Nowadays, the business model of Umbrella Companies is to provide work and is one of the most used in the United Kingdom and worldwide, offering plenty of advantages for the contractors, workers, and freelancers to get jobs, as well as the businesses providing benefits and solutions using the Umbrella approach.
Being like this, right now there is a great offering of Umbrella Companies with different characteristics and features, which can be very distinctive depending on the niche, industry, general focus and specific purposes. Depending on this description, Umbrella Companies can be better or worse for the contractors.
In the next section we will be showing you the best Umbrella Companies to search for online, according to features and proper characteristics, being the most recommended businesses of this type for workers, freelancers and professionals to have jobs and get employed. But before that, to know exactly what Umbrella Companies would be valuable for, in order to know about the Best Umbrella Corporations out there.
In concept, an Umbrella Company is a business that is focused on the hiring of freelancers and independent professionals, for them to perform different jobs and work projects in their specific expertise, for a limited period of time and usually working along with recruitment agencies.
With the hiring, workers become part of the work-group of the Umbrella company, or put in different words, they become employees. In this way, workers can enjoy plenty of benefits, such as having insurance and the advantages permanent workers usually have in terms of maternity rights, paid vacations and others.
Also, Umbrella Corporations are known for their hassle-free approach in employing new professionals, and by charging a fee, they carry out financial and accounting procedures that in other ways must be managed by the workers, such as tax deductions, payroll management, HMRC duties and more.
Best Umbrella Company: Features it must have
Companies that apply the Umbrella approach to hire staff and carry out different projects have different features, in comparison to the traditional paradigm of limited companies who follow the known step of getting permanent workers with jobs that involve a fixed schedule.
Depending on the way these features are present or applied in the Umbrella Corporation, it can be said that such businesses are to be selected by the contractors and freelancers to work with rather than vice versa.
At the end, the whole point of working with a company of this type is to enjoy the best benefits and get the best deals, in terms of services received, such as insurance, freelance work schedule, paid vacations, maternity rights, medical care- at the moment of paying an Umbrella Company a cut for every project done.
Here are some of the features the best Umbrella companies have:
Compliance: this is probably the most important characteristic an Umbrella company may have, specifically because being compliant with the HMRC means that the business meets all regulations and laws that are mandatory in the UK, in relation to tax and duties.
HMRC compliance guarantees that Umbrella Companies and their employees or independent workers meet the legal aspects and respective duties. This is critical, and usually, Umbrella companies that offer unreal or non-logical take-home pay rates are not working properly or under the HMRC basis.
Ease of access: when it comes to submitting timesheets and other important information on behalf of the contractor, the best Umbrella Companies provide ease of access to their online platforms, on a 24/7 basis to check, upload and download information and data anytime, anywhere.
Insurance services: great Umbrella Corporations deal with the insurance services and solutions for their workers, and for most workers this is the whole point of working with such businesses.
So, with a related fee that is included on every monthly payment Umbrella companies must manage insurance services, such as medical care, professional indemnity, employers´ liability and more.
Non-related exit and registration fees: the best Umbrella Companies and businesses of this type that work under a serious approach will never require or ask for any registration or exit fee.
If this is the case, the best thing to do is to search for another Umbrella Company that does not charge any fee for registration, exit of the corporation or for taking part on a project, since this is the way to go for serious businesses.
Price and clarity respecting terms: one key thing to consider at the moment of choosing an Umbrella Company is price, being very important how they calculate take home pay, rates, fees and more. So, comparing between businesses and how they pay is the best thing to do.
Another aspect to consider is the terms of every project and contract in general, or at least the way and approach every candidate company has at the moment of expressing terms for projects on paper, in relation to time, cuts, resources and characteristics. Remember, great Umbrella Companies usually apply the PAYE or Pay As You Earn approach.
Of course, there are other great features the best Umbrella Companies have in the UK and worldwide, such as having accreditations that prove excellence as PRISM or FCSA, as well as providing guidance for contractors, have great experience, full contract approach and offer as it was said prior, a transparent and reliable charging structure that is impossible to relate with frauds or fake schemes.
List of Umbrella Companies
In relation to the characteristics and features we have described in the previous section, it is possible to offer a list of Umbrella Companies that actually meet all of them and even provide more advantages, being highly trusted, award winners and with incredible experience in the field in the United Kingdom and overseas.
Here are three of the best Umbrella Companies to consider:
1st Choice Umbrella: for many people, experts in the matter, freelancers and professionals in general, the 1st Choice Umbrella is the best corporation of this kind, being totally compliant, with a 24/7 access to a personal portal that allows workers to carry out procedures and submit information permanently. In the same way, full insurance coverage is provided for a great set of situations, events and legal affairs.
Umbrella Company UK: this is another outstanding Umbrella Company in the United Kingdom, with a compliant approach and plenty of benefits, ease of access online, app related use and insurances that may surpass several millions in coverage for accidents, death, maternity and more. The Umbrella Company UK is related to transparent and fast payments.
Brookson One: the Brookson One Umbrella Company is known for its transparency in payments, great rates, low fees and coverage in every insurance and managerial aspect, in relation to administrative functions on behalf of the contractors, being the main reasons why freelancers look to be employed by Umbrella Corporations in the first place. Ease of access and mobile app are guaranteed.
Of course, there are other state-of-the-art Umbrella Companies in the UK and England that are worth mentioning, but the list will be quite extensive and it will be impossible to include them all. Nevertheless, there are a few that can be highlighted and definitely are of the best in this field for hiring professionals and contractors for jobs:
- Parasol Umbrella Company,
- Crystal Umbrella,
- Accurity Umbrella,
- FPS Group,
- Umbrella People,
- WEPAYE Umbrella,
- PayMatters Umbrella,
- One Click Umbrella and,
- DNS Umbrella.
Umbrella Company reviews
Due to the many characteristics that are searched for in Umbrella Companies on behalf of the contractors and freelancers, looking for the best option could be a complex process because due to the many aspects that must be addressed, in terms of contracts, time, payments, insurance, online platforms available, experience, transparency, compliance and many other features good businesses of this sort must have.
Fortunately, there are Umbrella Company review websites available online that will allow independent professionals to decide easier, and therefore making it easier to compare their characteristics, possible flaws, approach, advantages and more.
For example, IT Contractors UK is a great review site with respect to Umbrella Companies and everything that has to do with the matter, such as news, Umbrella services, recruitment, calculators and more, even being themselves an Umbrella Company of name in England. The website address is www.itcontractorsuk.com.
There are other review web pages for this type of businesses, and they play a huge part in choosing a transparent and great to work with Umbrella Company, being able to perform research that will help to make the best decision.
With a review it’s more simple to have access to information, features and general description of an Umbrella Corporation, in comparison to a process of research that will require several hours to include the same data. This is where the real importance and impact of review sites for this type of businesses reside.
Parasol Umbrella Company
If there is an Umbrella company that really stands out at the present time in the UK due to great advantages, plenty of features, transparence and other benefits it has, the Parasol Umbrella Company is the business to call for.
The Parasol Umbrella Company is the corporation built around you as a contractor, whether professionals are new at contracting or simply want to have the opportunity in another company of choice, with great advantages and are aware of the mindset entrepreneurs currently have.
With Parasol, freelancers and contractors get to work with experienced experts in the business, providing amazing features and possibilities of work and general integral growth, by increasing income and the chance to perform projects for many clients and customers worldwide, with low fees, insurance coverage, fast payments and legal and transparency business with HMRC compliance.
First of all, at Parasol is possible to choose between two contracting options, depending on the characteristics of work, career and general purposes, so limited and Umbrella possibilities are on the table for better selection and career path. Guidance is very important in respect to this matter, and the company offers the aid of specialized professionals to help you decide.
With Parasol all known benefits regarding Umbrella Companies are included and more, being a hassle-free corporation that allows workers to do exactly that, work at their fullest to provide the best outcome possible.
To that end, Parasol deals with Income Taxes, National Insurance, HMRC obligations and of course all of the benefits respecting private insurance, medical care, paid holidays, payroll and more that would be the responsibility of the freelancers, but in this case this is all covered by Parasol with the purpose of providing benefits of permanent work and jobs to employed professionals.
Parasol is an Umbrella Company to trust, being one of the pioneers of the segment by been created in the year of 2000, guaranteeing the best experience and the possibility to be guided by real experts in the business model of hiring that is definitely here to stay.