SPRINGBOARD UMBRELLA SOLUTION

How Does it Work?

  • Instead of being an employee of a large umbrella services provider you will be set up with your own company.
  • Your contract income will be accounted for as inside IR35 which means you will pay PAYE and NI but be able to take advantage of the expense allowance and any schedule E expenses you have (the same as a standard umbrella).
  • You only need invoice and update your expenses on your personal online software. 
  • We will calculate what you can pay yourself and what you need to set aside for tax. 
  • Then all you need do is transfer your net pay to yourself - no relying on your service provider to do it for you.

Advantages of the Springboard Umbrella 

  • Earn more than a standard Umbrella
  • IR35 does not apply
  • Choose the level of service you require so you pay less fees and earn more.
  • Gives you time and expertise to review your IR35 status to ensure you are earning the maximum you possibly can.
  • Save money if your contract is outside IR35
  • Easy to switch to a high earning limited company if you get a contract outside IR35.
  • Don’t rely on third parties to pay you reducing the risk of your service provider going under and not paying your money. See article on why this could be a real concern.
  • You earn interest and take advantage of cash flow rather than your standard umbrella service provider.
  • Not exposed to HMRC as standard umbrella companies currently are. Read more

IR35 and the Springboard Umbrella 

If you start out on the spring board umbrella we can help you review your status with thorough, independent, professional advice. If you are outside IR35 you can then immediately switch to a limited company outside IR35 and you have not lost any income on tax that you would have paid if you use a standard umbrella.
If you are caught by IR35, no problem, you will still earn more with our springboard umbrella than with a standard umbrella and you have the option to switch to a high earning limited company when you have a contract that is outside IR35. (You won’t be able to do this with a standard umbrella).

We ensure that advice on IR35 is thorough, professional and independent.  Read More