An Umbrella Company inside out


(Dom Barnes) #21

I know I did mine through Danbro’s online portal. Can’t remember what it was like. Thinking about it now, and looking at your screenshot, I’d try to reduce hassle as much as possible. Don’t just put a standard date picker in there. If you’re doing it weekly, then a nice week to view picker would save effort. Why not pre-fill a set of M-Sun days so you just set the Monday date, then a bunch of start and end times?
We would do a week at a time and submit that. Same with expenses. Batch them up rather than one at a time. I suspect most people approving won’t check in any great detail. Showing totals for a batch (i.e. week) makes it easier. If you see a total of 60hrs or a total of 4hrs you’re likely to want to go and check that, if you see 35-40hrs, you’ll probably just approve immediately.

Same for chargeable expenses. Batch them up so it can all go as one approval request.


(Daveyon Mayne) #22

Yup. A section has the timesheet and other shows your take home pay with all taxes etc.

Im using Semantic Cal so can easily pre-fill.


(Marc Cooper) #23

@SylarRuby I was chatting to some accounts folk today, and it occurred to me that your business idea might fall within the scope of the UK money laundering regulations. Something else to think about :frowning:

https://www.gov.uk/guidance/money-laundering-regulations-your-responsibilities

Aside: I tried to get to the bottom of the obligations of companies compelled to keep proof of id and address documents (for five years, I believe). There don’t seem to be any statutory obligations on them aside from those in the data protection act.

The first such company to get hacked is going to provide a trove of almost unstoppable identity theft.

Opinion: Madness that a government should risk the financial ruin of its citizens for money laundering theatre. But here we are.


Ottitia - Drop and Rename?
(Daveyon Mayne) #24

Well it’s not a business, just an idea I’m playing with. All in all, the aim is to make it an umbrella company after I know the inside out of one and what it requires from me, the company, and from the users (contractors). The link that you gave is very useful for when I need to take that step further.

So why I want to go that route? By day I use all of my skills to earn a living: electrician (part p and 17th edition), computer technician and data cabling engineer so need to see my take home pay and having a system that does my taxes/ni with just a click of a button is awesome. Some days/week there’s no work so that would help with taxes/ni calculations.

If I decided to make it a global thing, I’ll first contact an accountant etc.