Working with an Umbrella Company
Cool Company simplifies the admin process of being a contractor in four simple steps. You complete your work for your client, your client pays us, we pay your taxes and then we pay you a salary.
What are the benefits of working with Cool Company?
If you are new to contracting, working with an umbrella company is the easiest way to get to work as a contractor.
- We take care of your financial admin.
- We act as an employer for contractors who work with recruitment agencies or multiple clients.
- You submit your time worked and our system will invoice your client.
- When we receive the payment for your client, we deduct all PAYE taxes and submit them to HMRC.
- All payments are made via same-day payment, meaning no delays on your pay.
Simple, straight forward pricing.
When selecting an umbrella company, your net pay and the margin charge are the primary concerns. Finding value with transparent pricing is essential.
Cool Company’s Umbrella solution has no hidden subscription or hidden fees. Our fixed pricing model fits your schedule:
- Fixed margin: You pay a fixed margin based on your pay schedule, £22.50/week or £80.00/month. The margin is deducted before tax once your agency or client has paid our invoice.
- No hidden costs: Full transparency. No sign-up fees, no exit fees, no additional insurance fees and no expensive processing fees.
How do I get started?
You start by creating an account with us. It’s super easy and only takes a few minutes.
When you have an account, it’s time to tell us about your assignments. We’ll send a copy of the assignment to your client. After this, you are ready to work!
When working with your client, make sure you register your timesheet in our platform with the amount of hours/days you work. We’ll invoice the client for the hours/ days you have worked.
We receive payment from your client, and then deduct tax and National Insurance before paying you through the PAYE system. We will send you a text to let you know your payment is on its way.
Within 24 hours of us receiving payment, you’ll receive your salary (with the deductions made). You will also receive a payslip with all the details.
Ready to take the first step?
Get started with contracting today by creating your account.