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What is the point of an Umbrella Company?

Umbrella companies are having a hard time of it at the moment with what seems to be permanent bad press, coming under regular attacks from a range of third-parties who think they smell a story that they can take credit for, this includes various Ministries, MPs, self-appointed bodies, ignorant media and anyone else who thinks they're a scam.

In fact, the only body that seems to appreciate the inherent value of an umbrella company scheme is HMRC, they understand the what, how & why of an umbrella. Maybe if the meddlers tried to understand, they'd see the incompetence of some of the more recent arguments.

So what accusations are being made?
1. Contractors use an umbrella service to avoid paying tax.
2. HMRC is losing out on billions.
3. Umbrella companies are not controlled.
And probably the most poignant:
4. The umbrella company is immoral.

So what can we say back to these controversial accusations?
The decision to use an umbrella company has nothing to do with tax - and everything to do with a dislike of paperwork, red-tape & admin. There are many benefits of using an umbrella company, and during a recent survey of contractors in the industry; tax was not in the top five reasons.

HMRC is actually saving money because of umbrella companies. Say there are 500,000 contractors using around 300 mainstream umbrella companies. That means HMRC only have to administer 300 tax accounts rather than half a million individual one-man limited companies! That equates to a massive on-going saving.

A compliant umbrella company is one of the safest ways of contracting and thorough audits carried set out to show the umbrella’s compliance to HMRC’s guidelines. Anyone can say they are compliant, but can they prove it?

When it comes to immorality, you should try asking the thousands of satisfied contractors who use umbrella companies, who agree that they are worth every penny.

 

Why Choose ContractorUmbrella?

ContractorUmbrella is the hassle-free, straight talking umbrella company that provides umbrella employment for UK based contractors and freelancers. Independently voted as the best umbrella company by the readers of Contractor UK.

As one of the most trusted umbrella companies in the UK, we guarantee our employees peace of mind, absolute compliance and complete security. We are one of the longest standing and most respected umbrella companies in the UK.

Benefits of working through ContractorUmbrella;

  • Fast and easy registration-  be ready to work in 24 hours, simply register online and we’ll take care of the rest.
  • Calculate your take home pay- use our online calculator to find out how much you could be taking home through ContractorUmbrella.
  • Same day payments- we offer same day payments as standard, for no additional fee.
  • Our Commitment Charter- is our guarantee that you will be looked after at every step of the way.
  • Flexible Limited Company accountancy- when you sign up to our sister company Dolan Accountancy, you can transfer to ContractorUmbrella when umbrella employment better suits or your assignment sits inside IR35.
  • Employee Benefits- at ContractorUmbrella there are many benefits available to you as our employee including Childcare Vouchers, our Employee Rewards Scheme, Group Pension Scheme, Foreign Currency Exchange, Contractor Accommodation, Contractor Mortgages and much more.
  • Personal Employee Liaison Officer- we believe in the personal touch, so you will have your very own dedicated Employee Liaison Officer during your employment with us. Read some of the glowing testimonials we've received about our lovely staff and the outstanding commitment they give to all our employees and clients.

If you’d like to find out more, call us on 01206 591 000 or request a call back by completing our online form.