How do we keep to our low cost £9.99 Umbrella Company fee?
With Nasa's umbrella company costing hundreds of pounds less per
year than many of its competitor umbrella companies, we are often
asked by our contractors how, and sometimes even why we do this.
Many say it would be simple to charge higher fees and make
more profits, but our philosophy has always been to put our
contractors first.
Not only do our contractors pay low fees, they also get full
employment rights, including maternity pay, sick pay and agency
protections as standard. All of our contrcators under our
umbrella company are also protected by our full HMRC compliance and
expense dispensations. We put compliance right at the top of
our agenda as a responsible umbrella company, so its not just our
contractors who are protected, but also the agencies and end
clients we are fortunate enough to deal with.
All this does come at a cost to us, but by keeping our costs
down we help our contractors keep more of their income. This
in turn greatly assists agencies in making their placements. So how
do we do it…?
- We keep our overheads down
Business costs have to be covered by the fees wecharge for their
services. We don't do flash offices and work over the internet with
all of our clients and contractors to keep our costs down. This
saves us a fortune in what we have to recharge to you…
- We use simple but effective HMRC approved payroll
systems
This allows us not just to keep our costs down, but also to
provide the quick and efficient umbrella company services we have
historically provided and continue to strive for….
- We rely on our contractors to provide their billing
details in a format that speeds our systems up.
Our contractors know that if they provide their billing and
expenses information accurately and on time, then they get paid
quickly. The effectiveness of this cannot be overstated, as
it keeps all the queries and admin time down for us, and
correspondingly we can keep our employee numbers and costs
down.
Our umbrella company fees actually cost less than £9.99 to all
of our contractors. The fee is a tax deductible expense which
we automatically process for you. Once you have the tax
relief the fee nets out to just £5.89 per week.
The good news is that where we repay expenses to our
contractors, this more than offsets any fee we charge and so the
lower our costs, the more the contractors will benefit. In
almost all cases our contractors will make money under our umbrella
company service…
Our contractors often ask us if they can carry on using our
umbrella company when they change agencies and clients.
Obviously one of the attractions of staying with us is the
low cost and as we work with many UK recruitment agencies we can
continue as the HMRC approved umbrella company. Just inform
your agency that you use our umbrella company and let's keep
putting your pay packet first!
You are free to use Nasa with any agency in the UK so if they
try to advise you to go to another umbrella, you needn't leave our
low cost umbrella company.