This Colchester company takes on the administrative headache for contract workers in the IT, engineering and pharmaceutical sectors. Contractor Umbrella handles invoicing, deducting tax and NI contributions, and paying a net salary direct to its contractors. It also earns commission on sale of third-party pension products to them. Founder Simon Dolan, an accountant, says the company’s charging structure – contractors pay a flat fee rather than a percentage of earnings – has helped to grow sales 147% a year from £2.1m in 2003 to £32.2m in 2006. The reported sales figures reflect the total amount invoiced to employers on behalf of the contractors.
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