What are the benefits of a Personal Service Umbrella Company?
FPS Group is uniquely able to offer an enhanced umbrella company solution at no additional cost. A Personal Service Umbrella company has all of the benefits of a basic umbrella company but with improved protection for you the contractor.
Basic umbrella companies employ all of their contractors through a single limited company.
Multiple agencies and end clients are making payments to the one umbrella company. All of these funds are lumped together and become the property of the umbrella company (typically owned by the umbrella company provider) in the period before paying you the contractor.
If the umbrella company provider experiences any financial difficulty, then your income is at risk regardless of whether your agency or end client has made payment.
With a Personal Service Umbrella Company (PSU) you are the ONLY employee and owner of that company. This means that your income remains protected and cannot be affected by the claims of other contractors, agencies or in the unlikely event of default by FPS Group. Unlike running your own limited company, however, FPS Group will take care of all of the administration and directorship responsibilities of your PSU.To us, you’re an individual with unique requirements and needs, so why get lumped in with hundreds, if not thousands of others into a large company? We don’t think that makes sense...
Personal Service Umbrella – Umbrella personalised.
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