Have any accountants set up an umbrella company?

Have any accountants set up an umbrella company with the forthcoming changes approaching?

Didn't find your answer?

A client has approached me and asked whether we as a firm of accountants can set up an umbrella company?

Any advice would we welcomed, not something that we have considered before.

 

Replies (3)

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paddle steamer
By DJKL
22nd Feb 2021 10:24

Given it is near inevitable that there will be continuing tweaks to legislation by HMG re such structures, and structures created now may anyway have limited shelf life , the question one needs to ask is, why would you want to take ownership of any such structure in the first place?

If you still did want to set up I would have it at arms length from any practice you already operate and if your existing clients get funneled into it and things do not work out for them, do expect a fair number of client losses as you will be the responsible party and blamed if things do not pan out as you indicated they would.

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By Wanderer
22nd Feb 2021 13:05

I'd completely avoid it and tell them it's not a service we offer.

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By jpf1101
30th Mar 2021 13:09

Just had a call from a client asking me to possibly do the same. Never been asked before...

He asked me

1) Can he and 3 other contractors form their own Umbrella Company (LLP or Company) and you ( me) run the payroll/finance side?

2) Accountant(me) forms Limited Company and employs them etc.

If I was to help them I would naturally prefer option 1. Are they allowed to do so? The paranoid part of me thinks there has to be a "third party" in between the main client and the contractors on the payroll.

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