Top tips on what to look for when choosing an Umbrella Company
Guaranteed Margin
Some Umbrella Companies charge a percentage of your invoices which can prove extremely expensive.
Same Day Payments
Choose an Umbrella Company that doesn’t hold onto your money unnecessarily and pays you without delay.
Compliant with HMRC rules and regulations
But can they prove it? Of course everybody will say they are compliant but what awards/accreditation do they have to prove it.
Contract Manager for every employee
If not you’ll be explaining who you are and what you do every time you call.
Guaranteed commitment levels for employees and clients
Most Umbrella Companies will promise a variety of things but unless there is a money backed service guarantee, you have very little recourse.
Online portal for timesheet
Faxing or posting timesheets will soon get boring, plus you face the possibility of them getting “misplaced”.
Established company & part of a chartered firm of accountants
As the Umbrella Company will be receiving your funds first, you need to be sure they won’t disappear with it.
Contractor Umbrella meets all of the above criteria and as can be seen from the price comparison table below, is also one of the most competitively priced.
Umbrella Company Price Comparison
| Umbrella Company | Weekly | Monthly |
|---|---|---|
| Contractor Umbrella Ltd | £29.50 | £108.50 |
| Giant Group | £28.00 | £121.33* |
| Crystal Umbrella | £27.50 | £85.00 |
| Atlantic Umbrella | £30.00 | £89.00 |
| Parasol | £27.50 | £119.50 |
| Orange Genie | Charged as Percentage | – |
| Liberty Bishop | £31.50 | £137.00 |
Prices updated as of April 2014.
* No monthly fee so based on weekly fee x 52 weeks / 12 months
** Capped at £30 per week
As mentioned above, all Umbrella Companies are governed by the same rules and regulations, laid down by HMRC therefore your take home pay will be the same excluding the margin of the Umbrella Company of course.
