Umbrella Company – the easy way to get paid as a contractor
Are you a contractor working on assignments? Join Cool Company and benefit from our simple payroll solution!
As an umbrella company, we offer you an easy way to get paid as a contractor, so you have more time to focus on your work.
- Create your Employee Account
- Quick setup, ready to invoice in under 15 minutes
- Transparent pricing with a fixed margin per timesheet
How does an umbrella company work?
As your umbrella company, Cool Company will take care of all your payroll administration and client invoicing. With three simple steps you can get paid by your client compliantly and hassle-free:
Secure your own assignments.
As an employee of an umbrella company, you keep the freedom of choosing your clients. Just register your assignment in our portal.
Submit your timesheet.
Record and submit the time you have worked. We will convert this into an invoice to your client.
Get paid. We handle everything else.
As soon as your client pays the invoice, we deduct all taxes, national insurance, and pension. Then we pay you the rest as your net income.
Trusted by over 70,000 contractors and businesses
*) E.g. you raise a timesheet that stretch over one week or one month.
You only pay our fee when your sent invoice is paid.
Why choose Cool Company as your umbrella company?
- Easy timesheet recording, with everything in one place
- Same day payments on all payments to you
- Friendly personal support through phone, chat, and email
PAYE done right!
- All taxes and national insurance deductions made and reported to HMRC. Ensuring you’re compliant and free from risk – no self-assessment tax returns
- Comprehensive insurance cover including Public Liability, Professional Indemnity and Employers Liability
- Access to all employment rights including SSP, SMP/SPP and holiday pay
- No more IR35 worries – when using an umbrella company, you are outside the scope
Feedback from our users
Good Support & Service – If you want to work as consultant without setting up your own company, Cool Company is a very good choice.
Great service and very smooth payment system!
Umbrella company UK –
Some frequently asked questions
An umbrella company is a company that employs agency contractors who work on temporary contract assignments, usually through recruitment agencies. Agencies use umbrella companies to help contractors get paid compliantly. Read more about how an umbrella company works.
An umbrella company helps contractors who do not want to have their own company or deal with self-assessments. The umbrella company will be your employer and pay you via PAYE.
As an umbrella company, Cool Company helps you with all of this:
- Management of all reporting and submission to HMRC on your behalf
- Paying your salary onto your account, with taxes already paid
- Invoicing your client for the work you have completed
- Providing insurance cover for your assignments
- Transparent pricing fixed per timesheet
The Cool Company margin is £22.50 per week or £80.00 per month per timesheet processed. This includes our dedicated payroll support, insurance cover and personal support. Learn more about our Pricing & Plans here.
Once taxes and the Cool Company Margin have been deducted, you receive your payment, which is between 60-65% of your invoiced amount. With our calculator, you can easily check how much you will get paid.
You will receive your payment once your client has made the payment. All payments are made via same Faster Payment® and will usually be in your account within 24 hours.
By joining an umbrella company, contracting becomes as simple as a traditional job:
- We are your employer for the temporary assignments you undertake.
- We take care of all the administration for you.
- As your employer we submit all reports to HMRC on your behalf.
- We handle all tax and national insurance deductions.
- We provide insurance coverage on your assignments.
As a contractor employed by an umbrella company, you can concentrate fully on your assignments. You can let go of all the administration that comes with managing your own company. Here you can read more about the differences between self-employment and an umbrella company.
Need some guidance?
Not sure how to create an account, complete your profile, create an assignment, or raise a timesheet?
Sign up with us today!
Join the 70,000 + contractors using our service. With no obligation or subscription fees, you have nothing to lose. All taxes paid for you. Easy, simple, peace of mind.