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Paystream - AVOID

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  • cojak
    replied
    Yep, short projects are notoriously unprofitable for umbrellas, and your contractor had the misfortune to be split over 2 months. Not many accept such short contracts.

    I’m sure that Paystream is ok over longer contracts. They are recommended and you get what you pay for in this industry.

    Leave a comment:


  • Smoggy
    replied
    I've been using Paystream for a while and they've been very good. I pay £30 a week for getting paid weekly which includes them sorting out a SIPP contribution. Presumably £88 is a monthly figure and you've just been a bit unlucky it's been split over two months. Systems like this will be automatic though and it would be a total pain for them to somehow fudge it to pay your December day in November. Might also not even be possible to do this with something ike national insurance calculations which are dependent on payment period?

    Also in their defence I doubt they're actually making any profit from you having had to onboard you for such a short contract. There may be cheaper brollies out there but this forum is full of horror stories of dodgy companies. I'm happy to pay what I think is a reasonable price for a reliable service.

    Leave a comment:


  • luckydog
    replied
    Yes, please avoid Paystream. I've used 6CATS umbrella before and they only charged £10 per pay - that was 3 years ago (Paystream charge £88).
    I had a 14-day job (13 days in November, 1st day of December), and Paystream combined them into 1 payment, but 2 payslips. This allowed them to charge me their exorbitant fee of £88 TWICE. The second time was just for the 1st day of December.

    After trying to get a refund of the second fee, they said they could only do that if I had another pay coming (which I don't). The high fee is already a rip-off (another umbrella company did the same for me previously for a fee of £10). But to charge that for one day, on a 14-day total job is another level of rip-off. Don't use this company, there are much better deals out there.

    Leave a comment:


  • ascender
    replied
    Originally posted by BABABlackSheep View Post
    Thanks.... no idea how I’ve missed that explanation before.

    Leave a comment:


  • BABABlackSheep
    replied
    Originally posted by ascender View Post
    The rest of the payslip is fine, so I know what deductions are being made, pension contributions etc, my tax code is fine, but I’m wondering why my gross pay is split-up in to Basic and Commission, with Commission being the lion’s share?
    All explained here..

    What are the costs and fees of an umbrella company?

    Leave a comment:


  • ascender
    replied
    The rest of the payslip is fine, so I know what deductions are being made, pension contributions etc, my tax code is fine, but I’m wondering why my gross pay is split-up in to Basic and Commission, with Commission being the lion’s share?

    Leave a comment:


  • BABABlackSheep
    replied
    Originally posted by ascender View Post
    Just a query about Paystream... I have emailed them about it but thought I’d ask on here too as I’m sure this has come up before.

    On my weekly payslips, my income is broken down in to Basic Pay, Commission and Holiday Pay. 75% of this is against commission so I was just wondering why they’ve done that?

    Apart from anything else, I’m assuming this is going to render payslips pointless if I ever need proof of income because the basic pay accounts for about 15% of the amount. I’m assuming its for tax reasons which is also making me nervous....
    You can either accrue holidays and they will deduct them from your salary or opt out and you’ll get paid them. No idea why you wouldn’t opt out.

    I would and have recommended paystream after going through them. I have a number of ex-colleagues with them.

    Leave a comment:


  • eek
    replied
    Originally posted by ascender View Post
    Just a query about Paystream... I have emailed them about it but thought I’d ask on here too as I’m sure this has come up before.

    On my weekly payslips, my income is broken down in to Basic Pay, Commission and Holiday Pay. 75% of this is against commission so I was just wondering why they’ve done that?

    Apart from anything else, I’m assuming this is going to render payslips pointless if I ever need proof of income because the basic pay accounts for about 15% of the amount. I’m assuming its for tax reasons which is also making me nervous....
    Umbrella pay will be based on:-

    Minimum wage - that has to be met
    Bonus - which is everything above minimum wage
    Holiday pay - which has to be accounted for.

    Depending on the umbrella that bonus / commission could be being sent to your pension fund so it's best to keep it separate.

    If you are concerned about tax look at the employer and employee NI amounts - those calculations will show that the tax you are paying will be across both the minimum wage and the bonus and quite likely holiday pay to depending on how holiday pay is organised.

    Leave a comment:


  • ascender
    replied
    Just a query about Paystream... I have emailed them about it but thought I’d ask on here too as I’m sure this has come up before.

    On my weekly payslips, my income is broken down in to Basic Pay, Commission and Holiday Pay. 75% of this is against commission so I was just wondering why they’ve done that?

    Apart from anything else, I’m assuming this is going to render payslips pointless if I ever need proof of income because the basic pay accounts for about 15% of the amount. I’m assuming its for tax reasons which is also making me nervous....

    Leave a comment:


  • fairy081
    replied
    OUTCOME????

    Originally posted by genji7 View Post
    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?

    Hi,

    I have a similar issue with this company, conned me into signing into their clause for 3 month.. etc

    Did you get an outcome at all?? Did you get charged for 3 months?
    I have complained and said i do not want to pay them for 3 months

    Leave a comment:

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