Umbrella companies are becoming the hassle free choice for contractors with their low service efficient returns post the IR35 rulings. We interview Martin Priest of the Kinsella Group about his group of companies and the practicalities and benefits of moving to an umbrella solution.
Q1) When and why did you establish the Kinsella Group?
The Kinsella Group was established in 2004 after many months had been spent in defining a secure facility to provide tax savings for its participants. A need was perceived to develop such a facility as a number of the “traditional” arrangements which have been available to independent contractors are now no longer effective.
...the use of a company to employ one individual is expensive and cumbersome... Our facility is more efficient and cost effective.
Martin Priest - Kinsella Solutions
Q2) What particular advantages does the Kinsella Group offer? Why should people choose you over your competitors?
The Kinsella Group has established a discretionary trust for the benefit of its employees which is still effective unlike all other such trusts of which we are aware.
Q3) How can you help people mitigate their tax liabilities?
By providing a solution which addresses IR35 concerns and the like to enable loans to be made to participants.
Q4) Are your new participants first time contractors, or those moving from limited companies to umbrella solutions?
We have a mixture of both as well as individuals wishing to transfer from other less effective and secure arrangements.
Q5) How easy is it to start using an umbrella for first time contractors?
The documentation that we provide explains how our facility works and guides individuals through the joining process. We and the people with whom we work, are able to assist participants and answer any questions that they may have.
Q6) What is involved with a contractor moving to your service from a limited company?
They will need to have their existing contracts assigned or preferably wait until they enter into a new contract, which will be with another company with whom we work, who will handle all matters with their agency or end user of their services as appropriate. They will become our employee and sign a contract of employment.
Q7) Do you think it is the end of the Limited Company for most contractors?
In our view the use of a company to employ one individual is expensive and cumbersome and does not provide the savings that were previously available. Our facility is more efficient and cost effective.
Q8) How do you see the future of the contracting market, given the increase in outsourcing?
We feel that the market for our services is growing and will continue to do so.
Q9) What is next for the Kinsella Group?
To establish itself as a provider of quality services and steadily to expand the number of participants. The number of enquiries that we have already received has been extremely encouraging and we are very optimistic for the future.
Links:
Company web site: Kinsella Solutions
Contact information : Contact information