Umbrella – What to Look For?

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Umbrella – What to Look…

Umbrella Companies: What to Look For?

The number of umbrella companies in the UK is growing. With so much choice, how do you know which one to pick?

Churchill Knight Umbrella is committed to compliance within the industry and we’re proud to be accredited by the FCSA. There are plenty of benefits available to all of our clients – at no extra cost. We help thousands of contractors and freelancers get paid (PAYE) every week – efficiently and compliantly with HMRC rules and regulations. So, if you’re looking for an umbrella company you can trust, you’ve come to the right place. Please call our friendly team on 01707 871622 or send us a quick message.

Keep reading and discover what you should look out for when selecting an umbrella company to take care of your PAYE payroll.

Select your umbrella company carefully

There are a number of things you should consider when searching for an Umbrella Company provider.

All UK based PAYE Umbrella Company providers are governed by HMRC, which means that no compliant Umbrella Company can provide you with a higher amount of take home pay than any other. It is better to look for a provider with a flat fee as these ones are potentially cheaper.

Customer support and ease of access to submit your timesheets and expenses are also factors to consider.

You should always ask for a full breakdown of all deductions, and if there are any hidden costs or penalties, such as set up and leaving fees.

Different types of Umbrella organisations

PAYE Employment
Under this scheme, which is the most common, you’re fully employed by the Umbrella Company when you start a contract.

The Swedish Derogation Model
Under this model, contractors are paid a fixed salary, even if they are between contracts, and will have full employment rights including sickness, maternity and in some cases, pensions.

Offshore Umbrellas
Offshore Umbrellas offer several tax solutions for contractors and freelancers. We suggest that you avoid offshore Umbrella providers as there is a potential risk that HMRC will hold you accountable for lost revenue, potentially resulting in fines and backdated tax payments.

Checklist for new providers

Ask the following questions when speaking to a new Umbrella provider:

What are their fees?
Is there a minimum tie in period?
Which types of insurance are provided?
Are there any exclusions within the insurance policies?
Do they charge you a fee for same-day payments?
When did the company begin trading?
Do they work with your recruitment agency?
How many contractors do they currently have employed?
How long will they take to produce invoices after receiving timesheets?

Churchill Knight Umbrella Benefits

For a full list of benefits available to Churchill Knight Umbrella clients, please click here. Below is a short summary:

Free £25 million insurance
No hidden costs – including no joining or leaving fees
Easy registration – you can be set up and ready to be paid in under 15 minutes
Same Day Faster Payments
Employee Benefits
And more!

Churchill Knight & Associates Ltd and Churchill Knight Umbrella are proudly accredited by the Freelancer and Contractor Services Association (FCSA). The FCSA is the UK’s leading professional body dedicated to ensuring the supply chain of temporary workers is compliant with HMRC’s rules and regulations. We believe that being an accredited member of the FCSA is the best way to showcase our commitment to compliance within our sector.

Whether you’re using one of our limited company accountancy packages (Churchill Knight & Associates Ltd) or you’re an umbrella company employee (Churchill Knight Umbrella), you can rest assured knowing that you are in the very safest hands.