Paystream - AVOID

[genji7]

Just to share my experience with Paystream - in a word, AVOID

They provided illustrated take home pay with higher amt by inserting salary twice then never told me that I'm obliged to stay with them for three months at least nor the insurance policy I purchased through them is tied in with their services meanining that I will not be covered when I leave them.

After seriously dreadful accounting advice - suggesting backdated claim then critising me when I reminded them with their own advice (hilarious) , suggesting weekly salary amt. which is lower than my expenses etc.. all extreamly poor exercises, I've decided to switch since their fee is top end in the market £120 +VAT for nothing , then they sent me the screenshot capture of tick box area where small print of T&C stating this ridiculous three months staying rule.
Then insisted I accept T&C therefore it's my director's liability to pay them for three months fee.

Since the stage of accpting T&C is even not accessable now (it was only registration stage), surely, it's not the first time they've done this to the hard working contractors.

I'm considering sending this story to the BBC Watchdog as well as financial ombusman for small print T&C victims.

Any experience with them? Btw, I was with them as my job agent, Consultancy group introduced this as a part of biz package so surely he got his commission out of this and disappointed that he did not mentioned this either when I was singed in.

Does anyone dealt with Consultancy group, too? What was experience with them?

[gables]

Just to share my experience with Paystream - in a word, AVOID

They provided illustrated take home pay with higher amt by inserting salary twice then never told me that I'm obliged to stay with them for three months at least nor the insurance policy I purchased through them is tied in with their services meanining that I will not be covered when I leave them.

After seriously dreadful accounting advice - suggesting backdated claim then critising me when I reminded them with their own advice (hilarious) , suggesting weekly salary amt. which is lower than my expenses etc.. all extreamly poor exercises, I've decided to switch since their fee is top end in the market £120 +VAT for nothing , then they sent me the screenshot capture of tick box area where small print of T&C stating this ridiculous three months staying rule.
Then insisted I accept T&C therefore it's my director's liability to pay them for three months fee.

Since the stage of accpting T&C is even not accessable now (it was only registration stage), surely, it's not the first time they've done this to the hard working contractors.

I'm considering sending this story to the BBC Watchdog as well as financial ombusman for small print T&C victims.

Any experience with them? Btw, I was with them as my job agent, Consultancy group introduced this as a part of biz package so surely he got his commission out of this and disappointed that he did not mentioned this either when I was singed in.

Does anyone dealt with Consultancy group, too? What was experience with them?

I'm with paystream as an umbrella purely to process income (i.e. I have my own accountant), they take £18/month for this. I've had absolutely no issues whatsoever with their service.

[MonkeysUncle]

Have a look on this forum, there have been people both with good and bad experiences of Paystream. I am in the latter.
I used their umbrella service when I was under PS IR35. Awful service.

[gables]

Have a look on this forum, there have been people both with good and bad experiences of Paystream. I am in the latter.
I used their umbrella service when I was under PS IR35. Awful service.

Hi Wparkar,

For context it might be useful to say when that was. I'm currently using them for a PS IR35 contract and have had no issues, so maybe they've improved since you last used them?

[MonkeysUncle]

Hi Wparkar,

For context it might be useful to say when that was. I'm currently using them for a PS IR35 contract and have had no issues, so maybe they've improved since you last used them?

Apologies,
I used then April 2017 when off payroll working was first introduced into the PS. I would give some leeway if it was issues with IR35/Off Payroll but it wasnt. It was silly mistakes like only paying for me for 3 days of the week when I had worked (and entered into the system 5 days).

[toastermoster]

Been with PayStream for 5 years - had no problems......

[JB3000]

Just to share my experience with Paystream - in a word, AVOID

They provided illustrated take home pay with higher amt by inserting salary twice then never told me that I'm obliged to stay with them for three months at least nor the insurance policy I purchased through them is tied in with their services meanining that I will not be covered when I leave them.

After seriously dreadful accounting advice - suggesting backdated claim then critising me when I reminded them with their own advice (hilarious) , suggesting weekly salary amt. which is lower than my expenses etc.. all extreamly poor exercises, I've decided to switch since their fee is top end in the market £120 +VAT for nothing , then they sent me the screenshot capture of tick box area where small print of T&C stating this ridiculous three months staying rule.
Then insisted I accept T&C therefore it's my director's liability to pay them for three months fee.

Since the stage of accpting T&C is even not accessable now (it was only registration stage), surely, it's not the first time they've done this to the hard working contractors.

I'm considering sending this story to the BBC Watchdog as well as financial ombusman for small print T&C victims.

Any experience with them? Btw, I was with them as my job agent, Consultancy group introduced this as a part of biz package so surely he got his commission out of this and disappointed that he did not mentioned this either when I was singed in.

Does anyone dealt with Consultancy group, too? What was experience with them?

Ignoring what the 1 post wonder has said, generally these firms that pay a kick back to the agent have to rip you off (its the only way they can make their money back on the commission they paid to the agent).

You could probably mention to watchdog you got screwed over by their take home pay illustration. They are probably not the only ones doing this. And the commission too. This type of thing is widespread within the industry. 'Everyone' seems to be at it.

How much did you pay for your insurance certificate? Surely if you paid a stand alone fee for the insurance for a year's worth of insurance you are covered? If the insurance is just bundled into the monthly fee, then you can't be surprised that you are no longer covered if you no longer pay the monthly fee.

What were you trying to back date?

I don't understand the point about weekly salary is less than your expenses? What expenses? Business or personal? In addition to the weekly salary, did they mention dividends?

You should report your agent to his employer/manager. I don't think the agent should be taking commission (it should be the employer taking the commission).

I think the BBC may take this case. The BBC are taking a lot of blame with regards to contractor tax and I'm sure they would love the opportunity to blame someone else.

Report them to ACCA or whatever organization regulate them or their accountants.

What are you going to do about the 3 months fees?

[craigy1874]

Been with PayStream for 5 years - had no problems......

That you know of, until you get an HMRC enquiry

[toastermoster]

That you know of, until you get an HMRC enquiry

Umm. Actually there is knock at the door

[genji7]

Ignoring what the 1 post wonder has said, generally these firms that pay a kick back to the agent have to rip you off (its the only way they can make their money back on the commission they paid to the agent).

You could probably mention to watchdog you got screwed over by their take home pay illustration. They are probably not the only ones doing this. And the commission too. This type of thing is widespread within the industry. 'Everyone' seems to be at it.

How much did you pay for your insurance certificate? Surely if you paid a stand alone fee for the insurance for a year's worth of insurance you are covered? If the insurance is just bundled into the monthly fee, then you can't be surprised that you are no longer covered if you no longer pay the monthly fee.

What were you trying to back date?

I don't understand the point about weekly salary is less than your expenses? What expenses? Business or personal? In addition to the weekly salary, did they mention dividends?

You should report your agent to his employer/manager. I don't think the agent should be taking commission (it should be the employer taking the commission).

I think the BBC may take this case. The BBC are taking a lot of blame with regards to contractor tax and I'm sure they would love the opportunity to blame someone else.

Report them to ACCA or whatever organization regulate them or their accountants.

What are you going to do about the 3 months fees?

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I paid 300 for annual insurance and the policy provider is Hiscox, not Paystream. Hence there is no reason stopping coverage of biz even I leave the PS and of couse, it was not advised in a first place when I purchsed it thorugh them. It's an another hassle for director to resource another biz insurance at this point.

I do not claim personal expenses, all are biz. Yes, they did mention dividends which suggested to be paid on a monthly basis which I'm not followig it after discussed wtih new accountants.
I've decided to leave them since the three months fee they're after is covering the cost of company incorpoation fees and registering VAT which was described as a 'free services' initially but then asked to pay 3months fee due to these services when I wanted to leave them.
Also I do not want to stay another day with this horrendous company i've ever dealt with.

I'm very happy with new accountancy provider AJ accountancy in my local whom pointed out all accounting mistakes they've made so far - including missing VAT claims on an invoice even after completed registration.
I highly recommend their service.

This afternoon, I had to make a phone call to the paystream after hearing that they're refused to passing on my company accounting info that requires time to re-register and they did not transfer me to the right person either. After writing an another email, the sales person replied finally.

Yes, I'm definately going to report them to the ACCA and BBC as it's agreed by current accountancy provider, too that this kind of practice is not a standard in its industry and they're ripping off hard earned money.