If handling your finances is your priority,
you’ve come to the right place
What is an Umbrella Company?
An umbrella company is a company that employs agency contractors who work on temporary contract assignments, usually through a recruitment agency in the United Kingdom.
They occupy an important niche in the contracting market and are the main alternative to setting up your own limited company.
The work process of an umbrella company is pretty straightforward.
Once a contract is agreed, you will be required to log your time using a timesheet, which will normally be countersigned by your client. This will be forwarded to the umbrella company (some will want the actual timesheet or you may be offered an online utility where you can upload the details) who will use it to invoice the client. Once the client has settled the invoice the umbrella company will forward the payment to you, less their fees, tax and NI due, along with a payslip with full details of how your pay has been calculated.
All umbrella companies use the same PAYE calculations to ascertain how much tax should be paid. The only difference between umbrella companies will be the margin that they retain and the schemes they run.
Here’s how it works…
1. Contract Signed
Your work with your recruitment agency to agree on a contract with an end client.
2. Register With Us
You register with our Employment Umbrella Company and become our ‘Employee’.
3. Log Your Hours
You carry out work for your end client and log your hours and expenses (if allowable) with us.
4. We Invoice Your Agency
We invoice your agency with details of the work or services you’ve carried out.
5. Agency Receives Funds
Your agency recives the funds from youur end client and forwards them to us.
6. Necessary Deductions
We make deductions for Income Tax, Employee’s NI and Employer’s NI and pay them to HMRC.
7. We Pay You
We deduct our margin to cover the administration of employment and any contribution e.g. pension/ holiday pay, & we pay you.
What We Do
Process your timesheets and expenses.
Take care of your PAYE and National Insurance obligations.
Ensure you are paid on time and correctly.
Make same day payments to your personal bank account.
Why choose us
Ritz Solution is a UK based Umbrella Company that primarily targets to develop strategies to help handle one’s employment based monetary exchanges. The strategies are designed to ensure that the parties involved in a contract are allowed conveniences, without compromising on their monetary benefits. With funds stored exclusively for certain purposes and finance management on both ends, Ritz solution makes sure to give the maximum benefits to its users.
With a team that is available at all times to solve the queries of their customers/ clients, what makes Ritz a unique place is the ace services, exclusive benefits and its ever approachable team.
Working on temporary assignments can be confusing, joining Ritz Solution will help make it easier. You can expect the best support from our expert team, alongside an excellent package for an easier contracting experience.
Getting set up with us is quick and simple. All we need is an email address then everything can be done online, and you don’t have to print anything out. Don’t worry if you haven’t got an email address as we can post out anything you need if that’s easier.
To reward our employees Ritz Solution has put together an industry-leading package, including great rates, provision of allowable expenses, flexible holiday arrangements, competitive Pension Scheme.
One continuous employment for all of your assignments
Statutory employment rights such as sick pay, holiday pay and maternity/paternity pay
Simple-to-use online portal
Guaranteed pay for the work you carry out on our behalf
Communication via SMS to let you know when your payment is on its way
Your own dedicated Contractor Support Manager to help with any queries
Our helpful, experienced and enthusiastic team being just a phone call away
A workplace pension scheme you can choose to pay into
Expert advice with regards to mortgages and financial planning
No Joining or Exit fees
Full employment benefits (SSP, SMP/SPP and Holiday Pay)
Same day faster payments as standard
SMS notification of payments
Pension schemes available
We're Here To Help!
Suite 24, Lavenham Business Centre, Parsons St., Oldham, Manchester, OL9 7AH.
M-F: 9am - 5pm
0161 620 7755
0161 302 9546