Some of the benefits of an Umbrella company solution are compared to a Limited company are:
Avoid the hassles of using the umbrella scheme rather than running your own limited company e.g. administration, accounting, banking, official documentation, tax returns and all the other responsibilities associated with being a director of a limited company
- not having to expend time and effort running your own limited company
- Once you have been set up by the Umbrella Company , you simply complete and submit your timesheet and expenses and they will invoice the agency and handle the debt
- you will have employee status (not available if you are Director of a limited company) for the purpose of dealing with banks and other financial institutions (e.g. it can be more complicated gaining mortgages and life insurances as the Director of a limited company).
- pre-approval by HMRC of the most common allowable expense claim items
- bundled insurances, including Professional Indemnity cover and Employers and Public Liability insurance
Avoid the hassle of running your Limited Company.