If you’re a contractor exploring your payroll options, you might be curious about the margin you pay to an umbrella company. In this guide, we’ll break down exactly what’s included in the umbrella company margin.
What is an Umbrella Company Margin?
The umbrella company margin is the fee deducted from each payslip you receive when working through an umbrella company. This fee covers the administration costs and procedures involved in processing your pay and managing your overall employment.
However, did you know that with Danbro Umbrella your margin covers so much more?
What does your Danbro Umbrella margin cover?
Firstly, your margin covers all the admin costs of processing your pay and ensuring it is accurate and on time. It also helps fund our excellent customer care team who provide high quality answers and advice, so you are never in the dark regarding your fees.
Danbro Rewards
Included as standard in your margin, you’ll receive instant discounts for over 120 brands with our exclusive ‘Danbro Rewards’. Enjoy discounts on your weekly shop, dining out, travel, days out and so much more! Discover how much you can save with Danbro Rewards by clicking here.
Workplace Pension
At Danbro Umbrella, all eligible contractors are automatically enrolled into a Workplace Private Pension, the Danbro Group SIPP.
This pension scheme helps you save for retirement while offering tax relief on your contributions, ensuring more of your money goes into your pension pot. You qualify for the Workplace Private Pension if you are aged between 22 and the State Pension age, earning at least £10,000 annually (£192 per week).
Professional Indemnity Insurance
This insurance protects you and us against any financial losses if the situation arose where there was any professional negligence, errors or if the appropriate advice/service wasn’t provided.
It covers up to £5,000,000 for legal fees and compensation payouts. It not only provides peace of mind while working on assignments but is also a crucial safeguard for contractors.
Employers Liability Insurance
It is a legal requirement for every business in the UK to have Employer’s Liability Insurance, it provides cover if you suffer an injury or become ill due to your work. This cover includes compensation, medical expenses, and any related legal costs. As a contractor, this insurance means you’re fully protected and can work with confidence.
Public Liability Insurance
Public Liability Insurance protects you from any claims made by members of the public for injuries or property damage. This will cover legal costs if a claim was made against either you or your employer. It adds an extra layer of protection allowing you to feel confident in your work knowing your covered if an unexpected incident arises.
Holiday Giveaway
Not only does your margin cover the things listed above but it also gives you exclusive access to our holiday giveaway. Every Danbro Umbrella employee is automatically enrolled into our £1,500 voucher holiday giveaway. Every 2 months the lucky winner will receive a voucher valid with top travel brands. Any contractors that upgrade to our PLUS margin will receive an additional 5 entries!
What’s even better, with Danbro Umbrella you don’t have to wait for any of your rewards! You can access your perks from the second you join us. Our streamlined onboarding process ensures a quick start, and our excellent customer care team is available to answer any questions you may have before, during, or after joining.
