Definitions for umbrella company
um·brel·la com·pa·ny

WiktionaryRate this definition:0.0 / 0 votes

1. umbrella companynoun

   A company that acts as an employer to fixed-term contractors, usually through an employment agency.

WikipediaRate this definition:0.0 / 0 votes

1. Umbrella company

   An umbrella company is a company that acts as an employer to agency contractors who work under a fixed term contract assignment, usually through a recruitment employment agency in the United Kingdom. Recruitment agencies issue contracts to a limited company as the agency liability would be reduced. It issues invoices to the recruitment agency (or client) and, when payment of the invoice is made, will typically pay the contractor through PAYE with the added benefit of offsetting some of the income through claiming expenses such as travel, meals, and accommodation. Umbrella companies have become more prevalent in the UK since the British government introduced so-called "IR35" legislation that creates tests to determine employment status and ability to make use of small company tax reliefs. According to criteria set out by the UK Department for Business, Innovation & Skills, there are an estimated 4 million temporary workers in the UK, of whom 1.56 million are "classed as being in a management or senior official role, a professional occupation or an associate professional and technical occupation." It is estimated that 14% of the UK’s professional contractors are currently managing their business by working through an umbrella company.

WikidataRate this definition:3.0 / 1 vote

1. Umbrella company

   An umbrella company is a company that acts as an employer to agency contractors who work under a fixed term contract assignment, usually through a recruitment employment agency in the United Kingdom. Recruitment agencies issue contracts to a limited company as the agency liability would be reduced. It issues invoices to the recruitment agency and, when payment of the invoice is made, will typically pay the contractor through PAYE with the added benefit of offsetting some of the income through claiming expenses such as travel, meals, and accommodation. Umbrella companies have become more prevalent in the UK since the British government introduced so-called "IR35" legislation that creates tests to determine employment status and ability to make use of small company tax reliefs. According to criteria set out by the UK Department for Business, Innovation & Skills, there are an estimated 4 million temporary workers in the UK, of who 1.56 million are "classed as being in a management or senior official role, a professional occupation or an associate professional and technical occupation." It is estimated that 14% of the UK’s professional contractors are currently managing their business by working through an umbrella company.

How to pronounce umbrella company?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say umbrella company in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of umbrella company in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of umbrella company in Pythagorean Numerology is: 9

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Umbrella_Company
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Umbrella_Company
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=umbrella company