Umbrella Company (Director)

Umbrella Company Director

This is the most popular solution for Professional Contractors operating on higher daily rates, who plan to contract in the short-medium term and who don’t want to set up their own company.

This solution is free to set up, there are no sign-up fees or leaving charges.

You will receive pro-active advice about claimable business expenses to ensure you are maximising your take-home pay.

Your pay will be calculated with deductions made for tax, PRSI and USC so you can be confident that you are always up to date with your tax liability and are tax compliant.

Getting started is Easy

1. Schedule a call-back at a time that suits you, or simply call us on 01 6110707.
2. One of our expert Solutions Consultants will run through some questions to get a good understanding of your personal situation and will recommend the best Solution for you.
3. We’ll send you a detailed breakdown of your estimated contracting take-home pay. (Contracting PLUS have the highest retention rates while making sure you stay fully compliant with the Revenue Commissioners.)
4. We’ll email you the registration form, simply complete it and we’ll have you set up in a matter of hours…we can fast track your registration if you’re under pressure.

The Benefits of an Umbrella Company (Director)

• Free and immediate set up. No leaving fees.
• 60 day money back guarantee so you can try us out without any risk.
• Minimal administration for you – use our app and portal to upload photos of your expenses – we look after everything else.
• Pay as you use service. No minimum contract.
• We process your pay on the same day as funds are received –  guaranteed.
• Includes company insurances (Professional Indemnity*, Employers Liability, Public Liability).
• Dedicated Account Manager to answer all your questions.
• Once you use the service for 6 months or longer in the year, your Personal Tax Return is included.
• Claim business expenses to maximise your take-home pay.
• Tax Efficient Pension Options and a Free Financial Review are included as part of the service.

What about Taxes and Accounts?

Once you’re registered (just one simple form) Contracting PLUS will manage all your administration from invoicing, expenses, payroll, tax affairs, and accounts – all included in the affordable monthly fee (which is a tax-deductible expense!)

As a Director of an Umbrella Company, you must file an annual Tax return, however, we will do this for you, and if you’re using the service for 6 months or longer, it’s included in your monthly fee.

We work to keep you and your Umbrella (Director) company fully tax compliant while providing you with the best advice to build wealth for your future.

*Professional indemnity insurance is generally provided unless you are contracting as a doctor or pharmacist. This would be the industry standard. Our team will let you know what insurance cover you will have when you are on a call with them.

What is an Umbrella Company

Very simply, an Umbrella Company (Director) is a fast and convenient accountancy solution which allows professional contractors in Ireland be up and running as a self-employed contractor on the same day.

You get almost all of the benefits of being a director of a limited company without the same expense and administration involved in setting up your own limited company.

The Umbrella Company Director solution allows you to avail of claimable business expenses and tax benefits that are not available to PAYE workers, which means that you are maximising your income.

You can jump in and out of an umbrella company as and when you need to. When you work with Contracting PLUS, Umbrella Companies are free to join, there are no sign up fees and no leaving fees.

Umbrella Company – How it works

Good to Know

Under the Umbrella Director solution, you contribute Class S PRSI. While this may affect your PRSI benefits, the Government has been moving to equalise benefits paid to both employees and self-employed contractors.

Class S PRSI means you are still making contributions towards;

• Contributory State Pension
• Maternity/Paternity/Adoptive benefit
• Treatment Benefit (some opticians and dental treatments)
• Jobseekers Allowance
• Jobseekers Benefit (from November 2019)

Who Should use an Umbrella (Director) Company

• Those who want to spend less time doing admin and spend more time doing the things they like.
• Those who need a quick set-up (same-day).
• Medium to high daily rate earners.
• Those on medium to long term contracting roles (6+ months).
• Longer term contractors who don’t need/want their own Personal Limited Company.
• Those who might return to employee status after their contract role ends.
• Contractors Relocating To Ireland with the correct working authorisations.

More then Just an Umbrella Company

As a Contracting PLUS Contractor, you get way more than just an Umbrella Company.

• A Dedicated Account Manager
• Free Financial Review
• Mortgage Advice
• Discounted Health Care
• Access to our Group Discount Scheme
• Access to our Learn platform

Check out Contractors Hub for more details on all the added benefits of choosing to work with Contracting PLUS