An umbrella company is a payroll administration company who act as the employer on behalf of you - the contractor or freelancer. This may seem strange, however it is actually quite normal and for good reason.
By becoming an employee of the umbrella company you can be paid through the umbrella company’s PAYE payroll, exactly the same way a regular full time employee would be. You will also be covered by the umbrella company’s insurances.
The umbrella company will deal with all of the administrational burden including processing timesheets, invoicing the agency or end client for payment and calculating and processing the correct deductions for tax and National Insurance Contributions.
The contractor will receive a simple PAYE payslip with all deductions taken care of.
• All tax and National Insurance is calculated and deducted on your behalf.
• All administration taken care for you meaning less paperwork to be completed by you.
• You are fully ensured and entitled to holiday and sick pay.
• Umbrella Companies are easy to use. You simply submit your timesheet and expense claims and wait to be paid.
• Umbrella companies offer suitable solutions to both short and long terms contracts and to all salary levels.
• Minimum input required from the contractor, meaning it is an easy, flexible and straightforward route for many people.
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