Contracting through Umbrella Company

Emmalousie94

Hi,

If anyone has any advice and or experience in this area it would be great!

I work in the area of Data, Basically I've been offered a job through a recruitment agaency which is great, but once he started talking about the contract of employment I got confused. He said I would be on a daily rate, I would either have to set up as a limited company myself and or set up through an umbrella company. He lost me at umbrella company. He strongly advised to go down the umbrella route, to look at contractingplus specifically. Has anyone gone into employment with via an umbrella company? Is it a pain to deal with? I presume there take a cut of your salary? What are the postive and negatives to working under an umbrella company. Its honestly putting me off the job. If anyone has any expereince or advice id greatly appreciate it.

callaway92

Girlfiend using an umbrella company for the first time in her life with her newest role (in Pharma)

No painful at all - The recruiter probably has contacts to help set you up

They will help you get the highest nett pay possible in fairness. She's on 90k gross and it's surprising how much she's able to claim back in expenses etc. Don't let it put you off the job.

Give contracting plus a shout, I used them a few years back and it was completely painless. At the end of each month you get your manager to sign-off on the hours worked for the month and you send that to contractingplus - they'll subtract all tax, usc etc and pay you your gross wage. You pay a monthly fee, can't remember what it was but it wasn't much. I can't stress enough how little hassle is involved in getting set up.

I've been working this way for about 5 years now. It's really very painless. My accounting firm set up the company and do all the tax and administration. I need to do my tax return once a year but as all my income goes through them, its just a case of signing the form.

There is a fee for doing this, with my crowd its 135 a month, but they take that out of your salary before it gets taxed, so you dont feel the cost.

I know it feels daunting at first, but whichever provider you go with, they will take the hassle out of it.

Ash.J.Williams

https://www.boards.ie/discussion/2058244434/contracting-through-umbrella-company

ContractingPLUS are great

Jim2007

https://www.boards.ie/discussion/2058244434/contracting-through-umbrella-company

First off you are going to have to go with one or the other - a payroll company or set up your own company. If you go down the route of setting up your own company, in addition to doing the stuff a payroll company does for you, you'll also have to do the stuff associated with running and owning a private company... so no matter how much effort is involved in using a payroll company, there is a lot more if you have to do the whole thing yourself.

Another thing that is not mentioned here, but if you are doing it all yourself, you'll also have to doing things like chasing down debt etc... Clients don't always pay on time - I forgot, we don't run payments every month, we are disputing the invoice etc.... the payroll company sorts that kind of stuff out.

Emmalousie94

Many thanks for the reply’s! Definitely after settling nerves! And pushing me towards the job! Thanks very much!