What is an Umbrella Company?

An Umbrella Company is an outsourced employment and payroll provider for workers on temporary or fixed term assignments.

When a contractor registers with a Recruitment Company, they will often be referred to an Umbrella Company to complete their registration.  This function is often outsourced to allow Recruiters to concentrate on sourcing assignments without the hassle of looking after employment and payroll and all the associated tasks and risks that come with it.  It also allows them to save costs and be competitive in their field.

The Umbrella Company will become the contractor’s employer and provide all their employment rights.

At New Red Planet, we offer a wide range of benefits to our employees including:

  • Professional Indemnity, Public Liability and Employer’s Liability insurance cover to protect contractors in the workplace
  • HR and legal support
  • Statutory benefits including Sick Pay, Maternity and Paternity Pay
  • Payroll flexibility
  • Dedicated portal to view payslips
  • Outstanding customer service
  • Paid for assignments with multiple agencies under one employer

New Red Planet may be an Umbrella company, but we offer a wide range of payroll options to suit both clients and contractors alike

  • PAYE Bureau – relax whilst we run your whole PAYE payroll under your PAYE reference number and present you with a payment file and reports at the end of the week
  • PAYE – traditional PAYE
  • PEO (Professional Employment Model) – all the benefits of PAYE while benefiting from being employed by NRP
  • Umbrella – standard Umbrella PAYE payroll
  • CIS – self employed with tax deducted at source

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