6 Things to Consider When Choosing an Umbrella Company

Simplicity – The process is simple; any PAYE umbrella company that over complicates the process when you first enquire is likely to over complicate making payment to you. The simple fact is; you submit your timesheet with any expenses you have incurred to your umbrella, the umbrella company invoices your recruitment agency/client whom then sends over the monies invoiced for and your umbrella calculates the tax and NI; sending your payment on the same day…simple.
Do they have a dispensation? – A dispensation basically alleviates the administration burden of having to send all receipts into the umbrella company before they can process them (not all expenses) but usually travel, subsistence and accommodation). Those umbrella companies without one will require you to post, fax or email copies of your receipts for all expenses (ball ache). Another point, beware of umbrella companies that process the maximum expense allowances possible even though you don't incur the expense.
Can you get hold of someone when you need them most? – There is nothing worse than having a straight forward query and then being passed around the houses before getting an answer. Make sure they have a dedicated customer service team, allowing any questions you have to be answered promptly and efficiently.
What do others say about them? – There's a wealth of feedback on the web, so take two minutes out and type their name in Google to see what others think about them. There's no better way to get a recommendation from someone with first hand experience using the service.
Experience – There are a number of new umbrella companies popping having very little experience in the market. I'm not tarnishing them all with the same brush, but some have not invested in the technology or people needed to provide the excellent service levels you deserve. It's always worth looking into how long they have been established.
LAST BUT FAR FROM LEAST…
Best advice – Umbrella companies with no other alternative solutions in place are likely to tell you that the umbrella solution is ideal for you until they turn blue in the face. This however is not necessarily true. There are other solutions, such as operating through your own Limited Company. which is usually the most tax efficient way to work. There are specialist contractor accountants who provide all solutions under one roof, which will ensure you receive unbiased advice.

Accounting Outsourcing Delivering boutique business process outsourcing solutions is Infinit-O's specialty, affording you real quality results when you need it.

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6 Things to Consider When Choosing an Umbrella Company

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