferred company.
