Umbrella Company

 Umbrella Company

A limited UK based company that is operated by a third party distributor on behalf of its contractors is known as an umbrella company. On the name of contractors, a contract is signed between a recruitment agency and an umbrella company. The umbrella company gives a payroll service to its employees after making deductions in the salary and processes all the invoices and timesheets.

 Umbrella Company – Accountant for Contractors and Freelancer

Umbrella Company is a simple choice if you are looking for a short-term contract or a word of contract operating. Hayes accountants provide hassle-free umbrella services by taking care of all the tax, national insurance, and pay you on time for your work. We work with various recruitment agencies in London and all across the UK, and have the expertise to set up an umbrella contract for you.

How Umbrella Company Operates?

If you want to join a PAYE umbrella company in the UK, here are the steps to follow:

  • After securing a contract with you, Umbrella Company will sign a contract with a recruitment agency as your employer.
  • You also need to sign an employment contract with an Umbrella Company.
  • After completing an agreed time-period, complete a timesheet, and get signed by the manager.
  • To show your working hours in a week or month, submit a timesheet to both the umbrella company and recruitment agency.
  • A recruitment agency will bill the end-client after the invoice of the Umbrella Company.
  • The umbrella company will prepare your payroll after receiving payment from a recruitment agency.
  • Umbrella Company will pay you a salary after processing a payroll.
  • You will get issued a payslip with details of all deductions.
  • You can reclaim any hold out expenses against income tax at the end of each tax year.

Umbrella Company Services by Hayes Accountants

Our expert umbrella accountants at Hayes Accountants provide payroll services to freelancers and contractors in the UK. With years of experience in the contracting field, we understand the complex needs of contractors and try our best to meet their needs with our great expertise. Our dedicated contractor accountants offer the best accounting services with affordable charges.

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