How it works
The global umbrella market is expected to approach US$ 9.2 billion by 2030, with an annual growth rate of 2% (Source: Rational Stat), indicating a steady demand for compliant and efficient financial management solutions in this sector.
Umbrella companies often manage complex financial structures, ensuring compliance with ever-changing regulations. Without efficient solutions, navigating such dynamics can lead to increased risk and operational inefficiencies, hindering overall performance. By effectively addressing these situations, umbrella companies can streamline operations, reduce administrative burdens, and focus on driving growth and profitability.
How IMS Decimal supports umbrella companies
With our keen expertise in outsourcing services, we help umbrella companies to achieve greater operational efficiency, and focus on their core competencies, while we handle the intricacies of financial management.
Services for Umbrella Companies
- Daily transaction recording
- Daily transaction recording
- Bank and credit card reconciliations
- Contractor payment reconciliation
- Expense verification and recording
- Accounts payable & receivable management
Business Tax Return:
- Corporation Tax computation support
- Preparation of working papers for CT600
- Tax adjustment schedules
- Liaising with UK accountants for submission
- Supporting documentation preparation
Self-Assessment Tax:
- Director’s self-assessment preparation
- Dividend tax calculations
- Income & expense compilation
- HMRC working paper preparation
VAT Returns:
- VAT calculation and reconciliation
- Preparation of VAT return workings & submission
- Weekly/monthly contractor payroll processing
- PAYE calculations (Tax & National Insurance)
- Apprenticeship Levy calculations
- Statutory payments (SSP, SMP, SPP)
- Auto-enrolment pension processing
- Pension submissions to providers (e.g., NEST)
- RTI submission support
- Payslip generation and distribution
- P45, P60 preparation
- Holiday pay calculations (accrued/advanced models)
- Contractor margin reconciliation
Year-End Accounts:
- Preparation of draft financial statements
- Profit & Loss and Balance Sheet preparation
- Accruals & prepayments adjustments
- Fixed asset register maintenance
- Year-end reconciliation schedules
- Audit support documentation
Management Accounts:
- Monthly MIS reporting
- Contractor margin analysis
- Cash flow statements
- Budget vs actual reporting
- KPI dashboards
- Cost centre reporting
- Forecasting support
- Contractor onboarding back-office support
- Right-to-work documentation review support
- Compliance checklist support
- CRM & payroll software data entry
- Process documentation & SOP creation
- Email & query management support
Why IMS Decimal?
Robust Processes
Quick Turnaround Time
Scalability
Cost Efficiency
Software deck
