Director Umbrella Company

Director Umbrella Company

Our Director Umbrella Company allows you enjoy the benefits of being self-employed in an instant. We'll manage your registration and set up as a Director of the Umbrella Company, all tax obligations and paperwork, accurately calculate your tax and ensure you're paid on time, every time.

What is a Director Umbrella Company? 

A Director Umbrella Company is an intermediary company responsible for deducting payroll taxes on behalf of a Contractor.

All payments are processed via the PAYE system with accurate calculations and deductions of tax, PRSI and USC to ensure you're fully compliant with no hidden tax surprises.

As a Director of the Umbrella Company, an Income Tax Return must be filed, but don't worry, as we'll take care of this for you.

This is an ideal solution for Professional Contractors and freelancers who wish to maximise their take home pay and pay Class S PRSI Contributions.


Benefits of choosing a Director Umbrella Company

Simple Hassle Free Set Up
No Sign Up or Leaving Charges
Personal Advisory Team
Accurate, On-time Payments
Tax Compliance
Class S PRSI Contributions
Dedicated Payroll Account Manager
Help with Business Expense Claims
On-Boarding Contractor Support Team
24/7 Access to Contractor's Portal
Contractor Wealth Management
Employers and Public Liability and Professional Indemnity Insurance

Management Fee

FREE set up and a service that suits your needs. This Pay As You Use service is ideal for first time Contractors, plus we won't charge you a percentage of your Contract Income.

Pre Tax

€40 per week

Weekly Payroll
  • Free Set Up
  • Tax Deductible Weekly Fee
  • Weekly Invoicing
  • Accurate Same Day Payment Processing
  • Employers Liability €13 million
  • Public + Products Liability €6.5 million
  • Professional Indemnity €2 million
  • Contractor Tax Planning
  • Smart Technology i-Connect
  • Contractor Wealth Management
Pre Tax

€70 per fortnight

Forthnightly Payroll
  • Free Set Up
  • Tax Deductible Fortnightly Fee
  • Fortnightly Invoicing
  • Accurate Same Day Payment Processing
  • Employers Liability €13 million
  • Public + Products Liability €6.5 million
  • Professional Indemnity €2 million
  • Contractor Tax Planning
  • Smart Technology i-Connect
  • Contractor Wealth Management
Pre Tax

€140 per month

Monthly Payroll
  • Free Set Up
  • Tax Deductible Monthly Fee
  • Monthly Invoicing
  • Accurate Same Day Payment Processing
  • Employers Liability €13 million
  • Public + Products Liability €6.5 million
  • Professional Indemnity €2 million
  • Contractor Tax Planning
  • Smart Technology i-Connect
  • Contractor Wealth Management
After Tax

€19.20 per week

Weekly Payroll
  • Free Set Up
  • Tax Deductible Weekly Fee
  • Weekly Invoicing
  • Accurate Same Day Payment Processing
  • Employers Liability €13 million
  • Public + Products Liability €6.5 million
  • Professional Indemnity €2 million
  • Contractor Tax Planning
  • Smart Technology i-Connect
  • Contractor Wealth Management
After Tax

€33.60 per fortnight

Forthnightly Payroll
  • Free Set Up
  • Tax Deductible Fortnightly Fee
  • Fortnightly Invoicing
  • Accurate Same Day Payment Processing
  • Employers Liability €13 million
  • Public + Products Liability €6.5 million
  • Professional Indemnity €2 million
  • Contractor Tax Planning
  • Smart Technology i-Connect
  • Contractor Wealth Management
After Tax

€67.20 per month

Monthly Payroll
  • Free Set Up
  • Tax Deductible Monthly Fee
  • Monthly Invoicing
  • Accurate Same Day Payment Processing
  • Employers Liability €13 million
  • Public + Products Liability €6.5 million
  • Professional Indemnity €2 million
  • Contractor Tax Planning
  • Smart Technology i-Connect
  • Contractor Wealth Management

New To Contracting

Set up by completing our online starter form. We'll then liaise with your recruitment agency to manage your set up, tax, payments and all administration.

Set Up

Begin your set up under the Director Umbrella Company by completing our online Starter Form.

Advisory Team

Our advisory Team will contact you prior to your set up and help with any questions. We'll liaise with your agency and submit all details required for your Contract.

Contract for Services

You'll receive a Contract for Services outlining the terms and conditions of the contract.

Revenue Account

This is a mandatory Revenue requirement with the introduction of PAYE Modernisation 2019. Our Contractor Support Team will provide full assistance with registering your Revenue Account.

i-Connect 24/7

You'll receive a personal account and access to the Icon Accounting portal : i-Connect. Here you can complete online time sheets and business expense claims

Business Expenses

If it's your first time Contracting it can be difficult to know what you can and can't claim for. Your Payroll Account Manager is on hand to advise you and ensure you receive all entitlements

Tax and Payroll

On receipt of funds, we guarantee immediate processing of payroll with accurate tax calculations on a real time basis

Payment

Your net payment is transferred to your Personal Bank Account with a supporting payslip showing the deduction of tax and PAYE Umbrella Company management fee

Frequently Asked Questions

How long does it take to set up under the Director Umbrella Company?

Contractors can be set-up immediately under the Director Umbrella Company.

Can I change my solution under the Umbrella Company?

Yes, contractors can change from a Director Umbrella Company to a PAYE Umbrella Company at any stage throughout the contract. Simply contact our office and our team will take care of the rest.

Do I need to set up a separate bank account under the Umbrella Company solution?

No, payment can be made to your personal bank account. A separate bank account is only required when setting up a Personal Limited Company.

Do I need to setup a Direct Debit or Standing Order to receive payment under the Umbrella Company?

No, you do not need to do so. Once funds are received from your recruitment agency, we will immediately process your payroll and transfer the funds to your personal bank account.

Will I get charged if I don't use the service?

It's free to set-up up under our Umbrella Company soltions and we offer a Pay As You Use service, meaning you will only be charged when we process your payroll.

Do I have to take care of my own taxes under the Umbrella Company Solution?

No, Icon Accounting will take care of all taxes and payments for each contractor under both the Director Umbrella Company. As part of our fully managed service, we will offer full assistance to Contractors registering with Revenue and manage all invoicing, payroll and taxes for the full duration of the contract.

How much tax will I have to pay under the Director Umbrella 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.

What happens when I finish the contract?

Following final payment from your recruitment agency, Icon Accounting will simply inform Revenue that you have now ceased contracting. This will allow Revenue to update your MyAccount. For contractors who set up under the Director Umbrella Company, Icon Accounting will also resign you as a Director of the Umbrella Company.

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Got a Question?
Let us help

Icon Accounting, Columba House, Airside,
Swords, Co. Dublin, Ireland, K67 R2Y9
+353 1 8077106
info@iconaccounting.ie