What is an Umbrella Company?
An umbrella company is a company which employs contractors who are providing services to clients on a temporary contract for recruitment companies or end clients. The umbrella company allows you to offset the costs associated with your business related expenses, meaning that you receive a higher percentage of your pay to take home. The umbrella company will pay all of your PAYE (income tax) and National Insurance Contributions directly to HMRC.
Is an Umbrella Company right for me?
An umbrella company gives you legal status as an employee, meaning that you receive full employment related rights and entitlement to statutory employment related payments, all whilst allowing you to maximise your take home pay. There are no unexpected tax bills, and nothing to do at the end of the tax year, so it’s a hassle free option. As it’s the simplest possible solution for most contractors, it’s commonly used by anyone who is new to contracting, or who wants a quick and easy solution with no long term commitment.
How is the Green Lantern Umbrella Company different?
We know that there are lots of umbrella companies out there, and it can be a minefield to choose the one for you. As the calculations from one Umbrella Company to another should always be the same, it is important to select an umbrella company that has some additional benefits for you, and Green Lantern is proud to have built a service that sets us apart from our competitors. We will offer you:
- A comprehensive online portal, allowing you to view all of your payment history, submit timesheets, expenses and change personal details 24 hours a day
- Dedicated customer service, payments and expenses teams available from 8am to 8pm, plus on a Saturday morning and a guaranteed same day response for all queries
- Same day payments, and a text message when we pay you, showing you your net payment amount
- Email, post or online payslips
- Excellent partnership with UK recruitment companies
- Fully inclusive business insurance package
- Full compliancy with all legislation, and a dedicated in house compliance team
- Childcare voucher scheme available to all employees
- Dedicated financial services support for contractors via an independent financial services organisation who specifically tailor their options for contractors and temporary workers
How do I take things further?
Whether you simply would like to ask us some questions about how it all works, or if you have already made the decision to go ahead, just give us a call on 0207 164 2116, or complete our online form. We guarantee that you can be set up and ready to go, and we’ll have made contact with your recruitment company the same day. We’ll also provide you with the mobile number of your point of contact here at Green Lantern – even out of normal office hours you’ll always have a point of contact.