Ok, now you have taken the first step by moving into the world of being a freelance or self-employed worker and you have also decided that working with an umbrella company is something you would rather do, other than setting up a limited company.  The only step you have left is actually deciding which umbrella company you would like to work with.  This is not necessarily an easy decision, as choosing the right umbrella company to work with can make a huge difference in the success of your business and becoming an independent contractor.

 

Independent contractors are often times introduced to umbrella companies like PAYE through the agency they are working for.  You should remember that sometimes these companies are partners of the agency and receive referral commissions for recommending certain companies.  In fact, more times than not, these umbrella companies are not going to be the best choice for you and it is recommended to do your own research to find the best one for your success.   During this article, we are going to go over a few steps that you can take to make sure you find the best PAYE umbrella company for what you need.

 

The first thing that you need to make sure you do is hire a company whose structure of fee is geared towards you.  With this said, fixed fee contracts are more often best for higher earning contractors, as it will ensure that you take home the money you worked so hard for. Read http://money.cnn.com/2015/04/03/news/economy/jobs-wages-salary-quitting/ for news about the latest in wages.

 

The next thing you will need to make sure of is to avoid companies that have entry or exit fees and even minimum term commitments with penalties for leaving early.  This is because, if you do decide to leave the umbrella company before your contract is up, you may end up having to pay a huge amount in fees to do so.

 

You should also keep in mind that when you join an umbrella company, you should be offered a full contract of employment.  This means you should be awarded with all of the benefits of being an employee of an umbrella company like holidays, sick pay, maternity leave, pension provisions and minimum wage. Click here to visit a website of a reliable umbrella company.

 

If you are thinking of joining or working with an umbrella company, these tips along with many more will help you choose a company that will benefit you, as an independent contractor, the most.