Running payroll for hundreds of workers can be time-consuming, stressful and expensive. Employer’s responsibilities for so many people requires a lot of administration work, compliance with current legislation, correct calculations of tax and NI, handling payments to HMRC and employees. That is why plenty of recruitment agencies and organisations engaging with temporary workers prefer to outsource their payroll responsibilities. By outsourcing payroll to an umbrella company, temporary workers can be paid without any problems and deal with the umbrella company, while firms can focus on growing their business.
So what is an Umbrella Company?
Contracting through the umbrella company means that the contractor would be subject to full tax and NI as if a full-time employee would be. Contractors employed under the umbrella system will enjoy all the benefits and protections as any other employee would have. However, there are a variety of other benefits to joining an umbrella company.
Benefits for the contractor and for the company:
If you’re a contractor, you can be ensured that :
If you’re an organisation looking to outsource payroll to Umbrella Companies:
Why choose the Finanspol Group Ltd umbrella?
If you join Finanspol Group Ltd, you can rest assured that all the responsibility for paperwork, tax compliance, payments, calculations and employee administration will be handled with care. Since 2014, when starting as an umbrella company to one contractor who needed a Polish-speaking employer, we have grown to be an umbrella employer to over 1000s of employees throughout the UK.
We are proud to be a family run business and our dedication, expert advice and excellent support set us apart from other providers.