Umbrella company

RE: Umbrella company

vs0u — Tue, 28 Mar 2017 14:33:55 GMT

I have used one.

It's expensive. You have to pay employer's NI as well as more employee's NI than you'd pay as self employed, plus a fee to the umbrella co.

It also adds another layer of complication and delay to getting paid and makes offsetting expenses more complicated. Being self employed is much more straightforward.

The main advantage is that you can work for certain corporates that don't accept self employed and won't put you on their payroll.

If you do choose an umbrella company, shop around as the fees vary a lot.

RE: Umbrella company

Jill Butterworth — Mon, 27 Mar 2017 20:53:37 GMT

Hi, I've done Ltd Co previously, just wondered about the pro and cons of this, so thanks

RE: Umbrella company

Kelly Cremers — Mon, 27 Mar 2017 20:08:37 GMT

I you are planning locuming for a limited time only, an umbrella company is an easy way of making sure everything gets sorted wit minimal effort on your end. Just be sure the umbrella company explain wat you can claim on expenses and what not very clearly, and they are clear in their fees without any hidden extras.

if you are planning to be a locum for a longer time, it's worth looking into either going selfemployed or via limited company.

I have been working via my own limited company for a year now and I am paying my accountant less then what I was paying the umbrella company I previously used. And I'm able to claim more expenses.