Registration
Contractors start by registering with a PAYE umbrella company, which typically involves completing an online form and submitting required identification and employment details. TAS Consulting’s PAYE umbrella company consultation ensures a seamless registration process tailored to your needs.
Employment Contract
Once registered, the contractor becomes an employee of the umbrella company and receives a formal contract of employment. This document outlines:
- Pay Rates
- Holiday Entitlements
- Employee Benefits
Through the PAYE umbrella scheme, contractors can enjoy the security and benefits of traditional employment while retaining the flexibility of contracting.
Client Engagements
Contractors continue working with their clients or agencies as usual. However, instead of handling invoices directly, the PAYE umbrella limited company manages this process, ensuring accurate and timely billing on the contractor’s behalf.
Payment and Deductions
Clients pay the PAYE umbrella service for the contractor’s work. The umbrella company then processes these payments, making the following deductions:
- Income Tax (PAYE)
- National Insurance Contributions
- PRSI and USC
After deductions, the umbrella pay is disbursed to the contractor as net pay. This streamlined process eliminates the administrative burden on contractors while ensuring full compliance with Irish tax laws.
Payslips and Benefits
Contractors receive regular payslips that clearly outline:
- Gross Pay
- Deductions (PAYE, PRSI, USC, etc.)
- Net Pay
Moreover, as employees of the best PAYE umbrella company, contractors are eligible for:
Other Employee Benefits
Paid Holidays
Statutory Sick Pay
