Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Umbrella Companies: Choosing the Right One

By Ed Lebbon Subscribe to RSS | January 12th 2012 | Views:

In today’s society, more and more individuals pursue the job of being self-employed or becoming a freelancer. Why? Simply because freelancers and the self-employed get to manage their own time, workload and income unlike those stuck at a desk job with restrictions and limitation placed on them by their bosses. Becoming a freelancer or contractor is easy but managing tax affairs that go along with it can be tricky but with the help of an umbrella company then tax issues won’t have to be so taxing.

Like in choosing an umbrella, we opt for the strongest kind. It should be able to brave the ever changing weather. Same as with choosing an umbrella company, these should not only make contractors 100% tax efficient as of the present time but in the future as well. So what are other things to keep in mind in choosing an “umbrella”? Don’t be misled by the flashy names or false promises they may make. Doing a thorough research is always the best way to go.

All companies may say that they are IE35 compliant but with today’s society everything changes in laws, legislation's and rules. Make sure that they have a back-up plan or they are ready to make adjustments easily when in case occurrences such as this happen. Some companies use the PAYE system as a marketing tool but take note that all companies use this system for paying contractors. There isn’t anything else.

Apart from those mentioned above, it is vital to check the trustworthiness of umbrella companies simply by how they claim your expenses. Companies that say you can submit expenses without the receipt is a sign that these aren’t trustworthy at all. The HMRC investigates all claims on expenses and if in cases such things like these occur then you’d be in trouble and not the company.

Up next is to check their fee structure. Others have a flat rate fee for given services while others have charge rates which will be based on the contractor’s income. Now if you earn higher then of course you’d pay a higher fee than contractors who earn way less. The same thing goes if your rate goes lower but if your income goes higher or gets an increase then the rate you pay equally goes up. It is best to check that the firm would charge a set amount for each month. Another thing to watch out for is companies setting up exit fees as well as fees or penalties when you opt to terminate your contract.

Your prospective company should give you a tangible format of how quick they pay out. Some take longer when it comes to submitting invoices and sending out payments thus you get paid longer. Alongside that it is also best to ask if they would hold your money in cases of sick pay, holiday pay and a variety of other reasons. This works best for contractors who would want such option but if this is not something you need then slash this off your list.

Great customer service is another thing you should be looking for. Do they have online system with live people working to help you out instantly? Aside from that, how long would it take them to solve your problem? Find out if they have a designated account manager for each contractor.

Just like searching for the best bank or insurance company, we ask for referrals from friends or scroll through user comments. The same thing works best with umbrella companies as well. Ask around and get as much information as possible if you have a prospective company in mind. With these mentioned, you know exactly what to look for in a company.

To save you the trouble then look no further than Access-a. We’re comprised of a team who are knowledgeable on all tax issues and accounting affairs to ensure you are 100% tax-efficient and compliant with the IE35 even in cases of changes in the legal system. Our solutions are future-proof. Aside from that, we aim to make sure you get all the assistance you need through our 24-hour portal with your very own account manager. At Access-a, we aim to make your tax affairs as easy as possible so you get more time for your work and more money in the bank.

Ed Lebbon - About Author:
Ed Lebbon is the owner of Access-a Umbrella Company Access-a is an umbrella company offering the benefits of a limited company without the administration or statutory responsibilities. With our solution, you don’t have to worry about IR35, the Managed Service Company or Third Party Debt Legislation - you are outside of these regulations.

To know more about Umbrella Company visit our website

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Marketing Articles Subscribe to RSS

Mortgage Outsourcing companies: a Must Have for Mortgage Lenders
Published by Amitaabh Saboo on January 16th 2012 | Business
The procedure of getting a mortgage is able to be tremendously difficult because of the many procedu...
Contract Loan Processors : the solution that many companies seek
Published by Amitaabh Saboo on January 12th 2012 | Business
There are diverse manners by which a company is able to be processing a loan, but the most excellent...
Avail superlative realloctaion srevice by packers and movers companies
Published by Kumari Ankita on April 20th 2012 | Business
Moving from one place to another has become part of our life. In this hyper busy world, we are no lo...
IS BIM worth implementing in medium sized companies?
Published by Macjohn on August 25th 2012 | Business
Implementation of Building Information Modeling has not been a major concern with large construction...
Get Help from PEOs Avail the benefits of the services offered by PEO companies
Published by James Blee on May 16th 2012 | Business
It is not without reasons that more and more organizations are resorting to seek help of PEOs or Pro...
Get premium commercial and residential window cleaning services from credible companies
Published by Mithun on April 12th 2012 | Business
You can find professional cleaning services that are designed to keep your home clean and dirt free....
Texas Utility companies offer best prices in the industry
Published by Jordan Adam on March 28th 2012 | Business
The fundamental reason for Texas Utility companies to maintain low prices whether for Business Elect...
Understanding how energy companies are regulated
Published by Sean Burke on April 19th 2012 | Business
How Britain's energy market is regulated for the benefit of consumers....
Get versatile reallocation services by these innovative companies
Published by Ankita Kumari on January 12th 2012 | Business
Rapid industrialization and commercialization are creating enormous demand for packing and moving co...
The target of business consulting companies and the services
Published by Ema Sis on June 25th 2012 | Business
The business consulting companies employ different approaches and strategies designed for the improv...
Advantages of Tablet Rental companies
Published by Jonathanswift on December 23rd 2011 | Business
Rental companies that are providing equipments and computer for rental are trying their level best t...
IS BIM worth implementing in medium sized companies?
Published by Macjohn on August 25th 2012 | Business
Implementation of Building Information Modeling has not been a major concern with large construction...
Chartering Private Aircraft is an essential form of transport for many individuals and companies.
Published by James Blee on June 16th 2012 | Business
As a qualified Chartered Surveyor with over thirty years of experience providing clients across some...
GH Armor Systems is one of the fastest growing body armor companies, for several reasons!
Published by Thomasgalvin on January 23rd 2012 | Business
There are many companies that handle police supplies and equipment but only a select network of them...
Plant hire companies in New Malden and Epsom
Published by Glyn Jones............ on April 18th 2012 | Business
For any construction company a lot of money is spent on hiring of plants. So it becomes very importa...
Commercial Refrigeration is essential for companies who sell food and drinks
Published by James Blee on June 16th 2012 | Business
For any company that sells food or drinks, commercial refrigeration is a very important consideratio...
Pharma Companies Consider Online companies mothers and fathers Smart ideas
Published by Alan Cott on December 27th 2011 | Business
On the involving high quality a malignant tumor choices, tyrosine kinase inhibitors, or else TKIs, c...
Excellent packing moving and corporate solutions under one umbrella
Published by Abhay Singh on January 6th 2012 | Business
Welcome to a packing and moving company. We solve all the issues related to shifting from planning t...
How do energy companies calculate business gas usage?
Published by Sean Burke on May 4th 2012 | Business
The amount of gas your business consumes should be directly proportional to how much you pay.
Easy moving with removal companies
Published by Glyn Jones Is A Renowned SEO Expert Working For Removal Companies Surrey. They Offer Quick And Safe Packaging Surrey Services And on May 12th 2012 | Business
Moving to a new place can be a quite trouble some job. There is need to hire the reputed moving comp...