What is Umbrella PAYE?
An umbrella company is a company that acts as an employer to agency contractors who work under a fixed term contract assignment. The umbrella scheme is a useful way of managing contract workers, with benefits for both the contractors themselves and their agency.
One Payroll Solutions offers an Umbrella PAYE solution designed for first time contractors, or for those who do not have self-employed status. Umbrella enables contractors to claim back legitimate business related expenses thus maximising their income. They enjoy the benefits of being an employee whilst keeping the flexibility of contracting.
By utilising an umbrella company, contractors usually earn significantly more than if they were working direct through an agency.