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Viewing Umbrella Company Registration from 9 IR35 - What Contractors Should Know about IR35 Written by Contractor Supermarket

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Umbrella Company Registration

For many ‘numbers' are a mystery - always have been and always will be - and having to hold a conversation with a stranger on the subject is like sitting a vital exam which you know you stand little chance of passing. You feel lost and uncomfortable, always finding a reason to put the call off for another day. But that call has to be made.

What should you expect?

What questions are you going to be asked?

What questions should you be asking?

When you first call an umbrella company, you will be put through to their ‘registration' team. An individual who should know everything about the process and be able to answer every, and any, question you may have.

Don't be afraid to say something as simple as 'I need an umbrella company, but I don't know why!' that's all you need say for a good one to be able to put your mind at rest.

It's their job to explain their services to you, if they don't, or plainly can't, then move on.

You are the customer, it is your money; ensure you understand what you're being told. If you don't, then don't be afraid to ask again - as many times as necessary for you to fully understand.

 

What you want to know from your umbrella company representative:

What service do they offer; can they confirm it is a pure PAYE Umbrella company?

Exactly how do you interact with them on a daily basis?

How often do they run their payroll, is it daily, weekly or monthly?

When do they need your timesheet in by?

What sort of expenses do they allow; do they require receipts?

What documents of yours do they require eg, P45, passport, tax-code?

What levels of insurance cover do they include in their fee?

What ‘extras' are you expected to pay for?

Will they give you an estimate of your net take home pay?

Though much of this information is freely available for Contractor Supermarket visitors (see each umbrella company's review page), your umbrella company should still volunteer this information to you. In addition, like any good customer focused company, you want them to be polite, friendly and not continually pestering you to ‘sign-up' before you've had a chance to really consider your options.

In summary:

The service should be explained in accurate but simple terms.

They should not encourage you to claim for expenses that you will not incur (that's breaking the law).

They should treat you with respect.

They should remember that you are the paying customer, not them.

Finally, and a point which can't be stressed too much - you are the customer. The customer is king. Spend your money with a company who works hard to earn it. Not with one who thinks they're doing you them a favour.

Visitors who read this article went on to read these articles:

1. Ten myths about IR35
2. The IR35 Test for Contractors
3. One minute guide to IR35
4. IR35 Umbrella Companies
5. Get more out of your umbrella company

 

 

written on2010-07-30 00:18:04

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