Every Contractor’s Guide to Using an Umbrella Calculator

Step by step guide to using an umbrella calculator

How can contractors choose the best umbrella company to work with? It’s a question every umbrella contractor will ask. After all, it’s a crowded market out there. With lots of umbrella companies competing for your business, how can you cut through the noise to find the one that’s best suited to you?

It isn’t a decision to be taken lightly. When it comes to choosing the perfect provider, there are a lot of factors to take into consideration. From umbrella company fees, what services they offer, the benefits and perks available to what your take home pay will be under each company.

That’s why it’s so important that contractors do their research to cut through the clutter and find an umbrella company that best suits their needs.

Thankfully, it’s not as hard as it sounds.

Nowadays, there’s no need to spend hours of your precious time browsing the web searching for different umbrella companies that are well suited your needs and are within your budget. Instead, we’ve made quick and easy to compare umbrella companies with our award-winning umbrella calculator.

In today’s guide, we’ll share our step by step guide to how every contractor can use an umbrella calculator to find the best umbrella company for them. Ready to find your perfect match?

Enter your details in just 2 minutes

The first step is to head over to our umbrella calculator and input a couple of simple details. Unlike other umbrella calculators, we won’t take your details and say we’ll call you, we give you results straight away.

We simply ask for your:

  • Name
  • Mobile number (for verification)
  • Email address
  • Contractor day rate

Once entered, click Next Step and off you go.

 

Enter your contractor preferences and requirements 

At Umbrella Supermarket, we know that every contractor is different and needs different things from an umbrella company. That’s why we give you the opportunity to input your contractor requirements, to ensure we only show you a list of umbrella companies that are a great match for you.

Simply enter your preferences from our four options, whether you are after IR35 compliance, more money or service level.

Once you have entered these details, you can see your results and read more information on each option while also being able to request a more detailed illustration from the umbrella company of your choice.

Compare umbrella company fees

Now you have entered your details and contractor information, it’s now time to compare umbrella company fees.

In exchange for employing the contractor, offering them statutory rights such as sick pay, processing their tax payments through the PAYE system, taking care of invoicing, expenses and offering a further range of benefits and services, every umbrella company charges the contractor a fee.

However, umbrella company fees differ from company to company. It will generally depend on what level of service and benefits you require. Contractors that need extra levels of specific insurance as well as daily payments will inevitably pay more for the umbrella company’s services than a contractor utilising basic levels of umbrella company service.

It is also important to appreciate that the cheapest umbrella company is not actually always the most financially beneficial because sometimes a higher fee can bring you access to tax breaks and credits that far outweigh any cost incurred.

That’s why it’s important to compare umbrella company fees to ensure you are paying a fair fee. After all, no contractor wants to pay over the going rate.

With our umbrella calculator, we make it quick and easy to compare different umbrella companies’ fees at a glance, meaning you can make an informed decision.

View your payslip

Obviously, the umbrella company fees you will pay will impact your take home pay, but there are also other factors that impact your earnings.

As well as compulsory deductions that are taken from your take home pay, from income tax to National Insurance, other factors will also impact your pay, such as pension contributions.

With a myriad of factors to take into account, we know it can be confusing to work out what your income will be, which is why we offer a comprehensive breakdown of your pay in a handy payslip. What’s more, contractors can compare what their payslips will look like under different umbrella companies, to help you find the best deal.

Save and edit your details 

Having input your details and compared umbrella companies you can save your details to revisit at any point in time. After all, no contractor wants to rush into making a big decision.

As well as being able to head back to view your results at any time, we also allow contractors to edit and alter their details and preferences to see how it will change your results.

So, let’s say you want to see how your results will differ if you change how much you wish to contribute towards your pension, we make it easy to do so to help you find the best deal for you.

Ready to find the best umbrella company for you?

With our step by step guide, every contractor can find the perfect umbrella company for their needs, whatever their preferences and requirements, we make it quick and easy to compare companies so you can find the best one.

Umbrella Supermarket is not only searched more times every day than any other comparison website, we’ve helped thousands of contractors find their ideal umbrella company.

With our handy tool, contractors can directly compare umbrella companies side by side to find the one that best suits their needs. We work with reputable, trustworthy umbrella companies that have your best interests at the core of what they do, so you can rest assured you will receive the best deal.

So, whether you are looking for extra perks, IR35 compliance or more money, let Umbrella Supermarket’s award-winning contractor calculator help you find the best match in two simple steps. Ready to see what we can do for you today?

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