How to use an Umbrella Calculator in 4 Easy Steps

Use an Umbrella Calculator to find the best Umbrella Company in 2021

Umbrella calculators allow contractors to quickly compare thousands of umbrella companies, giving them a clear oversight of what they will receive from each, including their take home pay, the range of benefits they will receive, what services they will get from the company and how much they will pay in fees in return.

To find out more about how to use an umbrella calculator, Umbrella Supermarket have put together this handy guide to help you make the right decision in 2021.

What are the benefits of using an umbrella calculator?

There are many benefits to using an umbrella calculator, with perhaps the main one being that it takes the stress, hassle and hard-work out of finding and choosing the best umbrella company.

Unlike searching the web manually which can take hours of your precious time, an umbrella calculator lets contractors put in their details and generates a list of the best umbrella companies in just 2 minutes.

Not only is an umbrella calculator quick and easy to use, it also lets contractors compare umbrella companies based on their contractor preferences. After all, every contractor is different, which is why it’s so important to compare umbrella companies based on what benefits and services they offer. An umbrella calculator again makes this super simple to do, letting you put in your preferences and showing you companies best geared towards these.

An umbrella company also allows contractors to compare companies based on their fees. After all, we all know that umbrella costs is an important factor. The fee you pay will be taken from your take home pay, so it can have a big impact on your income. Thankfully, an umbrella calculator makes it quick and easy to compare umbrella companies based on their fees in one handy place, so you know exactly what you’re paying.

At Umbrella Supermarket, we will even let you save your results which you can revisit at any time, so there’s no need to rush into a making a decision. We also let you edit your information to see how this impacts your results, so you can be sure you’re making the right choice.

Finally, another benefit of an umbrella calculator is that it shows you what your take home pay will be under each umbrella company – we will even show you what your payslip will look like.

How to use an umbrella company

Those are the main benefits of using an umbrella company, so how do you use one?

With Umbrella Supermarket’s umbrella calculator, contractors can simply enter a few key details about themselves, such as their name, contractor rate and preferences, and our fully automated umbrella calculator will show you a list of umbrella companies best suited to you.

Here’s how:

  1. Enter your contractor preferences

We know that every contractor is different and has a different set of requirements. Whether you are looking for help with childcare credits, same-day payments or extra levels of insurance, every contractor is different and therefore needs the best umbrella company to suit their needs.

Start by entering your basic information and contractor preferences to ensure you will be shown a list of the best companies for you.

  1. Compare umbrella companies based on service-level and benefits

Once you’ve input your information and preferences, you will be shown an easy to read list of the most suited companies. Now it’s time to compare these companies to find the best one.

Using our umbrella calculator, you can see what level of service and range of benefits you will receive with each, so you can find the one best suited to your needs.

  1. Compare umbrella company fees

Next, you should compare umbrella companies based on the fees they charge. After all, you want to ensure you are getting a fair deal.

Umbrella Supermarket’s umbrella calculator makes it easy to compare umbrella company fees, showing how much each company charges and what services they offer in exchange for this fee, so you can find the best deal.

For more help on umbrella company fees, check out our handy guide.

  1. Compare what your take-home pay will be

Contractors are hardworking individuals, so it’s only natural that you want to know how much money you will take home at the end of the day, week or month.

Once you have input your details into our umbrella calculator, we make it easy to compare what your take home pay will be under each umbrella company. We will show you what your payslip will look like, including how much National Insurance and tax you will pay, plus any other additional payments that will impact your pay such as pension contributions.

Ready to see how our umbrella calculator can help you?

If you have decided that 2021 is the right time for you to make the move to contracting under an umbrella company, it’s important you find the best company to work with. After all, there are thousands of umbrella companies out there all competing for your attention, so it’s crucial that you can cut through the noise and find the best fit for you and your contracting needs.

That’s where Umbrella Supermarket’s umbrella calculator comes in to help. Whether you are completely new to contracting or are considering moving from a limited company to an umbrella company, we make it quick and easy to compare umbrella companies to find the best results for you. Compare take home pay, umbrella fees, service level and benefits to ensure you are making the best move.

Whatever you’re looking for, whether it is more money, IR35 compliance or other benefits, we will help you find you perfect match in just 2 minutes. Ready to see what we can do for you today?

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Using an Umbrella Calculator

The Pros of Using an Umbrella Calculator

There are many advantages to using an umbrella calculator for contractors.

Umbrella calculators allow you to quickly compare thousands of umbrella companies across the UK, offering a clear overview of what you will receive from the company, including everything from your take-home pay, what benefits you will receive, and what services the company will offer.

To help contractors find out more, Umbrella Supermarket outlines the main benefits to using an umbrella calculator in 2021.

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Umbrella vs Limited Company: What to know when making the move this new tax year

The 6th April 2021 marked significant changes to IR35 legislation which impacted thousands of self-employed, limited company contractors operating within the private sector.

In light of the changes that have now rolled out, many limited company contractors are understandably considering their options and thinking about making the move to umbrella this new tax year.

To help make the decision that little bit easier, in this guide Umbrella Supermarket outline what contractors need to know about making the move from limited company to umbrella in 2021, to help you get on the right track.


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Umbrella Company vs PAYE: What should you choose?

Umbrella company vs PAYE is a question asked by thousands of contractors.

After all, it’s a big decision to make that will have a direct impact on your contracting career and day-to-day life, so it’s not one that should be taken lightly.

To help every contractor make the right decision for them, Umbrella Supermarket has put together this insightful guide outlining the key differences between umbrella and PAYE and the advantages and drawbacks of each.

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How can I avoid IR35?

As a contractor, you will most likely know about IR35 and upcoming reforms from April 2021.

These changes to IR35 legislation are set to badly impact many self-employed contractors in the private sector, so thousands are understandably worried. After all, getting caught out by IR35 can mean you end up paying more in tax than you need at the same level as an employee, without receiving the benefits of being employed, such as statutory rights.

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Umbrella Company Fees: How Much Should You Pay?

When deciding which umbrella company to work with, the fees they charge will inevitably play an important role in the decision-making process.

Umbrella company fees are taken directly out of the contractor’s income, so it is only natural that contractors want to ensure they are getting a fair deal.

To help contractors understand umbrella company fees, from how they are charged, what they will receive in return, and how much they should be paying, Umbrella Supermarket outlines everything there is to know about umbrella fees in this handy guide.

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Pros and Cons of Limited vs. Umbrella

Big reforms to IR35 legislation are set to come into motion from 6th April 2021 which will impact the thousands of self-employed, private-sector contractors out there.

For this reason, many of the contractors that currently operate through a limited company will be considering the umbrella company route as an alternative.

If this is true for you, it’s important to do your research to find out whether limited company vs umbrella is the best option for you in 2021.

To help make the decision that little bit easier, in this guide Umbrella Supermarket outline the key differences between limited vs umbrella, so you can get on the right track.

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What Does the 2021 Budget Mean for Contractors?

On 3rd March 2021 Chancellor Rishi Sunak unveiled his Budget in the House of Commons, outlining the government’s tax and spending plans for the year ahead.

Sunak announced a variety of measures he will put into place to help businesses and jobs that have suffered through the pandemic, as well as outlining a plan for the long-term recovery of the economy.

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5 Benefits to Working with an Umbrella Company

Contracting through an umbrella company has become an increasingly popular option for contractors across the UK in recent years. After all, it is a route that offers contractors a range of benefits over other paths such as working through PAYE or being self-employed.



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Contractor’s Guide to IR35 in 2021

From April 6th 2021, reforms to IR35 legislation will come into force, impacting the lives of thousands of self-employed contractors.

Inevitably, contractors across the UK are concerned about upcoming reforms and how these will affect them. To help, in this guide, Umbrella Supermarket look at what these changes to IR35 entail and how they might impact you as a contractor in 2021.


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How to Compare Umbrella Company Fees

If you are considering joining an umbrella company in 2021, or have been contracting through one for a while and want to ensure you are getting a good deal, it is important that you know how to compare umbrella company fees.

What you pay in income tax and National Insurance will be the same regardless of which umbrella company you choose, however the fees the umbrella company charges can make a big difference to your take home pay.

At Umbrella Supermarket, we know that every contractor wants to get a fair deal. To help, we explain how umbrella company fees work and how you can compare them to find the best deal.

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Job Retention Scheme for Contractors in 2021

The COVID-19 pandemic has impacted workers across the UK and contractors have been no exception.

Many of the 1.77 million independent contractors have either lost work altogether or have had contracts put temporarily on hold leaving them in a tricky position.

Fortunately, many of these contractors are eligible for the government’s Job Retention Scheme otherwise known as furlough, introduced to offer financial support for businesses and workers. This has been an essential source of income for many who have lost contract work as a result of the pandemic.

As we experience a third national lockdown, the furlough scheme has now been extended until the 30th April. So, if you find yourself out of contract work or have projects on hold, Umbrella Supermarket are here to explain what the Job Retention Scheme is, how it works and what this means for contractors.