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Careers-Employment It"s true that there is no shortage of Umbrella Company Services on offer in Britain, but perhaps now more than ever temporary workers need to be careful about who they trust to carry out this important role. The last several months have seen more than a few umbrella companies fold overnight, and contractors have lost out on payday. FPS has some key differences from other Umbrella Companies. In addition, the UK Government is making changes to both tax and employment law that will have a profound effect on contractors, freelancers and temporary workers. It"s crucial to choose an umbrella company that can be trusted and has the necessary expertise to navigate the changing landscape. Types of umbrella services The most common form of umbrella arrangement is the "salary only" or PAYE scheme which is the best way to eliminate any risk of falling outside IR35. All income is paid by salary only and the structure allows for contractors to claim reasonable expenses. There are other types of Umbrella Services available to UK temporary workers, usually involving foreign currency loans and other offshore arrangements. Some might seem advantageous, but it"s important to make sure they don"t fall outside UK law and that they are 100% appropriate for your specific circumstances. For example, the UK Government has recently changed the rules for Employee Benefit Trust. Contractors currently using these trusts may now find their income subject to income tax and National Insurance contributions. This action is likely to be the "thin end of the wedge" as more changes to tax and employment laws unfold. Getting paid on time For many umbrella company services, making the necessary payment transaction is a numbers game. There is often little flexibility when it comes to timing payments and customer service is only a secondary consideration. Before signing with an umbrella company, make sure you know how quickly they"ll send your invoices and how long it will take to get paid. The best ones will listen to your specific needs and be willing to work to your timelines. In addition, some umbrella companies hold back a proportion of your pay to cover holiday pay and similar items and will pay the funds out when required. Make sure you understand in advance when you will be paid and by how much. Agency recommendations It"s important to remember that you have a choice in which umbrella company you use. Many recruitment agencies will recommend an umbrella company, but the decision on which to use is entirely yours. Successful agencies are likely to make recommendations based on their own experience of working with a specific umbrella company. Their recommendation could be reflection on the quality of service, and how much effort is required on their part. Or, recommendations might be made for commercial considerations. Don"t be afraid to ask your agency why they recommend a particular umbrella company, or to stick with one you know you can trust. Choose experience and compliance It"s an unfortunate truth that in Britain, anybody can start an umbrella company. And that"s why it"s so important to choose a company that has a demonstrated track record for reliability and trustworthiness. Look for an umbrella company with many years experience and that is fully regulated. Another consideration is the team behind the scenes. Make sure your umbrella company is staffed by qualified experts and has enough REAL people on staff to provide personal customer service. About the Author: 相关的主题文章:

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