When you are looking for an umbrella company to work with, there are
several things to keep in mind. Not all of these companies will operate
in the same manner. If you need specific things, you need to make sure
that the company you work with can provide these for you. There are
some tips you can employ to help you choose a reputable umbrella company
that will be able to meet your needs. Keep these in mind as you start
your search and even after you choose one to make sure that the company
you choose lives up to your expectations.
Experience
When you are working with an umbrella company, you want to make sure that they know what they are doing. A brand new company is not necessarily bad, but this company is responsible for your money, so it is best to stick with those that are established. Make sure that they have been in business for several years and that those working for the company have the proper education and experience.
Personal Service
When you are looking for a PAYE umbrella company for contractors, you want to make sure that they can satisfy your needs. When you have questions and concerns, a support person should be available to help you. You do not want to constantly have to leave messages and wait for a response. If you contact them during off hours, they should respond no later than the next business day.
Insurance
If the company you work with does not have insurance, there is a chance that you may not get your money should your service provider go bankrupt. Professional indemnity insurance cover must be had by your chosen umbrella company. They must also have employers' liability and public liability cover.
Employee Benefits
This may be something that you need, or you may not need it at all. Examples of employee benefits include things like maternity leave and sick leave. These are highly beneficial, especially the sick leave. You never know when you might get sick or injured and need to take a short time off of work to recover. This gives you some peace of mind and will help you to not have to try and work sick.
Payment Dates
You must work with a company that has clear payment dates. You need to know when you can expect to get your money. For example, do they pay weekly, biweekly or monthly? You should get the payment policy in writing so that if issues occur, you have some type of recourse.
Expense Policy
If you are a contractor, you likely have at least a few expenses. You want to make sure that you can properly deduct these. You want to make sure that the expense policy is clear because if it is not and a mistake is made, the tax liability could land on your shoulders. You want to keep everything on the up and up, so know the policy inside out. If you have questions, ask them before trying to claim any expenses.
Experience
When you are working with an umbrella company, you want to make sure that they know what they are doing. A brand new company is not necessarily bad, but this company is responsible for your money, so it is best to stick with those that are established. Make sure that they have been in business for several years and that those working for the company have the proper education and experience.
Personal Service
When you are looking for a PAYE umbrella company for contractors, you want to make sure that they can satisfy your needs. When you have questions and concerns, a support person should be available to help you. You do not want to constantly have to leave messages and wait for a response. If you contact them during off hours, they should respond no later than the next business day.
Insurance
If the company you work with does not have insurance, there is a chance that you may not get your money should your service provider go bankrupt. Professional indemnity insurance cover must be had by your chosen umbrella company. They must also have employers' liability and public liability cover.
Employee Benefits
This may be something that you need, or you may not need it at all. Examples of employee benefits include things like maternity leave and sick leave. These are highly beneficial, especially the sick leave. You never know when you might get sick or injured and need to take a short time off of work to recover. This gives you some peace of mind and will help you to not have to try and work sick.
Payment Dates
You must work with a company that has clear payment dates. You need to know when you can expect to get your money. For example, do they pay weekly, biweekly or monthly? You should get the payment policy in writing so that if issues occur, you have some type of recourse.
Expense Policy
If you are a contractor, you likely have at least a few expenses. You want to make sure that you can properly deduct these. You want to make sure that the expense policy is clear because if it is not and a mistake is made, the tax liability could land on your shoulders. You want to keep everything on the up and up, so know the policy inside out. If you have questions, ask them before trying to claim any expenses.
