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Is it time to start your own umbrella company?

Especially with the impending Private Sector / IR35 legislation taking effect in April 2020

The dilemma between outsourcing payroll to an umbrella company or going it alone is no longer an issue for employment agencies, thanks to Originem.

The innovative new product now enables agencies to very quickly and simply establish their own umbrella provider, and so retain more of their profit while gaining better control of their business, finances and cashflow.

Due to far-reaching changes to a complex tax law on “off-payroll working rules” (IR35), these rules hand the decision about whether certain freelancers should be considered self-employed to the company doing the hiring.

The reform will have serious consequences for hundreds of thousands of companies and contractors, with hirers facing potentially higher costs and some workers looking at significant cuts to their income, as well as an extra administrative burden to both.

The imminent implementation of Private Sector legislation and changes to IR35 in April 2020, along with upcoming changes to Directors Legislation, are just some of the reasons why recruitment agencies should be in more control of the employment status of their workforce.

OriginemCubed is a fully supported, White Label offering of Originem’s rock solid and established umbrella employment business – all boxed up and ready to go. This in the words of a recent customer is: “Will give us an edge over our competitors and generate substantial cash flow benefits whilst also generating additional revenue and more control.”

OriginemCubed can also help agencies to restructure and include their own umbrella provider within their business to reduce VAT payments.

Phil Whelan, MD of Originem said: “We can offer huge benefits in terms of cash flow and increased earnings from the workforce. OriginemCubed also maximises working capital and eliminates the need for invoice discounting, resulting in further increased margins.”

“Previously starting a privately owned, small scale umbrella company was neither simple nor economical. But this is now different with our ‘off the shelf’ product. From the agency’s perspective, they benefit from all our experience with a ready-to-go product that has the full back-up of our experienced and dedicated team.

“We can have a new, own branded product up and running for an agency with a dedicated website within the month. No new premises will be required and the agency will see immediate improvements to their bottom line.”

“We offer a free and confidential payroll analysis to demonstrate the advantages to be gained. And the best thing is: the larger the workforce, the more the agency will earn!”

Call Originem: 0161 713 1730