A lot of umbrella companies will tell you the same thing, that they are HMRC & IR35 compliant, they have the best service in the industry and that they will provide you with the most take home pay. Once you ask for certain documents, such as an employment contract, professional insurances, and their HMRC approved expenses policy – will help you to attain whether the umbrella company is credible.
Choosing your umbrella company
Top umbrella companies will be able to provide you with the documents that you request and will be happy to meet with you face to face to answer your questions.
You will come across a diverse range of umbrella companies such as: Tarpon; ContractorUmbrella; Giant Strongbox Parasol IT; Pulse Umbrella; Springboard; Liberty Bishop; Oxygen 360; Parasol Group; Orange Genie; Atlantic umbrella; Crystal umbrella; Danbro; Plan IT; Alternet; Bedouin; Paymatters; Churchill Knight; Excellium Umbrella; Zeva; Danbro.
There are a few things that you can look out for by yourself to determine the credibility of the umbrella company:
Sales line v. account line
Does the umbrella company have one telephone line for everything? Tarpon have a central phone number for general enquiries and several dedicated phone numbers for their contractors.
Meeting the team
Does the umbrella company welcome meetings at their offices? Tarpon invite contractors and agencies into our offices to meet the team face to face. Tarpon also organise contracting events for their contractors allowing you to meet like minded contractors.
Business email
Does the umbrella company use a business email address or hotmail account? Tarpon have individual email business addresses for each member of staff and for each department.
Service guarantee
What guarantees does the umbrella company make about processing your payroll correctly and on time, every time? Tarpon offers a leading service guarantee to every contractor.
Umbrella insurances
What level of insurances does your umbrella company offers for contractors? Tarpon provide £10 million Employers' Liability insurance, £5 million Public Liability insurance and £5 million Professional Indemnity insurance cover, all as standard.
Payroll frequency
How flexible is the umbrella company with their payroll? Tarpon will process payroll on a weekly, fortnightly or monthly basis depending on the contractor’s requirements.
Fees and charges
Does the umbrella company charge you a joining fee, a fee for leaving, charge you when on holiday or fix you in for a certain period? Tarpon does not charge contractors for joining or leaving – contractors are only charged whilst they are working; not even during their holidays.
Additional fees
Does the umbrella company make additional charges for raising invoices, issuing payslips, P60's, reference letters, etc. Tarpon does not have any additional fees as all services are inclusive.
Phone lines
How long does it take to for the umbrella company to answer the phone? Tarpon will pick up the phone within 3 rings.
Call centres
Do you know where the umbrella company is based and the credentials of the company? Tarpon offices are based in the UK and the team consists of experienced tax advisors and business managers.
Service
What type of service does the umbrella company provide? Tarpon assign each contractor with their very own business manager who act as a PA, accountant and advisor all rolled into one.
For information about Tarpon’s contractor benefits – request a free umbrella company pack.
To speak to one of our tax experts call 0800 434 6402.
