00 353 1 8077106 info@iconaccounting.ie

Director Umbrella Company

What is the Director Umbrella Company?

The Director Umbrella Company enables Contractors to become a Director of a limited company without any of the set up costs involved with setting up a Personal Limited Company.

As a proprietary Director of the Umbrella Company, Contractors have a self-employed status where they pay the lower rate of PRSI (Class S) 4% and do not need to pay the employers portion of PRSI.

The Director Umbrella Limited Company is owned and managed by Icon Accounting and is an ideal solution for medium to long term Contractors, relocating Contractors and professionals who wish to pay Class S PRSI contributions while contracting.

The Director Umbrella Company manages all invoicing, taxes and payments of your behalf, ensuring you remain tax compliant while Contracting. A contract will be raised between your assigned Director Umbrella Company and your recruitment agency for your services.

How does the Director Umbrella Company work?

Icon Accounting manages all administration, invoicing, taxes and payments for each contractor under the Director Umbrella Company.


You enter the number of days worked and any incurrent business expenses onto iConnect portal


Icon Accounting will then raise an invoice to your agency for payment


Once funds are received from your agency, your Payroll Account Manager processes your payment immediately and the funds are transferred to your personal bank account


Your detailed payslip will be sent to you via email and uploaded onto the iConnect portal

Why choose the Director Umbrella Company option?

Guaranteed tax compliance

Protected by Employers & Public Liability and Professional Indemnity insurance cover

Payment of Class S PRSI contributions

24/7 secure access to your personal account on iConnect

Retain self-employed status

Unlimited access to free Wealth Management advise with our partner, Rockwell Financial and the Icon Accounting Benefits Package

Claim tax relief on business expenses to increase your take home pay

Assigned Payroll Account Manager who will be your personal point of contact

How much does the Director Umbrella Company cost?

The Director Umbrella Company is a pay as you use service with no sign up or leaving charges.

The management fees are based on Contractors who carry out contract work on a full-time basis.  Also, these management fees are tax deductible so you will automatically receive tax relief on the below fees:


Weekly Payroll


Fortnightly Payroll


Monthly Payroll

How do I set up under the Director Umbrella company?


Complete and return the Icon Accounting Starter Form and email the completed form to: info@iconaccounting.ie


Once returned, our team will immediately set you under the Director Umbrella Company taking care of all tax registration, registration with CRO and administration duties


Icon Accounting will liaise with your agency and submit all limited company and insurance details of your behalf


Your agency will use the Director Umbrella Company details to draw up your contract


Icon Accounting will issue you with personal login details for the iConnect portal and contact details of your assigned Payroll Account Manager


A second contract between you and Icon Accounting will be issued for signing

What paperwork do I need to provide to set up under the Director Umbrella Company?

  • Completed Icon Accounting Starter Form
  • Copy of photo ID – Passport/driving licence/national ID card
  • Proof of address – Copy of utility bill/official correspondence
  • P45 (if applicable)
  • Signed B10 form to be returned in order to officially set you up as a Director with the CRO (Companies Registration Office)

The Icon Accounting Sign Up Process