Umbrella Companies - Giant vs Paystream vs Advance

[Grace at ADVANCE]

If the take home pay is the same, then maybe compare on other important aspects?

You make good points, and I'd agree that outside any differences in margin, salary sacrifice options and perhaps expenses, then yes, it should be the same take home pay across all.
I'd still suggest it's worth checking the take home pay however, just to make sure, but they may be very similar.

That's when it may be worth considering what else you're looking for, as with the other points mentioned (e.g. service, set-up-process, efficiency etc.), as I would expect these to vary more from one company to another.

Best of luck!

[eek]

You make good points, and I'd agree that outside any differences in margin, salary sacrifice options and perhaps expenses, then yes, it should be the same take home pay across all.
I'd still suggest it's worth checking the take home pay however, just to make sure, but they may be very similar.

That's when it may be worth considering what else you're looking for, as with the other points mentioned (e.g. service, set-up-process, efficiency etc.), as I would expect these to vary more from one company to another.

Best of luck!

Once again you are offering things (expenses) that are really outside your control and that few (if any) people using an umbrella company will be able to use....

[lucyclarityumbrella]

The take home should be around the 58% range, shouldn't it?

Umbrellas may charge a few quid a month more than other umbrellas if they provide something extra in customer service (like 1 ring pickup), but it will essentially be the same as any other legitimate umbrella?

If you are at 40% tax payer then yes between 52 and 56% as average, obviously higher if only a 20%er. In all fairness the tax and NI figures even with margin differences are only going to be give or take a few pounds.

[dangerouswhensober]

Comment on Giant

I've just been offered a contract - subject to security screen and receipt of satisfactory references. The contract mandates the use of an umbrella company, to be chosen from a PSL of nine companies.

(I am already with one of the companies on the list - they are accountants to my little Ltd company).

Today (5th November) I tried calling six of the companies on the list, to get an illustration / quotation for use as an umbrella (because I'm greedy, and want to take home as much as possible :-))

Five companies answered immediately - although I had to go through a brief recorded message in each case.

One company didn't answer at all - except for a recorded message, just confirming that company name and saying that the call could be recorded - then an endless ringing. Just to give them a fair chance, I called this company twice - once this morning and once this afternoon.

That company was Giant.

I know that most contact these days is done by email or text - I do this with my existing accountants - but I fail to see how anyone could recommend a company which can't be contacted by telephone ?

I suggest the directors of Giant might want to take a look at their business processes ...

[eek]

Today (5th November) I tried calling six of the companies on the list, to get an illustration / quotation for use as an umbrella (because I'm greedy, and want to take home as much as possible :-))

In which case phone your accountant as they will probably have a system where the umbrella fee offsets your limited company's accountancy fee (some do) or at least offer a discount.

But it is a shame that the agency didn't make it clear to you that there would be virtually no difference in the end figure regardless of the umbrella you pick (except in circumstances like yours where your limited company still exists).