Umbrella Companies
Working under an Umbrella company - an alternative payroll solution.
An Umbrella company acts as an employer for contractors working in the temporary market. Working under an Umbrella company can remove some of the challenges contractors encounter in terms of managing their finances and taxes. This makes it a sound option for those starting out in contracting and those planning to work on short-term assignments.
The principle function of an Umbrella Company is to collect earnings from Morgan McKinley and deduct tax and National Insurance contributions before paying contractors their wages.
In recent years the market for Umbrella companies has changed dramatically, this has mainly been due to numerous companies acting unlawfully and not meeting requirements relating to the use of onshore intermediaries. This has led to an increased focus on compliance, which as a result has led Morgan McKinley to only engage with a select number of Umbrella companies, which are both FCSA and APSCo approved. See below for more information.
Please see the Umbrella Company Key Information Document which sets out your relationship with Morgan McKinley when you engage via an Umbrella Company. This document can be used in order to help you make an informed decision before commencing an assignment.
The Morgan McKinley process for Umbrella Contractors
Once an individual has been successful with a new placement, our dedicated Contractor Experience Team will support them through the onboarding process. They will receive an onboarding pack via email to explain the timesheet and contract process. They will also be introduced to Gateway, Morgan McKinley’s online contracting portal, which provides secure access to contractor’s personal assignment information.
Timesheets and Payroll
Morgan McKinley operates a weekly payroll and the deadline for timesheet submission and approval is every Monday before the close of business for the previous week. Payment is then made to the Umbrella company on Friday, a week in arrears.
Holiday Pay
An Umbrella company contractor may be entitled to holiday pay via their Umbrella company provider. This should be discussed this with the chosen provider at point of sign up.
Morgan McKinley’s trusted approved Umbrella company provider list
It is imperative that recruitment agencies work with companies that are financially robust and have adapted to be in accordance with all recent legislative and regulatory changes and requirements. As a result, Morgan McKinley only engages with a trusted approved supplier list of pre-approved Umbrella companies. Regretfully Morgan McKinley does not engage with any Umbrella providers outside of our approved list and will not be able to offer any additional contracts. Our approved Umbrella providers have industry accreditations with the FCSA and are audited annually by external bodies reducing the likelihood of compliance issues, including those around the Criminal Finances Act.
Click on the logos to visit the websites of our approved Umbrella Companies:
Brookson One
0800 230 0213
www.brooksonone.co.uk/working-options/
Giant Professional Limited
03300240946
Morgan McKinley contractors via Giant will receive the first 4 weeks free of margin (based on the assignment being 4+ weeks long)
https://info.giantgroup.com/dkqpslrn19
ICS Umbrella Ltd
0800 195 3750
Workwell
Morgan McKinley contractors via workwellsolutions.com will receive the first 2 weeks free of margin
01923 257 257
NASA Umbrella Limited
0117 929 7683
Parasol Ltd
0800 583 6000
PayStream My Max Limited
0161 516 5376 (option 1)
SmartWork.com Ltd
0800 434 6446
Umbrella.co.uk
dexter@umbrella.co.uk / harry.martin@umbrella.co.uk
01625 544 460
Morgan McKinley contractors via Umbrella.co.uk will receive the first 2 weeks free of margin
www.umbrella.co.uk/morgan-mckinley-0
Please note Morgan McKinley are not tax specialists and contractors are responsible for their own tax matters. Morgan McKinley are not offering financial advice in these matters or recommending any 3rd party suppliers.
