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101 Umbrella Ownership Scheme

101 Umbrella Ownership Scheme
Business type:
Payroll
Tel:
0871 288 2108
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About our IOR Partnership:

Recruitment agencies can join the 101 Umbrella Ownership Scheme and own their own Umbrella with their contractors, supported by the Institute of Recruiters (IOR), a UK leading recruitment body.  The IORs umbrella audit programme ensures all contracts and expenses calculations and done correctly via leading British law firms who partner with the IOR.

Offer Details:

Own your own payroll company and unlock more profits & potential from your assets.

Many recruitment companies have hidden assets they have not realised, as contractors can offer an additional revenue stream to a recruitment agency. If you have over 200 or more contractors then you have the key ingredient to unlocking a whole new income channel in payroll in partnership with the 101 Umbrella Ownership Scheme.

Professionally run payroll companies generate excellent profits.  Your existing contractor base could allow you to part own a sizeable and profitable umbrella company without the downside of running or managing it.

Recruitment agencies can join the 101 Umbrella Ownership Scheme and own their own Umbrella with their contractors, supported by the Institute of Recruiters (IOR), a UK leading recruitment body.  The IORs umbrella audit programme ensures all contracts and expenses calculations and done correctly via leading British law firms who partner with the IOR.
 
The Law

A Consultation Paper was issued on the 8th July in respect of restricting T&S expense claims for Umbrella workers and PSC Directors that do not meet the new "supervision, direction and control" definition as in the "On-Shore Intermediaries" legislation. Although it is described as a "consultation", it is clear that the decision to eliminate T&S has already been made. From an Agency perspective, it seems fairly clear that there will be some form of debt transfer in place (for both Umbrella and PSC). There are 2 options set out in respect of debt transfer but it is likely that "Option 2" (transfer of debt to the first intermediary) will be the one implemented because this is the principle which has already been used in the On/Offshore Intermediaries legislation.

How does it work?

101 Umbrella Ownership Scheme will create and operate a new payroll company in which your agency will own a 40% shareholding. The Scheme will operate the company and pay out quarterly profit dividends and issue you with annual accounts.

No operational involvement

In receiving a 40% stake in your new payroll company you will (then) not be required to undertake any operational activities at all . That is all taken care of by the 101 Umbrella Ownership Scheme.

You are in safe hands

Your new payroll company is both initially and annually audited for safe & compliant practice by the Institute of Recruiters audit programme. This ensures all practices are compliant with UK tax law at all times.

No Downside

Why not talk to us and learn how you can unlock a whole new revenue stream and realise the value of your contractors.
Don’t give away your financial assets, partner with the 101 Umbrella Ownership Scheme now.

Company Bio:

101 Umbrella Ownership Scheme

Many recruitment companies have hidden assets they have not realised, as contractors can offer an additional revenue stream to a recruitment agency. If you have over 200 or more contractors then you have the key ingredient to unlocking a whole new income channel in payroll in partnership with the 101 Umbrella Ownership Scheme.

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