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Umbrella companies
What is an umbrella company?
The way an umbrella company works is pretty simple. You, as the contractor, become an employee of the umbrella company. This means that Sellick Partnership will pay the umbrella company and the umbrella company deducts the necessary PAYE and national insurance contributions before paying your salary.
An umbrella company will employ you under a contract of employment so, whether you carry out one assignment or 100, you'll be employed under the same contract, giving you a record of continuous employment. This helps with mortgage or loan applications, and it also helps to ensure that you're on the correct tax code whilst providing you with just one pension pot. As with agency PAYE, you also get access to statutory benefits such as maternity and sick pay but with the added benefit of an inclusive insurance package.
Choosing an umbrella company
Sellick Partnership requires the very highest standards when it comes to compliance – this is to protect both ourselves and our contractors. So, what are the risks and benefits with using any given umbrella company? For more information view our blog on choosing an umbrella company.
Here at Sellick Partnership we believe in assisting our contractors wherever we can and as such we have undertaken a review of umbrella companies. Please find below the details of Sellick Partnership’s list of approved providers. Please note the below companies do charge for their services.
Crest Plus
01244 684 700
admin@crestplus.com
www.crestplus.com
Danbro
01253 600 140
enquiries@danbro.co.uk
www.danbro.co.uk
Giant
0330 024 0946
welcometeam@giantgroup.com
www.giantgroup.com
PayStream
0800 197 6516
newbusiness@paystream.co.uk
www.paystream.co.uk
Parasol
01925 645 265
bestadvice@parasolgroup.co.uk
www.parasolgroup.co.uk
Umbrella company benefits
Each of these umbrella companies have the following benefits:
- They are fully tax compliant and do not offer tax avoidance or other such schemes that can put the candidate at risk.
- Their financial practices have been independently audited and they have a longstanding trading history.
- They are fully insured and cover all types of professionals.
- We have ongoing working relationships and could assist if a contractor has a particular query.
- They comply with pension, holiday pay, minimum wage and payslip legislations. We conduct an internal review each year to ensure they are still fully compliant. Each has their own unique set of contractor benefits, which can range from healthcare cash plans to employee rewards, discounts and loyalty schemes.
- No need to arrange invoices – Sellick Partnership will do this on the contractor’s behalf, meaning they only need to submit one timesheet.
- Free of charge advances if a timesheet is approved late.
- Giant, PayStream and Crest Plus pay on a Wednesday (Danbro and Parasol pay on Friday).
HMRC advice on tax
Are you a contractor, agency worker, or working through an umbrella company?
Learn how to spot the signs of tax avoidance. This includes how to check your pay – to make sure you’re paying the right amount of tax.
HMRC's information pages can help you understand your pay arrangements so you don’t get any unexpected tax bills.
For more information go to HMRC’s information pages Tax avoidance - don’t get caught out
Disclaimer
Please note these companies are not connected to Sellick Partnership and do charge separately for their services.
This list has been compiled following a compliance review of the above providers. It is entirely your decision which provider you engage through and we advise that you seek independent advice.
Should you chose to use another provider not listed, they must provide all necessary documentation including, but not limited to; certificate of incorporation; VAT certificate; UK business bank account details; 3rd party certification of tax compliance; valid insurance documents (your Sellick Partnership Consultant can advise you of the level of insurance required). It is your responsibility to ensure that they comply with all relevant legislation. Sellick Partnership will not be liable for any losses, costs, claims, expenses, penalties or any other liability incurred by that provider, including those which may arise as a result of your use of this third party provider.
The above list will be reviewed to ensure our contractors are provided the best service and as such the above list is not permanent. Sellick Partnership reserves the right to amend this list should a provider fail to satisfy either a compliance check or levels of service deteriorate.
Although Sellick Partnership has conducted a compliance review of these providers we have not conducted a full audit. Compliance within the recruitment industry is complex and subject to changes within best practice, as such we advise that you should conduct your own checks to satisfy your own requirements. Sellick Partnership cannot accept responsibility for any claims, demands, actions, proceedings, damages, loss of profit, consequential, direct or indirect costs resulting from the use of any of these providers.
More from Sellick Partnership
Advice for contractors
This area of our website is dedicated to contractors who are currently working with us, or those considering moving to a contract role. With extensive sector knowledge and a vast network of clients, we are the perfect recruitment partner for you.
Personal service companies
We believe in assisting our contractors wherever we can. Here you can access documentation relating to Key Information Documents, submit online timesheets and discover more about PSC contractor insurance, as well as find information about how you can get paid.
PSC contractor insurance
To make the process of arranging cover easier for our contract candidates, we have partnered with Kingsbridge Contractor Insurance and have also negotiated a 10% discount for all Sellick Partnership contractors. Follow the link for more information or get an instant quote.