Using An Umbrella Company

By Author: Rachael william
Total Articles: 31
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Freelancing or contracting can provide a very beneficial way of making a living. Many people dream of the day they are their own boss but the administrative hassle of running a limited company means that the dream can become harsh reality all too quickly. An umbrella company affords the contractor the same benefits of setting up their own limited company but without the hassles and with a number of other benefits.

The biggest benefit of using an umbrella company is that it reduces or eliminates the administrative work that you need to do. It is unlikely that you became a contractor to deal with the paperwork, chase up invoices, and sort out payments. By becoming a part of an umbrella company you can concentrate on the provision of a top quality service to your customers and clients while the umbrella completes the administrative duties for you.

Registering with an umbrella company should be quick and simple. You provide details about yourself and your contracts and then you sign a contract of employment. Your umbrella company may then provide you with a breakdown of how much you should expect to earn after tax ...
... and umbrella fees and both you and the company sign a contract to this effect. Once this is complete you can start working, safe in the knowledge that the running of your business and finances is being left to professionals.

Expenses tracking and claiming can be a complex issue especially for contractors. So, too, can tracking time and the hours that you put into a specific contract. A good umbrella company will be able to provide you with simple and intuitive tools that enable you to complete your claims and your timesheets online; information that is then used by the umbrella to draw up an invoice.

The umbrella company will deal with invoicing and payments too. They will create an invoice according to the information you provide and send this to your client. Once funds reach their account, the umbrella company will then forward this money to your bank so you receive your earnings quickly and on time every time without you having to deal with the embarrassment of chasing money from your client.

planIT-solutions.co.uk is an umbrella company that is dedicated to ensuring that contractors and freelancers are able to maximise their earnings and even enjoy a greater relationship with customers.