Umbrella Company

[Tinkscandy]

How exactly does an Umbrella Company work?

Thanks

EDIT: Let me clarify my question…
I’m not asking about a company that sells umbrellas, I’m asking about a company that has various other companies under it.

[inle]

Depends on what you want to do with the umbrellas..
And depends on what you want your target customers to do with the umbrellas..

[peteyflow]

umbrella company?

[PsiPro]

Are we talking a company which incorporates your various ventures? Or a keep the rain off your head umbrella?

[ACMAir]

Umbrella Company

[peteyflow]

HAHAHHAHAAHAHH! ACM AIR... you made my day.. from my boring work

[inle]

hahahahaaaa..

thank you for enlightening me..
I am making a fool out of myself..
now I am laughing at myself..

[PayMatters]

In the UK the term Umbrella Company refers to a company contractors join so that they can be paid with all their tax taken care of i.e. they become an employee of the Umbrella Company.

The Umbrella Company takes care of invoicing the client, collecting the cash and then distributing it to the "contractor" after deducting PAYE and National Insurance.

Often companies won't use the services of a contractor unless they work through an Umbrella Company or they set-up their own limited company (which can be expensive and an administrative headache). The reason for this is if you pay someone without deducting tax that you should of then you could be held liable for their tax i.e. HMRC can say you were strictly employing that person and they should of been paid by you as an employee. By receiving an invoice from a 3rd party company this moves the onus onto someone else.

[terryxu]

Originally Posted by ACMAir

Umbrella Company

Hahahahahahaha, quite funny.

do you need some pictures of Umbrella? i ever contact a Umbrella company in guangzhou and got lots pictures from them.

[Tinkscandy]

I’m not sure if the term “Umbrella Company” is what I’m trying to do. Basically I would like to have several different businesses all under one main parent type company. For example – Limited Brands is the parent company of Victoria’s Secret, Bath & Body Works, The White Barn Candle Co. & more. But they appear to be in the same or similar field. What I’m Trying to do is have a variety of very different types of companies that are tied together under one corporation? Does anybody know the correct terminology for what I’m referring to as well as how to get started?

Thanks

[hazele]

I understand what your trying to say...here's a definition from the business dictionary.
HOLDING COMPANY
Definition
Type of business organization that allows a firm (called parent) and its directors to control or influence other firms (called subsidiaries). This arrangement makes venturing outside one's core industry possible and, under certain conditions, to benefit from tax consolidation, sharing of operating losses, and ease of divestiture. The legal definition of a holding company varies with the legal system. Some require holding of a majority (80 percent) or the entire (100 percent) voting shares of the subsidiary whereas other require as little as five percent.

[Tinkscandy]

Thanks hazele