Helping workers track payments, payroll and taxes, our ability to extract data more efficiently from your agency means that we keep you up-to-date with the status of your unpaid time. That’s days or shifts that you have worked, but you have not yet been paid for.
Although this sounds simple, the challenge is around prompting your agency to send us better quality data, and then processing it so that you can be notified of upcoming payments.
Using our apps helps keep your fees the lowest in the UK, with our apps possessing other useful features too, all of which are designed to help us keep fees as low as £7.50 per week. What’s more, they help keep tax, fees and expenses as transparent as possible and make it easier for you to refer colleagues to us and take home what you earn.
Using a PAYE Umbrella Company
Traditionally, if not employed on a PAYE basis by an employer, for example, via a recruitment agency, contractors and freelancers would need to either operate as a sole-trader or incorporate their own limited company [personal service company] through which expenses and invoices are dealt with.
Both sole-traders and limited companies pose challenges to busy contractors and freelancers, which umbrella company services help to remove.
Sole Traders Vs Umbrella Companies
For example, working as a sole-trader, it’s often difficult to prove your income, access financial products such as mortgages, and receive full statutory employment rights. Sometimes the agency or client won’t engage with a self-employed person either, so finding work is more difficult.
Using an umbrella company allows contractors to engage with both clients and agencies, be protected as an employee, whilst negotiating better pay rates for equivalent roles and even processing business expenses. Sole-traders also often find themselves without necessary insurances such as professional indemnity, public liability or employer liability, all of which we can take care of for you.
Limited Companies Vs Umbrella Company
Limited and personal service companies pose a different set of challenges for contractors. For example, limited companies will almost always need to pay an accountant to oversee the company accounts and there are also additional taxes to consider such as corporation tax. Utilising an umbrella company however, means that the umbrella, rather than the contractor or accountant takes care of these obligations for you.