How does a umbrella company work?
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What else can I expect with My Max?

An umbrella company is an organisation that employs professional contractors who carry out short-term assignments for recruitment agencies and / or end clients. The umbrella company makes your Pay As You Earn (PAYE) and National Insurance deductions for you, and allows you to offset allowable expenses like travel, meals and accommodation against tax - meaning you can increase your take-home pay.
An umbrella service not only gives you legal employee status and handles all the paperwork, but also lets you take home as much pay as possible. It's the simplest solution for most contractors, with no unexpected tax bills and a very straightforward process for claiming expenses. And because you're employed you will still have access to state benefits such as a state pension and maternity pay.
Use the calculator to help you work out how much you could take home every week with My Max. It really is that simple.

If you'd like to find out more, call us now on 0800 197 6516 (option 1). Or you can complete the form below and we'll be in touch with more details.

Umbrella Company

What is an umbrella company?

Why use an umbrella service?

Is it the right option for me?

An umbrella service could well be the best option if you:
  • are contracting for a short period of time
  • want a quick and easy payroll service
  • want the ability to claim allowable business expenses, but without having to set up a limited company.

How can PayStream help?

  • 10 minute online sign up process
  • Dedicated account managers
  • Inclusive insurance: £10m employers liability, £5m public liability and £5m professional indemnity. Personal accident cover is also available as part of PayStream rewards
  • Same-day payments

How much will I take home with My Max?

What do I do next?

What our clients think
Having used umbrella companies in the past and not having had the best experience, I wanted to say how pleased I am with the service I receive from PayStream. All the customer services agents I have spoken to are polite, friendly and most importantly helpful and able to answer my questions quickly and resolve any issues in a timely manner.
- A. Nicholson, ICT support officer
I have been delighted with the service from PayStream and would certainly recommend your. Thank you very much for everything.
- P. Bolton, Science Technician
5/5 Really helpful always explaining stuff in English which is nice for people who don't understand pay. It's really nice. You can call up any time and get the answers your looking for which is lovely.
- E. Razzell, Contractor
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Have you been referred to us by an agency?

We've developed My Max to help maximise your take-home pay, with minimum fuss. And because we're always up to speed with the latest HMRC guidelines on claiming expenses, we make sure you get paid as much as possible whilst staying on the right side of legislation.

How much will I take home?

Launch our take-home pay calculator

Umbrella Company

If you're a contractor or freelancer, one of your most unpleasant tasks may be keeping
track of the administrative aspects of your business. Completing tax forms, chasing
payments from clients and filing expense claims can be time-consuming activities that
distract you from your actual work or - even worse - eat into your leisure time. The solution
to these problems is simple - use an umbrella company such as PayStream - we'll take
care of everything for you and what’s more, you won't need to worry about IR35.

At PayStream, we offer a number of services to help lift the burden of administrative tasks
and we are committed to providing you with the highest level of customer care, letting you get on with your other responsibilities.

Our umbrella company services are the perfect option for contractors and freelancers who don't want to deal with accountancy requirements. Not only do we take away the stress and liability of calculating and submitting PAYE-based tax and National Insurance contributions, but our services are also reasonably priced and can include a variety of other benefits.

What is an umbrella company?

In the UK, an umbrella company directly employs contractors and freelancers who wish to work inside the IR35 regulations. Generally, an umbrella company's services are accountancy-based - such as managing timesheets, calculating PAYE tax and NI contributions, invoicing the client and paying the contractor.

Other services provided by an umbrella company may also include HR support, and insurance cover.

Overall, an umbrella company makes it easy for contractors and freelancers to do their jobs without having to navigate the confusing and stressful maze of tax paperwork and administration. Ideal for new contractors who don"t know where to start, PayStream's umbrella company services are also extremely useful for those who have been contracting for many years.

How does an umbrella company work?

An umbrella company will treat you in a similar manner to an employee in a more traditional business environment. You will receive a contract of employment and we will take care of all the administrative paperwork.

Once registered, you will submit timesheets to the umbrella company, as well as any other expenses that you need to claim. The umbrella company will then invoice your client and pay the money direct to your bank account, with your PAYE tax and NI contributions calculated and paid.

Umbrella company services from PayStream help take some of the stress and hassle out of being a contractor. You won't need to worry about keeping compliant with tax legislation, meaning you can get on with your work. You will also receive comprehensive insurance, including £2m professional indemnity.

Get umbrella company services from PayStream

PayStream's umbrella company service is reliable and efficient, helping to ensure that you receive the provisions most appropriate to your requirements.

My Max is an umbrella company service that helps ensure you receive the best possible net pay and gives you the opportunity to claim allowable business expenses.

When you contact PayStream, a member of our New Business Team will review your circumstances and provide guidance about if an umbrella company service best suits your needs. We take pride in our excellent customer care and our highly skilled accountants will be sure to give you peace of mind while helping you optimise your earnings.

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