TIPS ON HOW TO CHOOSE A RELIABLE UMBRELLA SUPPLIER
A good quality umbrella is always comfortable to use and should truly serve the purpose for which it is made. At a point in time, an umbrella having a number of panels is considered to be of good quality, But with the improvement in the quality of fabrics and other materials, it no longer stands as a criterion for a good quality umbrella. When buying an umbrella one should look for the comfort of the handle, the ease with which the umbrella is opened and closed, and the closeness with which the canopy segments are connected to the ribs.
But what exactly are you looking at when choosing a reputable supplier, there are facts you must know which are
- Check to see whether the umbrella supplier has the right trading solution for you.
What payment structure do they use? Make sure that when you are choosing between these options you choose a trading solution that best fits your needs. Explain your situation to the umbrella supplier and an accountant for an advice on which option suits you best.
- Dig deep into the umbrella suppliers background
Make sure you check up on the suppliers background, including its credit rating and how long it has been trading. Ask if it would move your money offshore at any stage; if so, it might not be a true PAYE supplier company and could actually be providing an offshore tax solution.
- Make sure you get the complete pictures on fees
Not all supplier companies are transparent about their fee structures, so find out exactly how much you will be paying each week or month. Before joining a supplier umbrella scheme check, if the fees are fully inclusive or if you have to pay for extras, such as expense processing, completing tax forms and processing expenses. If it’s a free service, ask the supplier how and why it can do this.
- Find out the process for claiming expenses
Umbrella suppliers make exaggerated claims about how much tax you could save by claiming contracting expenses without receipts warrant deeper investigation. If a supplier runs non-compliant expenses, what else may be non-compliant? A dispensation from HMRC might be claimed by the umbrella company, but this is fairly meaningless what it means is that the firm does not have to complete a P11D form for every contractor.
- Determine what help and support is available
Make sure you ensure that you will enjoy a long and prosperous relationship with your clients. But it is when something goes wrong that you need help and support from your supplier company.
- Download a suppliers Calculator’s umbrella company checklist
Before choosing a supplier, be sure to download a supplier Calculator’s umbrella checklist, so that you can ensure you are choosing the best supplier company for your personal circumstances.