What is an umbrella company?
The objective of an umbrella company is to provide a flexible solution for contractors to benefit from being legally tax-efficient. In effect, an umbrella company will employ a contractor for the fixed term of the contract assignment, and supply that contractor to employment businesses like Spring; it will take responsibility for the contractor’s invoicing and payment arrangements during a contract assignment, accounting at source for any income tax and national insurance due.
An umbrella company can offer many of the benefits of a limited company, including most of the allowable expenses without the admin or statutory responsibilities. In addition, an umbrella company will also have insurance policies that automatically cover all the contractors that it employs.
With an umbrella company, you don’t have to worry about IR35 and the MSC legislation; you’re out of both territories altogether.
Spring appointed Giant Group in 2006 as an exclusive partner. Spring’s objective was to associate with a company that could offer contractors the best possible products, second-to-none service and full compliancy. It is highly recommended, although not enforced, that any contractors wishing to use the services of an umbrella company do so through Giant.
Since 1992 Giant has been a major player in respect of offering umbrella services for the temporary recruitment market. Spring believe that their overall track record is unsurpassed in terms of delivering greater compliance, stronger financial stability and faster, smarter, systems than competitors in the field.
Giant is confident that the Giant Strongbox umbrella offers more than any other umbrella service you will find. You can look forward to excellent speed of payment, higher net income and extra special services with no extra or hidden charges. In Spring’s opinion and experience, Giant offers more accuracy, security and accountability than any other umbrella company in the market.
Giant Strongbox was voted Best Umbrella Company 2006 by readers of ContractorUK.
For more information, please contact Giant’s Welcome Team on 0870 125 8640.