Umbrellas up
Umbrellas up
Perhaps with a view to linking the article to an eye-catching accompanying image, we gave the title 'Under an umbrella' to Kevin Miller's article on composite companies (see Taxation, 16 February 2006, page 508) and mentioned umbrellas in the opening and closing paragraphs. However, Kevin has asked us to point out that he had refrained from talking in terms of 'umbrella companies' because there can be confusion as between the traditional umbrella company (where contractors become employees, but not shareholders and are paid by way of salary and expenses, not by dividends) — and which have their own compliance issues — and composite companies, where the aim is to receive a minimal salary, expenses and high dividends.