The benefits of being paid through an umbrella company
Umbrella companies like iConsult offer a complete payroll service for contracts. But a lot of people wonder why people should use them, we look at the top 4 benefits of using one are:
Flexibility in using an Umbrella Company
Using an umbrella company is a great way to dip your toe in the water that is working as a contractor. No money is required and there is no time commitment – you can use an umbrella company whenever you need it. This is also an ideal solution if you work on shorter contracts here and there or are between permanent work.
You don’t need to worry about IR35
No need to fret over IR35 – utilizing an umbrella company has more benefits than you’d think. Primary of which is that you don’t have to be concerned about IR35’s effect on tax/NIC payments.
Using an umbrella, you become their employee and get PAYE. Deductions (tax & NIC) are sent to HMRC by the umbrella, ensuring you never have to worry about underpaying your tax.
Employee Benefits when working through an Umbrella Company
If you work for an umbrella company, you will work as an umbrella contractor, and as a result of employee insurance such as sick pay, maternity/paternity pay, or holiday pay, you will be eligible. Contracts for self-employed individuals do not receive this benefit, but it provides a great deal of security.
Safest route
Ensuring your umbrella company adheres to correct procedures is key when selecting one. Confirm the company holds FCSA Accreditation. iConsult is FCSA Accredited, making it the industry standard for Compliance and Customer Service – no further search is necessary.
No money is required and no contract duration – you may use an umbrella company as needed. Perfect if you do short-term projects or are in-between jobs.
Contact us at enquiries@iconsultumbrella.co.uk or call 03300 883 448 to learn more about working with iConsult.
