NoLongerLimited, Prosperity 4

[Sponge Bob]

Erm

I am just about to start my very first contract having left Uni, and have been told that I should go through a umbrella company by the agency. I have been advised 2, No Longer Limited and Prosperity 4. Can anyone advise me what the best one would be?

Sorry to ask, but I dont want to get ripped off in my very first contract.

Thanks

[Uncle Max]

Thanks sponge bob-I was referred to this forum by a colleague as I wanted to ask about umbrellas. You have saved me some typing. I have tried a number including Prosperity 4, OrangeGold and Parasol. My advice is don't bother with Prosperity 4 unless you enjoy the hard (and I mean hard) sell. I couldn't get away. Talk about a gun to the head!! Got some straightforward advice from Parasol which made sense even to someone as green as me.

What struck me was the difference in the charges. Parasol were asking £20/week and Prosperity wanted almost £100-what's that all about?? Anyone else got views?

[rootsnall]

Yes even if Prosperity 4 provided a decent service the fact they are charging 5 times more than someone else for the same service should be enough to tell you something is wrong and steer well clear. I think its a pretty safe option to use Parasol but working through a Ltd does give you much better control of your money for a similar cost.

[Sponge Bob]

The prize goes to No Longer Limited

I have today checked out both the companies in question, No Longer Limited and Parasol.

Here is the black and white of it.

No Longer give me a higher return then parasol and charge me £11pw

Parasol offer me lower then NLL and charge me £20pw.

No contest.

I have now joined NLL. They are not pushy sales me either, but friendly people who realy did have my best interests at heart.

Hope this helps

[planetit]

Hmmm.

Lots of newbies asking questions about umbrellas.

Lots of newbies saying how great NLL is (some quite aggressively).

Hmmm

[Sponge Bob]

Planetit

They are the first 2 that crop up on google.

Can you advise me on someone better????

[planetit]

Planetit

They are the first 2 that crop up on google.

Can you advise me on someone better????

‘fraid not. Never used any of them.

I’m aware that some of them con you into believing you can claim expenses which you haven’t incurred, but other than that, I can’t help much.

[Sponge Bob]

Yes they have mentioned something about this, putting a keen emphasis on expenses that are not receiptable, is this what you mean???

I will be staying the odd night in a hotel, and P4 have some policy where I do not need to provide receipts and they said I can claim for staying there more nights then I would be. Sorry for sounding silly but this is fraud is it not??

Planetit may I trouble you in asking who you use??

[planetit]

Yes they have mentioned something about this, putting a keen emphasis on expenses that are not receiptable, is this what you mean???

I will be staying the odd night in a hotel, and P4 have some policy where I do not need to provide receipts and they said I can claim for staying there more nights then I would be. Sorry for sounding silly but this is fraud is it not??

Planetit may I trouble you in asking who you use??

They will have an agreement with the IR, so they don't have to see receipts. However, if you didn't incur the expense legitimately, you should pay tax on it via self assessment.

Whether you are likely to get caught is for you to decide.

I don’t use any umbrella company. I use my own Ltd. I suspect it’s cheaper (if you don’t want to use the expenses con), and I have a moral objection to handing over all my money to someone I don’t trust.

[classic_asp]

I used Prosperity 4 - ONCE - their system of being paid was awful - faxing them weekly - being paid monthly. They don't reply to your e-mails prompty either.
To top it all - when I completed a contract they charged my an £800 administration fee!! I had to fight to get this down to £200. Other umbrella companies would not charge anything.
I now use Parasol IT who are brilliant - their pricing is clear, the web app for entering your details is excellent and they reply to your e-mails really quickly.