Making the leap from permanent employment to contracting can bring a multitude of benefits, including excellent earning potential and the flexibility required to maintain a healthy work-life balance. However, there’s still a lot to consider, and some can be put off for reasons that can be easily solved.
In this blog post, we take a look at the top three worries that shouldn’t factor into the decision-making process and how working with an umbrella company can help to put your mind at ease.
Getting paid on-time and cash flow issues are common complaints from those who go blindly into contracting. Delays in sending invoices, ensuring payments are received into the correct bank account, and dealing with different departments in a client’s organisation can all result in delayed payments, which could spell disaster for a contractor’s cash flow.
Working through an umbrella company like Mango Pay can be the ideal option for shorter-term contractors. Not only will an umbrella deal with all of your tax responsibilities, but we will handle all paperwork, chase payments and even client negotiations, ensuring you get paid on-time, every time.
Working outdoors, in public, at special facilities or using your own equipment all carry a range of different insurance requirements. Not knowing exactly what kind of insurance coverage you need as a contractor can lead to not only being insufficiently covered but might mean you miss out on certain contracts.
Working with a reputable umbrella company like Mango Pay means contractors are instantly covered by comprehensive insurance so you will be fully compliant for any job you undertake.
Managing paper-based timesheets, expense forms and invoicing can be a daunting prospect for contractors who would rather spend their time doing what they do best. Even now, many contractors still use paper-based systems to complete their bookkeeping.
Through our umbrella solution, Mango Pay provides easy-to-use online forms for contractors to submit their timesheets, expenses, Right to Work (RTW) documents and holiday pay requests. Additionally, we will email your pay slips as soon as they’re ready, ensuring you have all of the essential digital documents you need without having to drown in paper.
Mango Pay’s umbrella solution was designed to take the hassle out of contracting to ensure your contracting journey is a fruitful one. Find out more about it today and stay tuned to the Mango Pay blog for news, advice and guidance for today’s UK contractors.