Umbrella Company Provider

Our umbrella company solution - Director Member

This solution is suitable for medium term contractors who will consume expenses throughout the duration of their contract. As a proprietary company director to one of our ready made umbrella companies, contractors will pay Class S PRSI which ensures that they have no liability to employers PRSI at rates up to 10.75%.

The Process
  • If you wish to become a director of one our Umbrella Companies simply complete our Sign Up Form and return it to accounts@iconaccounting.ie
  • We will liaise with your agency and have you set up within one working day
  • Following receipt on the sign up form, you will receive the Icon Accounting Welcome Pack
  • Within your Welcome Pack you are requested to sign a B10 to certify that you will act as proprietary director of the allocated Umbrella Company
  • You will also receive the Icon Accounting Service Contract and an Agent Link Notification
  • We simply ask you read, sign and return the documents, however if you are unclear about any issue, simply contact us. We are here to help you in any way, at all times



Invoicing/ Payment

 

As a client of Icon Accounting you will receive your own unique login details for our on-line portal

  • Our on line portal allows you to manage and view your timesheets, expenses and documents in one place
  • Simply enter the amount of days you wish Icon Accounting to invoice to your employer/agency (Please note timesheets should be approved by your line manager, prior to uploading)
  • We will then issue the invoice to your employer/agency on a weekly/fortnightly/monthly bases as requested
  • Following receipt of funds, Icon Accounting will process your payroll and transfer funds immediately via online banking
  • You will also receive notification via e-mail that payment has been made alongside your payslip

Claiming Expenses as a Director Member of an Umbrella Company

 

As a proprietary director you are eligible to claim for expenses that have been wholly and necessarily incurred as business expenses in accordance with Revenue

  • Travel & Subsistence - mileage in accordance with the civil service rates can be claimed. The travel must not be related to travelling from your home to your principal place of work.
  • Training & Education - you can claim for any expenditure incurred for furthering your education as long as it is related to your principal employment, e.g. purchase of training manuals.
  • Hardware - You can be re-imbursed for laptops, computers & ancillary equipment purchased at start up.
  • Repairs of business equipment
  • Other travel expenses relating to your employment, e.g. travel abroad for work, claim back flight & re-location costs.
  • Professional fees
  • Telephone / Broadband & Mobile phone
  • Subscriptions & Memberships to professional or educational organisations
  • Printing, Postage & Stationary - you can claim a proportion of home office expenses

We are also happy to advise you in relation to pension contributions and most tax efficient levels of contributions to maximise your tax breaks.

VAT will also be refundable in relation to any VAT invoices that are allowed by the revenue.

Please note that expense claims must be submitted by month end for processing with your payslip in relation to that period, Icon Accounting will always follow revenue guidelines and will inform the client if they feel that expenses are not justifiable.

 

Icon Accounting Management Fee

 

Our fee for the Director Member is

  • €140 per month for contractors who are paid monthly
  • €80 per fortnight for contractors who are paid fortnightly
  • €40 per week for contractors who are paid weekly

There is no sign up or leaving fee.

 

If you no longer require our services

 

If you secure a permanent position, are out of contract or are re-locating and no longer require our services, we will ensure all your taxes are paid up to the end of your last payment and issue you with a P45.

 

If you have been using our service for more than 4 months of the year, if needed, we will complete your yearly tax return for you when the time comes.

 

We strive to offer everyone an excellent level of service. Whether you are interested in using our service, currently signed up or if you need to move on, our commitment is to make sure you are fully tax compliant and happy with our service before, during and after your time with us.