Umbrella Companies

[ASB]

Whats your problem? I asked a simple question in a civil tone, you dont want to help then shut up. For your information I don't think "contractors earn a wedge so I'll just do it for three months and fill my boots" nor do I want "someone to wipe your arse for me"

I am new to this and assumed (wrongly in your case) I could get a bit of friendly advice from people who had been there.

Quoting the wrong bit but couldn't be arsed to press the first page button.

FWIW even for 3 months consider incorporationg. Total costs would be around 1250 for a years trading. You'll get 250 back from IR if you file PAYE returns on line, also if you register for the flat rate vat scheme you'll get about 2% of turnover back. Lets say 25k @ 2%. = 500 quid.

So overall your costs of being LTD are likely to be lower than an umbrellas commission. It doesn't really take very long. I doubt it takes any more real effort than a brolly.

[Lucifer Box]

It's obvious you're a contractor

Ahh, you saw right through me, Denny.

[Parisno]

Time to get back on track here, I will re-phrase my question (to keep people happy).

After reading everything I can find, and speaking to several umbrellas on the phone I have it down to a possible 2 - 'Orange Genie' & 'Orange and Gold' with Parasol as an outsider (quite a few -ve comments on here). Has anyone any recent and personal experience of any of these 3 they would like to share?

[dmini]

Don't touch Parasol at the moment - READ THE POSTS!! These are recent - the last few weeks!!!!
Lots of people are owed money, they have miscalculated sums due, you cannot get hold of them, on phone, email or online. When they are out of this mess maybe, but that isn't until mid-May at the earliest - realistically probably another month. If you are trying to get them to activate a contract, and you cannot get hold of them by any means ..... need I say more!
The other two you list I have no experience of

[Denny]

Time to get back on track here, I will re-phrase my question (to keep people happy).

After reading everything I can find, and speaking to several umbrellas on the phone I have it down to a possible 2 - 'Orange Genie' & 'Orange and Gold' with Parasol as an outsider (quite a few -ve comments on here). Has anyone any recent and personal experience of any of these 3 they would like to share?

There was some talk a while back that OG was in financial trouble - that means that if they go under you won't get your money. Parasol are more solid, but they are big now, bureacratic and are attracting some criticism of their customer service now, whereas before they were regarded almost exclusively in a good light. Never heard of O&G.

To be honest, brollies are much like EBs - there are no good or bad ones only ones that fit your own requirements depending on the luck of the drawer and the person on the end of the phone.

If you want to play safest, and go with a brollie that we all know about then I would plump for Parasol.

[Fat Tony]

Regardless of whether an Umbrella is Good, Bad or Ugly they are an extra party between you and the client that you just don't need. I've been contracting for the last 10 years and dabbled with umbrellas both when I was a newbie and during the latter stages of my career.

Believe me, if you go down the umbrella route you will spend as much time, if not a lot more, checking whether the brolly is getting their figures right, chasing invoices and payment etc. than if you were running your own business.

I used Orange Genie on and off for the last couple of years when I needed a quick fix after winding up my own Ltd. They were the dog's to start with but became a victim IMO of their own success and they seem to be the best of a bad bunch. You will also find certain agencies, even the decent ones, will recommend particular brollies as it is in their interest to do so. Sandersons tend to recommend Giant for example who I wouldn't touch with the proverbial.

I've now gone ltd again with a decent accountant (try SJD or Darren at 1st Accountancy) which is my preferred way of working.

The point about contracting, for me anyway, is control and independence. Forget whether you will earn more or less than a permie, that is an irrelevance. You decide when to invoice, when and what to pay yourself, whether to take the company further and do other things with it etc. etc.

If you want to 'dabble' for 3 months then by all means go with someone like Orange Genie or one of the less-known smaller outfits like Drole Computing Services but expect as much 'hassle' as running your own company and without the satisfaction plus the added bonus, as someone has already pointed out, that if the likes of OG go under you can say goodbye to your money.

[VectraMan]

FWIW I did my first contract through Parasol, and thought they were excellent. It's only the last few weeks that the brown stuff seems to have hit the spinning thing.

However, I did it because I wanted the easiest way to dabble thinking I'd be returning to a permie job at the end, but with hindsight I regret not setting up my own Ltd. back then as I reckon it's cost me around £2K, and right now I'd be a lot happier having an extra £2K in my bank account (or more accurately, £2K less on my credit card balance).

I agree with Fat Tony, now I'm doing it I do quite enjoy running my own Ltd. It gives you a real sense of control and gives you a better understanding of where the money is coming from.

[Xtrain]

Which one...

Time to get back on track here, I will re-phrase my question (to keep people happy).

After reading everything I can find, and speaking to several umbrellas on the phone I have it down to a possible 2 - 'Orange Genie' & 'Orange and Gold' with Parasol as an outsider (quite a few -ve comments on here). Has anyone any recent and personal experience of any of these 3 they would like to share?

Orange Genie were rumoured to be in trouble a while back and the inference on this site is that they have been traded insolvently. Not sure myself and haven't used them.

Parasol were well respected on here and I have used them myself and they were good. Unfortunately recent events have taken place (not sure what) and they have had an absolute slagging. My agency told me that all their Parasol contractors have now defected to own ltd or other umbrellas and their are rumours abound about them re-financing!

Orange & Gold are a smaller op than the 2 above, never used them but my agent says they have a decent rep and no -ve feedback (as yet). I aslo think they do both ltd and umbrella.

[Fat Tony]

Parasol appear to be in in difficulties of late and most contractors I know with them have switched to ltd as per xtrain's experiences.

My last dealings with OG this year had my pay arriving in two separate installments in my bank account on top of receiving several incorrect payslips for the same month and no apologies or explanations (although I did eventually receive the right amount). They have also recently split into several companies. Definitely something amiss there.

It is too easy to be lured by the promise of an umbrella doing all the work for you whilst you sit back and enjoy your G&T on the patio - just aint so.

I cannot think of one umbrella I would use now with any confidence.

[yeahrite]

advice

thanks for all the good advice. i'm new to contracting and to start with i'm taking the advice of my agent. he got me to sign up with orange genie for a few months while i'm getting my company sorted. no probs so far. they said they were happy for me to visit them, maybe i will take them up on it....what should i be asking them, do you think?