What Benefits Do You Get With An Umbrella?

4 June 2024

Joining an Umbrella company is often the best way to operate if you do not want to manage your own tax affairs, you do not wish to run your own limited company, or if you cannot operate compliantly in any other way.

This is particularly the case for workers whose roles are deemed to be subject to SDC (supervision, direction, or control) or where the role might be deemed to be “inside IR35”.

Whatever your reason for opting to join an Umbrella company, there are lots of benefits to consider. Not only does a good Umbrella save you the hassle and worry of compliance, it will also be responsible for providing you with accurate and on-time payments, taking care of tax, National Insurance and any other statutory deductions that apply to you.

Whilst you are an employee of the Umbrella company, you still retain the freedom and flexibility of being able to easily switch between assignments without having to switch umbrellas. This continuity of employment is helpful when you want to apply for mortgages or other sorts of loan – you benefit from one tax code and no emergency tax.

Another benefit of being employed by an umbrella company is that you receive the same rights as any other employee, so you’re entitled to benefits such as sick pay, holiday pay, maternity/paternity pay and a myriad of other enhancements. You will be able to join the umbrella company’s pension scheme, and, with Workwell Umbrella, you’ll have the option to pay into a private pension as well, or instead.

The advantages of Workwell Umbrella include:

  • Simple set-up – register and begin working the same day
  • Peace of mind – have your Income Tax, National Insurance Tax and other deductions properly taken care of
  • Full employment rights – including pension, holiday pay, sick pay, and maternity/paternity leave
  • Online portal – use our secure online portal for easy timesheet submission, payslips, employment documents and communication
  • Payment alerts – you’ll get a text message to let you know you’ve been paid
  • IR35 advice – We’re experts in IR35 compliance so can offer tailored advice & guidance
  • We’re open on weekends – we are open from 8am to 6pm Monday to Friday and 9am to 12 noon on Saturdays for advice & support
  • Your allowable expenses – If you incur any allowable expenses in the course of your duties which the client has agreed to reimburse, these can be paid to you in full, in addition to your salary.
  • Mortgage & loans – build a record of continuous employment while enjoying flexible working. Helpful for mortgages and other loans.
  • Insurance – A wide range of cover as standard (Professional Indemnity, Public and Employer’s liability) plus our optional market-leading 24/7 personal accident cover.
  • Employee rewards scheme – Workwell Rewards provides thousands of Umbrella workers with fantastic savings and benefits
  • Trusted agency partner – We work alongside your employment agency to keep everything simple.
  • FCSA accredited – Compliance is our highest priority. Tax, National Insurance, statutory employee rights and insurance – we’ve got you covered.

 

Got a question?

If you’d like to find out more, please get in touch to speak to a member of our expert team on 01923 257257.  Alternatively, complete this form to get a quote.

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