Which umbrella - OrangeGenie vs Parasol

[TheBigYinJames]

That is an interesting point and I do see where you are coming from, however the two things (letting a room / running a Ltd) are not really comparable.

They are. It's a place in your life you could eke out some more money for yourself, but the general yukkiness of it just puts you off.

You lot claim running a Ltd these days is not as yukky as I make out, and I concede the point that back when I did it, you needed a chartered accountant to do your books even for low turnovers, not so many accountants with one-man-band experience, I mean my accountant still used graph paper and did double entry. I expected a candle with wax on it and a high desk when I walked in. PAYE was paper, with lookup tables for tax codes etc. Excel hadn't been invented Under those sorts of circumstances, it's not hard to take some bad accounting advice and end up under HMRC's magnifying glass.

That experience has put me off.

[EZ-IT]

I agree, I am in a similar situation and could run my own Ltd, but I would rather not and would rather spend the time doing what I enjoy, or with the family (which I suppose is both?). I use a company called Decimal Consulting, they are only small, but efficient and hassle free. PM me if you want their details.
PS - I dont earn a cut or anything

[NickFitz]

..the simple fact is that the most tax efficient solution is to use your own company.

And another simple fact is that not everybody regards tax efficiency as the highest goal in life. Have you ever had a tax investigation? TBYJ has, and has concluded that tax efficiency can be more trouble than it's worth. Seems reasonable.

[PM-Junkie]

Funny - I could have sworn the OP was asking for recommendations between two umbrellas. I guess that was code for "please have an argument about ltd vs umbrella and generally throw your teddies out of the pram"?

To the OP, sorry but I'll answer your question. I have two friends who use Parasol and they have no complaints. I know nothing about OrangeGenie though.

[TheBigYinJames]

Funny - I could have sworn the OP was asking for recommendations between two umbrellas.

Quite.

[original PM]

Erm, at its simplest:

Inside IR35 and own Ltd Company, you pay PAYE and NICs on 95% of your gross.

Inside IR35 and using an Umbrella, you pay PAYE and NICs on 100% of your gross.

QED...

Except for any expenses you legitmately claim - which could be more than 5%of your gross when with an Umbrella -but 5% as far as I can tell is the limit for expenses when running a ltd inside IR35.

As for the original Question - Parasol used to be very good - and not heard any complaints about them recently so can only assume they still are.

OrangeGenie Ii think (if I recall correctly) dissapeared and then reappeared under a new name - they used to offer payments before the agency paid them - which I think caused them problems - that said I do not recall hearing any thing negative about their service levels.

If you are solely interested in cost

OrangeGenie
Net Fees (after tax relief) 20% Taxpayer 40% Taxpayer
Weekly Paid £16.82 £14.38
Monthly Paid £53.80 £46.00


Parasol
PAYEServiceGross 20% tax payer 40% tax payer
Weekly £27.50 £16.82 £11.95
Monthly £87.95 £53.80 £38.21

Parasol seem to be the same for 20% payers but cheaper for 40% payers - not sure if this is an error or just a different calculation method.


However notice that Parasol do actually quote the full rate before tax relief where as OG do not - that for me shows some honesty and so would get my vote!

[The Lone Gunman]

I dont use brollies but if you search all threads for the ones you want to compare you should find out.
I would guess you will (as ever) get good and bad reports for both.
I do seem to remember that OG had some trouble a while back and we had some debacle on here over slander or libel or whatever it is on a bulletin board.


FWIW: This is an open forum and asking the OP if they have considered the Ltd track is legitimate as is offering advice in that direction. If the OP chooses a different path that is up to them
The arguments here have been informative so worth the read, but often it is just a shouting match and doesnt help answer the question. I like to try and keep the arguing and toy throwing in General or light relief. The other threads are for serious informed opinion and advice. Some posters could do with considering what they say. e.g. (sorry for picking on you) expenses are limited to 5% for IR35 caught Ltd companies. No. You can still claim legitimate expenses (as any employee) when IR35 caught. The 5% is an extra allowance to run your business.

[lambrini_socialist]

parasol were good day-to-day and seem trustworthy but trying to get them to talk to you and explain why, for instance, you're taking home less money after putting your rate up, or why you've randomly been under (or over!) paid by a few hundred quid, is very frustrating as their payroll team don't seem to like talking to people unless forced to at gunpoint.

p.s. go limited etc

[TykeMerc]

Not use Parasoll, but I have used Orange Genie off and on for the last 4 years, they're far from perfect, but I find them pretty decent. Certainly they knock spots off other umbrellas that I've used in the past.

[newbee]

parasol were good day-to-day and seem trustworthy but trying to get them to talk to you and explain why, for instance, you're taking home less money after putting your rate up, or why you've randomly been under (or over!) paid by a few hundred quid, is very frustrating as their payroll team don't seem to like talking to people unless forced to at gunpoint.

p.s. go limited etc

WHS