Once you have made the decision to use an umbrella company and have selected a company you wish to use, the next step is actually joining the company.
In most cases, you are able to register with the company online but if you would prefer to speak to someone first and register over the phone there is usually a phone number attached to the website.
The majority of companies will be able to have you account up and running in as little as 24 hours.
Information Required
If you already have an ongoing contract position or if you are just about to begin a new one, you will be required to give all the information you have on the contract to the umbrella company. This will include things such as dates for commencement and completion, the fee that you are getting paid and the manner in which you are getting paid (weekly, monthly, daily, hourly etc). Once you have done this you will then need to provide the recruitment company that facilitated the contract with the details of your umbrella company. The recruiters or potentially the client will then send your umbrella company a contract, which will be signed and returned.
In order for the umbrella company to process your payment and deal with your tax obligations, you will need to provide the company with your bank account number and information, your national insurance number as well as your P45 if available. You may also be required to sign a contract saying that the umbrella company employs you.
Getting your Payments
Once you have signed up with an umbrella company and have provided all the necessary information, you are then able to begin your contract and focus on your work. At the end of each week (or month) you would then submit your timesheet and expenses that you wish to reclaim.
This can be done online with almost all umbrella companies and they will then submit your invoice to the recruiters or the client on your behalf. After the payment has been made to the umbrella company, they will subtract their fees as well as any tax and national insurance that needs to be paid before then releasing the remaining payment to you. This payment will usually be made directly into your bank account meaning it would take as little as 2-3 days and what you receive is yours to spend with all the tax and other liabilities already having been paid.