Umbrella company questions

[TEEDASHARK]

Re: Umbrella Company Question

Yep I'm a former client of there's so I'm speaking from experience.

[Labour and IR35 Suck]

I've used Parasol for a couple of months and had no problems.

They pay quickly.

Things I dont like are:

They are not a real umbrella company they actually pay you PAYE and not dividends so the only benefits you get are that you can claim travel expenses. (this is not a too much of a problem for me because the pay rate on my current contract is the pits so I'm not likely to earn enough for tax and NI to be a issue)

Entering your daily travel expenses is slow and tedious.

I'd suggest you go else where and find a real umbrella company.

Signed: Poor and soon to be much poorer as being investigated by the IR

[maxwell]

Re: F035? The PCG is a much better bet

Look at this

www.shout99.com/contracto...834&n=1300

hope it helps

It costs £104.50 to purchase a tax investigation insurance scheme from Shout99. For £100 you can join the PCG and get comparable insurance thrown in for no extra charge. With PCG membership you also get

- Access to outside IR35 standard contracts
- Access to the PCG-Atsco Contract with Atsco agencies
- Free legal advice helpline
- Free tax helpline
- An online IR35 questionairre
- Discounted contract reviews
- Free IR35 manuals
- Discounted PI insurance
- A range of discounted services including home office insurance, hotels and travel, business software, training and office space

In addition to this, the PCG membership fees support a not-for-profit organisation (unlike Shout99) which represents contractors' interests by lobbying government, the Inland Revenue and others to improve the lot of its members. For example, PCG money has recently been used to pay for the Roger Tilbury case at the Special Commissioners - where the Inland Revenue were soundly defeated.

Why on Earth anybody would want to give £104.50 to Shout99 for tax investigation insurance while the PCG exists is beyond me.

[fiddleabout]

Re: F035? The PCG is a much better bet

> Signed: Poor and soon to be much poorer as being investigated by the IR

So have you been fiddling the books or are you referring to an IR35 problem? If IR35 why do you consider yourself caught (and if you do why wasn't it decared)?

An IR investigation does not necessarily mean you will be getting hammered for unpaid taxes - obviously it can but it is not a certainty.

[rooney]

re:Umbrellas

Re: "They are not a real umbrella company they actually pay you PAYE and not dividends so the only benefits you get are that you can claim travel expenses."

The majority of umbrella companies now operate in this manner. In addition some of the large agencies are now not allowing the use of composite umbrellas who I presume you think are the real ones.

[wheeles]

Why let someone else pocket your money?

I have been a victim of both Giant and Dignatio and if there is one lesson to be learnt by these experiences it is:

Get a good local accountant and operate as a limited company. Any middleman you let handle your affairs and finances is likely to be more inclined to fill their own pockets rather than yours.

[WWW ITDoctors co uk]

Re: Why let someone else pocket your money?

Unfortunately there are far too many distrusting contractors who fail to take good advice or don't look for that advice in the first place.
The best way to learn is from the mistakes of others.

[Mordac]

Re: Why let someone else pocket your money?

I have been a victim of both Giant and Dignatio

Ouch and double ouch...:\

[nicktheripper]

I was contracting and used http://www.orangegenie.com and found them to be very good at the time. I am now back in full time work again. Would recommend them...

[Hevra]

You sir are a necromancer and I claim my 5 corpses.

Hevra