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Opt the Right one

Selecting the right Umbrella business group is a minefield
for IT Contractors.

So how does an IT Contractor know how which umbrella company
will suit him or her?

Well, the first thing for an IT Contractor to do is to write
down what she or he wants from an Umbrella Company.

Risky or Safe?

Is it a risky Umbrella corporation but with high returns
that you want or an Umbrella Company with low returns but which will allow you
to sleep well in your bed at night?

Is it an Umbrella
Company where you do some of the paperwork or an Umbrella corporation who
does everything for you that you want but who charges more for that?

Once you have answered these two questions you are well on
your way to the Umbrella business that you want.

PAYE Company

For those who want to sleep well at night not worrying
whether the taxman will come after you in the future and who would rather
concentrate on IT contracting and let the Umbrella business attend to the
administration then a safe PAYE Umbrella Company would be just up your street.

However, if you are willing to take a bit of a chance with
the promise of up to 87% returns on your money earned, then there are a number
of offshore Umbrella Companies called EBTs which are basically Trust Funds set
up on your behalf in places like the Isle of Man.

How to choose

It's your choice as to which type of Umbrella Corporation
that you want and which particular Umbrella Company to choose from and it will
depend mainly on what type of person and IT Contractor that you see yourself
as.

?

As I said, there are Umbrella Companies and then there are
Umbrella Companies and there are Umbrella Companies. Which one is for you?

Article Tags:
Umbrella Company, Umbrella Business, Umbrella Companies