{"id":122,"date":"2024-07-11T11:18:18","date_gmt":"2024-07-11T11:18:18","guid":{"rendered":"https:\/\/theumbrellaguys.com\/?page_id=122"},"modified":"2024-07-11T12:04:19","modified_gmt":"2024-07-11T12:04:19","slug":"more-on-umbrella-companies","status":"publish","type":"page","link":"https:\/\/theumbrellaguys.com\/?page_id=122","title":{"rendered":"More On Umbrella Companies"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;Speaker&#8221; _builder_version=&#8221;4.19.0&#8243; _module_preset=&#8221;default&#8221; background_image=&#8221;https:\/\/theumbrellaguys.com\/wp-content\/uploads\/2024\/07\/webinar-13.png&#8221; background_size=&#8221;contain&#8221; background_position=&#8221;bottom_left&#8221; background_horizontal_offset=&#8221;18%&#8221; collapsed=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row use_custom_gutter=&#8221;on&#8221; gutter_width=&#8221;1&#8243; make_equal=&#8221;on&#8221; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#FFFFFF&#8221; custom_padding=&#8221;60px|60px|60px|60px|true|true&#8221; custom_padding_tablet=&#8221;30px|30px|30px|30px|true|true&#8221; custom_padding_phone=&#8221;20px|20px|20px|20px|true|true&#8221; custom_padding_last_edited=&#8221;on|phone&#8221; box_shadow_style=&#8221;preset1&#8243; box_shadow_horizontal=&#8221;8px&#8221; box_shadow_vertical=&#8221;14px&#8221; box_shadow_blur=&#8221;80px&#8221; box_shadow_color=&#8221;rgba(24,4,58,0.1)&#8221; global_colors_info=&#8221;{%22gcid-acbd5969-9d5f-4bea-a694-e0e16adbbd29%22:%91%22button_text_color%22%93,%22gcid-4d171f29-f5cf-4a1b-99b0-2dc43983beb9%22:%91%22border_color_all%22,%22border_color_all%22%93,%22gcid-e850ad88-05af-4ed0-bc88-7082de258f33%22:%91%22button_bg_color%22%93}&#8221;][et_pb_text _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;b327cbe4-b1d5-4b66-ad37-40c8f2f061ba&#8221; header_2_font=&#8221;Nunito Sans|900|||||||&#8221; header_2_font_size=&#8221;48px&#8221; header_2_line_height=&#8221;1.2em&#8221; custom_margin=&#8221;||10px||false|false&#8221; header_2_font_size_tablet=&#8221;32px&#8221; header_2_font_size_phone=&#8221;20px&#8221; header_2_font_size_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>More on Umbrella Companies<\/h2>\n<p>[\/et_pb_text][et_pb_divider color=&#8221;gcid-e850ad88-05af-4ed0-bc88-7082de258f33&#8243; divider_weight=&#8221;4px&#8221; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;default&#8221; width=&#8221;100px&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{%22gcid-e850ad88-05af-4ed0-bc88-7082de258f33%22:%91%22color%22%93}&#8221;][\/et_pb_divider][et_pb_text _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;1f09816e-184e-4ce5-a4cf-b39c52c423ca&#8221; text_font=&#8221;PT Sans||||||||&#8221; text_font_size=&#8221;16px&#8221; text_line_height=&#8221;1.4em&#8221; custom_margin=&#8221;|||60px|false|false&#8221; custom_margin_tablet=&#8221;|||0px|false|false&#8221; custom_margin_phone=&#8221;|||0px|false|false&#8221; custom_margin_last_edited=&#8221;on|tablet&#8221; text_font_size_tablet=&#8221;15px&#8221; text_font_size_phone=&#8221;14px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_font_size_tablet=&#8221;55px&#8221; header_font_size_last_edited=&#8221;off|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Working alongside an umbrella company may seem to some individuals like a long process, however it is a simple route. We have provided a guide on how they work with their fees and costs. Different companies will have different services, and as a result costs vary.<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><span class=\"wixui-rich-text__text\">An umbrella company are companies who functions as an employer to agency contractors who work under a fixed term contract assignment, tends to be through a recruitment employment agency. A contract is signed between the umbrella company and recruitment agency or client, in support of the contractor who will be executing the assignment.<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">The umbrella company provides a payroll system to the employees, operates all time sheets and invoices, and pays its employees a salary after allowing for deductions. You can get back the cost of any legitimate business expenses you sustain as a contractor, however what you can claim concludes on whether your contractor is under the SDC (Supervision, Direction and Control) of your client. If the employee\u2019s contract work is caught by the SDC rules, they will not be able to claim back the costs of travel and maintenance.<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><span class=\"wixui-rich-text__text\">If you\u2019re not sure if your contract falls under the SDC rules that took effect from April 2016, you can take a glance at the background to help you have a better understanding. Click there below.<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><a href=\"https:\/\/www.gov.uk\/government\/publications\/employment-intermediaries-travel-expense-guidance\/travel-and-subsistence-expenses-for-workers-engaged-through-employment-intermediaries-from-6-april-2016\" target=\"_blank\" class=\"wixui-rich-text__text\" rel=\"noopener\">https:\/\/www.gov.uk\/government\/publications\/employment-intermediaries-travel-expense-guidance\/travel-and-subsistence-expenses-for-workers-engaged-through-employment-intermediaries-from-6-april-2016<\/a><\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><span class=\"wixui-rich-text__text\">Here are a few simple steps on how umbrella companies work and how you would be involved if you join them:<\/span><\/p>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">When you have confirmed the contract role, the umbrella company (like your \u2018employer\u2019 would sign a contract with your recruitment agency to confirm everything.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">You (contractor) will also sign a contract of employment, but with the umbrella company.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">When the employee has arranged in advance a time on site, the employee will complete a time sheet and forward it onto their manager to sign in.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">The employee will submit their time sheet to both the recruitment agency, and the umbrella company allowing them to see how many hours you have worked in a week or month.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">At this time of the process the umbrella company will invoice the recruitment agency, which subsequently bills the end-client.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">After the umbrella company receives the payment from the recruitment agency, the will then go forward preparing your payroll.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">As mentioned previously further up the page, the umbrella company will now process your payroll, and pay you a salary, with deductions with taxes (income tax and national insurance), the arranged in advance umbrella payment, including any more necessary deductions for example, VAT. Furthermore, the umbrella will pay you back for specific allowable expenses you have claimed for example \u2013 travel and training. When looking a travel, you can claim the cost of travel to and from your place of work. You can also claim for parking and congestion charges. When looking at training, according to HMRC legislation, an expense cannot be deducted under the general rule for employees\u2019 expenses in Section 336 ITEPA 2003.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">When the end of the tax year comes approaching, you can claim back the cost of any expenses left in opposition to your income tax bill.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><\/p>\n<h2 class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Advantages of Umbrella Companies<\/span><\/h2>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><span class=\"wixui-rich-text__text\">It is important to know about the benefits of something, so here\u2019s a few points below to look at regarding the advantages of an Umbrella Company.<\/span><\/p>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">The main factor contractors enjoy about using umbrella companies is the fact that all your tax and NI is finalised\u00a0by the umbrella company prior to you receiving your money. As a result, the contractor would not need to stress about calculating their tax.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Easy to use, the contractors using umbrella companies directly send their time sheets and expense claims to the umbrella companies and halt to be paid.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">The umbrella companies are useful for the contractors who have short and long-term contracts who want minimal input.<\/span><\/p>\n<\/li>\n<\/ul>\n<ul class=\"font_8 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Other than the time sheets and expenses claims, there is minimal amount of paperwork to be accomplished.<\/span><\/p>\n<\/li>\n<\/ul>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">There are many reasons as to why umbrella companies are beneficial to contractors, but those are a just a few of the main benefits.<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><span class=\"wixui-rich-text__text\">Choosing an Umbrella Company<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\"><span class=\"wixGuard wixui-rich-text__text\">\u200b<\/span><\/span><span class=\"wixui-rich-text__text\">When looking at umbrella companies, it may be a difficult decision to make for which company to go forward with, however it is important when looking to find out if there are any hidden costs or penalty charges for joining and leaving the umbrella company. Word of mouth tends to be a great tool when making your choice, however you should be aware that reviews on company websites are not always authentic statements.<\/span><\/p>\n<p class=\"font_8 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">As mentioned previously, each company will offer different services to your needs, so we strongly advise to take time and choose wisely who you feel most comfortable with. If you need any further assistance, please do not hesitate to email us on admin@theumbrellaguys.com, and we will get in touch with you ASAP.<\/span><\/p>\n<p>[\/et_pb_text][et_pb_button button_text=&#8221;Learn More&#8221; _builder_version=&#8221;4.18.0&#8243; _module_preset=&#8221;db46e67d-9505-40bb-9ebd-8901bc8b3a95&#8243; custom_button=&#8221;on&#8221; button_text_size=&#8221;14px&#8221; button_text_color=&#8221;#FFFFFF&#8221; button_bg_color=&#8221;#3dbdd8&#8243; button_border_width=&#8221;0px&#8221; button_border_radius=&#8221;0px&#8221; button_font=&#8221;Nunito Sans|900||on|||||&#8221; custom_margin=&#8221;|||60px|false|false&#8221; custom_margin_tablet=&#8221;|||0px|false|false&#8221; custom_margin_phone=&#8221;|||0px|false|false&#8221; custom_margin_last_edited=&#8221;on|tablet&#8221; custom_padding=&#8221;16px|32px|16px|32px|true|true&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More on Umbrella CompaniesWorking alongside an umbrella company may seem to some individuals like a long process, however it is a simple route. We have provided a guide on how they work with their fees and costs. Different companies will have different services, and as a result costs vary. \u200bAn umbrella company are companies who [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-122","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=\/wp\/v2\/pages\/122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=122"}],"version-history":[{"count":4,"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=\/wp\/v2\/pages\/122\/revisions"}],"predecessor-version":[{"id":159,"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=\/wp\/v2\/pages\/122\/revisions\/159"}],"wp:attachment":[{"href":"https:\/\/theumbrellaguys.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}