If you take a look on the internet you will see that there is a wealth of umbrella companies for you to choose from. These businesses provide extensive benefits for contractors and freelancers. They can save time, hassle, and even money. Paperwork will be eradicated and taxes will be dealt with properly. It is the ideal solution. Nonetheless, you will only feel the full effect of these advantages if you choose your umbrella company with care. Read on to discover all of the questions you should ask before agreeing to the services of an umbrella company…
How long will it take for my money to be paid?
First and foremost, you want to know how long it will take for you to receive the money you have made. When dealing with an umbrella company the only thing you have to do is submit your timesheet. The company will then take care of everything for you. They will pay all of your taxes and submit the net profit into your bank account. Nonetheless, you will want an idea of how long you will have to wait for this money to show in your account. After all, most people cannot afford to wait too long in today’s economic climate.
Can I see some of your previous customers’ testimonials?
You should read reviews that have been left by previous customers. This is the best way to get an honest assessment of the level of quality the company provides. You will find out whether they deposit money as quickly as promised, whether they are easy to get in contact with, and so on and so forth. Make sure they have experience in your line of work. For example, you can get more information on applying for government contracts, and if you want to do this, your umbrella company definitely needs to have handled this before.
How much do you charge for your services?
The next question you need to ask the company is how much you will have to pay for their services. It is important to point out that a lot of companies promise they will lower the amount of tax you pay. Please do not be fooled by these businesses. This is impossible. After all, taxations are put in place by the government, and therefore no business has the power to alter these. The only differentiation in costs is in relation to the fees you have to pay.
How does the service work?
You need to get a thorough idea regarding the service provided by that company specifically. How do they handle their operations? Do you submit your timesheet online? Is there a contact number should you have any questions? Will you receive email updates? A lot of companies have a database online whereby you can view all of your details and upload your timesheets. Nonetheless, every company is different, and thus you need to get a complete understanding of what you are paying for before you go ahead and agree to the service.