Contracting through an umbrella company has become very popular in recent years.
After all, this route offers the freedom of contracting and employment security.
Moreover, with recent confirmation from the current Chancellor, Jeremy Hunt, that it would remain the client's responsibility, not the contractor, to determine IR35 status, many limited company contractors will be looking to move to an umbrella in 2023.
If you have decided to leap to an umbrella this year, the next stage is to find an umbrella company that best fits your contracting needs.
After all, no two umbrella companies are the same. That's why it's so important that contractors do their research to find the best company for them. Thankfully Umbrella Search is here to help.
In this guide, Umbrella Search explains how we can help every contractor find the best umbrella company for their contracting needs in 2023.
Step 1: compare service level
The first step to finding the best umbrella company is to compare the level of services each provider offers.
After all, every contractor is different and has different needs, requirements, and preferences. That's why finding an umbrella company that caters to you is essential.
Whether you are looking for help with expenses, need same-day payments, or seek advice on pensions, it's essential to check what services an umbrella company offers and whether they offer the right ones.
Step 2: compare take-home pay
Inevitably, how much you will take home will impact which umbrella company you choose to work with. So, when looking at umbrella companies
It's essential to look at factors such as:
How much will you pay in tax
How much will you pay in Insurance
How much your pension contributions will impact your pay
How much will be deducted from your income in umbrella fees
Step 3: compare umbrella fees
Comparing how much you will take home each month involves looking at what you will pay in umbrella fees with each company.
It's important to remember that the company with the lowest fees is only sometimes the best option as they may not offer services or benefits that are important to you. Similarly, no contractor wants to pay sky-high prices when this is avoidable.
That's why it's important to compare companies based on how much they charge in fees and what the contractor will receive in return for the fee to ensure you get a fair deal.
Step 4: compare only the best companies
When choosing an umbrella company, you will understandably want to work with one you can trust.
After all, although most umbrella companies out there can be trusted, like in any industry, there will always be a handful that needs to be added. That's why it's essential to research and find an umbrella company with a solid reputation.
Whether you research reviews on google, gain word-of-mouth recommendations or look at resources such as the Freelancer and Contractors Services Association which ensures that umbrella companies maintain strict standards, there are several ways you can ensure that the umbrella company you choose can be trusted to have your best interests at heart.
What's more, Umbrella Search will only ever recommend reputable umbrella companies we know you can trust. We are 100% objective and have no vested interest in any umbrella company, helping you find the best company.
Step 5: it's all in the detail
The final step to finding the perfect umbrella company is to provide Umbrella Search with your contracting details.
We can work hard for you from here, comparing the best options based on your needs.
Our friendly professionals will look closely at your contracting needs and requirements to create a personalized list of the best umbrella companies for you.
We're always here to help and will be here to talk whenever suits you, so you can take the time to make the right decision.
We also allow contractors to edit their information at any time. If you want to make any changes to your quote to see how they will directly impact your results list, that's no problem. So, say you wanted to see how changing your pension contributions altered your results. We allow you to make these edits so you can rest assured that you have covered all bases.
Ready to use Umbrella Search to find the best umbrella company in 2023?
Suppose you are considering the move to an umbrella in 2023. In that case, Umbrella Search is here to help you find the best umbrella company based on fees, take-home pay, benefits, and service level so you know you're making the right decision.
Forget spending your precious time and energy browsing the web looking for the best umbrella company. We take all the hard work out of the process for you.
We have helped thousands of contractors find their perfect fit. Whatever you are looking for, we can help you find it.
If you're ready to see what we can do for you in 2023, start by entering a few key details, and we will do the rest, getting back to you with the best options tailored to you. Ready to kick start your contracting career today?