It seems to be a universally held belief that a compliant PAYE Umbrella company is one of the costliest things you have to pay for every month, after your mortgage. Really, is that so?

I could name a dozen outfits, some good some better, that'll handle all your quirky contractor needs for around £2 a day, so driving a measly three miles to the shops would cost more.

Other little daily bits & bobs cost more, too, like a pint of beer in the West End, a cup of Mocha Latte Espresso (whatever the trendiest weirdest one is these days), or a curled up sandwich you've just queued three days for. If you're like the rest of the population you'll also be spending more on food, clothes, going out with friends, presents, family outings and your holidays. I bet your credit card & loan repayments come to more than £2, and so will snacking between meals and smoking a couple of fags a day.

You could even imagine shoving that sort of cash at some homeless urchin just so they'll let you pass, or dropping it into a collection tin when the big bristling collector has managed to separate you from your wife and has you pinned into some corner, telling you about poor weebles in the desert who eat sand for breakfast, lunch and dinner.

But what if you're not after the lower end of the food chain, which you suspect may well be held together with rubber bands & Sellotape, are only open every other Thursday after lunch and take four or five attempts to get your timesheet invoiced correctly. You think no one can deliver service, acceptable service, at those prices.

All right, let's ramp it up a level and see what's going for £4 a day. Steady, though, we're nearly up to "Pint, please, barman and a half for the lady" levels.

You'll be surprised to find that even for those not quite costing that much standard levels of service include your full registration & validation, employee pack, simple to follow instructions that cover everything you need to do taking you step by step through the simple processes, insurances included, help with form filling, plenty of well trained staff who are on hand, complete on-line interaction & access to your records, high security levels and emergency back-up procedures if things ever go wrong.

You can also get a Personal Account Manager, access to their legal department and the benefits of a Dispensation* with some. But even going for one of the top ten companies won't ever be an expensive choice. Cut down one drink a day and you've paid for it just like that.

The first time you approach an Umbrella company you may not know what they do, or why you even have to make the call in the first place. But you strive forward and dial their number or click their clickables, because you want to take the job and you know setting up your own limited company, in these days of ready-made Umbrellas, is quite ridiculous if not verging on the absurd for all but the very few nerdy types.

They're actually quite easy to deal with. And simple to use. In these thoroughly modern times they treat you well & give you total control over your account. You're given an idiot-proof portal that stores all your records electronically and can key in your hours from home when it suits you to. You only pay when you use them and most have money back guarantees.

Once upon a time, far away, there were tales of noble contractors doing a similar thing, but just for themselves. I believe the name was Ye Olde Contractor. Setting up a company, registering for PAYE and VAT, then you need a business bank account with all the mindless form filling that entails, monthly payments to make, accounts to get ready, plenty of data entry, after-work work, submissions, claims forms, numbers, columns ARRRRRRGGHH!

But this is no problem with an Umbrella company. You have nothing to do. I'll say it again you have nothing to do. Your processing fee covers all that nonsense. Your Umbrella company does all the work for you. Send them your timesheet and you're away.

‘You're not a real contractor if you use an Umbrella company.' Spouted one of the dwindling purists of yesteryear. ‘You're not down the pub.' I responded, feeling a little sorry for the fact he was facing another Friday night in front of an excel spreadsheet, while I was already on the way out. He's the type you'd hear demanding to bring back the propeller and "Damn to hell the infernal Jet engine."

Umbrellas are a great solution. These days just about everybody uses one. It's great value, works well and there's no long-term commitment.