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Umbrella companies offer employment to temporary workers, allowing them to enjoy the flexibility of agency work with the benefits and security of standard employment. An umbrella company is responsible for deducting and paying all of the relevant Income Tax & NIC to HMRC, as well as any Pension Contributions and Holiday Pay.

Using an Umbrella Company allows you to gain access to employment benefits such as Maternity/Paternity Pay and Statutory Sick Pay. The umbrella employer is responsible for calculating and paying all salary related deductions, removing the admin hassles of being self-employed The flexibly to work for multiple clients may mean it is easier to secure roles more easily as there’s no IR35 risk to your end-clients.

You are reliant on others within the supply chain to be paid on time, with other umbrella companies you may experience a delay in your payment. With Vivid Pay, we processes your pay the same day that we receive your funds. You may have less ‘control’ of your finances because you will receive your net salary after Income Tax and NIC deductions have been made, some see this as a disadvantage. However, these payments will need to be made at some point and many contractors prefer to know it’s already taken care of.

Simply reach out to the team at Vivid via call, email or live chat to get a no-obligation illustration. Our team will guide you through the next steps if and when you want to proceed.