What is an umbrella company? This is a really common question that we get asked, and a question that seems to be getting asked more and more often too. In this post, the team at Clockwork Contracting explores what an umbrella company is, and everything that you need to know.
Keep reading below to learn more, and if you would like to enquire about our services and how we can assist you with umbrella companies, then please contact us via the details at the bottom of this post.
What is the Role of an Umbrella Company?
Essentially, an umbrella company employs a worker who is on a fixed term contract assignment. What the umbrella company does is act as an intermediary between yourself - a contractor - and your end client or agency. The agency will pay the umbrella company, and then the umbrella company pays you, the contract worker, through PAYE, just as they would if you were a full-time employee.
National Insurance and tax will be deducted by the umbrella company on your behalf. This is just a process that serves to simplify your administrative and financial responsibilities. You won’t need to worry about tax returns.
Benefits of Umbrella Companies
There are many benefits of umbrella companies; the biggest advantage being that they’ll get rid of your administrative burden and ensure that you’re paid on time every single time. You will get the benefits of permanent employment, whilst also maintaining the flexibility of part-time contracting too.
Furthermore, you will also get statutory employment rights as soon as you join the umbrella company. This means that you will get holiday pay, sick pay and maternity/paternity pay too. In addition to this, you will also get HR support from a professional HR department, providing you with guidance and support when needed.
In addition to this, umbrella companies are beneficial as they have years of experience in the industry, and can provide you with a trusted service that you can always rely on. There is nothing like the peace of mind that an umbrella company can provide you with. To find out more about the benefits of umbrella companies, contact the Clockwork Contracting team today.
Leading Umbrella Company in London
Here at Clockwork Contracting, we pride ourselves on being one of the leading umbrella companies in London, providing a leading service from start to finish. We provide a fully compliant and transparent service to our end clients, agencies and contractors. Our team provides expert support and keeps up to date with all the latest news, laws and policies. We provide assistance whenever you need us.
To find out more about our East London umbrella company, please contact us today. You can reach us by phone on 0203 004 2262 or email us at email@example.com and we’ll get back to you as soon as possible. In the meantime, head over to our website to find out more about all of our umbrella company services in more depth.