Does anyone knows about Yellowstone, contract management in the Netherlands ?

[nobrain]

I am choosing a contract management company in Netherlands to work through them in Holland. Was contacted by Yellowstone (Yellowstone International - Home). Does anyone knows about this company and reputation? They want to keep 11.89% of my daily earning to give me back on the day I took holiday. I found this strange as if I take vacation once a year, they will accumulate all my 11.89% of my paycheck to pay me during my vacation and before this, they will get interest rate. What if their company went bankrupt, I will loose all my 11.89% kept with them.

[Dgallagh3]

Hi nobrain,

Any comments on your experience with yellowstone, if you used them?

Looking at the same situation myself shortly, yellowstone are the preferred payroll company of the agency. Looking at a 63% retention of rate if I use them (incl of 30% rule). Seems there might be better options out there.

Cheers.

[sunflower]

Yellowstone are very good and professional. They are really good with the 30% rule applications. They provide good advice on what you can claim for such as bicycles and cycling equipment if you use a bike to travel to the client.

Keeping a percentage of your invoice as holiday pay reserve is the norm of many payrollers in the Netherlands. Yellowstone and other payrollers will follow what they call the ABU collective contract. (Association of employment agencies). You can get that in English. I think it's available online somehwere. If not, ask them for the pdf copy.

Contractors under their umbrella solution are covered by a collective professional liability insurance from day one. You don't need to get a separate one for the Netherlands. (Take out a personal liability insurance for youself or travel insurance for any incidents outside the office).

If your agent or client has any strange terms in their contract, the Yellowstone legal team can check it out.

They can chase your clients too if they are being too slow with renewals.

Alternative is to say register your UK limited with the chamber of commerce in the Netherlands and then you will have administration headaches. You will need to use a Dutch accountant and that will not be cheap.

Some agents will try to bulldoze you into using their favourite payrollers. Don't do that. As long as you are tax compliant, the agent and the client will not mind.