Which Umbrella Company ?

[Jamesw]

It looks like that I might have landed my first contract and now I'm thinking about what umbrella company to go with. I was looking at either Crystal or Parasol. Has anybody had any experaincing using these companies ?. If you could recommend anybody else that would also be good.

Also while I'm here and was wondering if someone could clear up a question that I've been getting conflicting answers to. If I purchase a laptop, can I put this through as an expense. I will be using this laptop for the contract.

Anyway, ay assistance help would be great..

Thanks

[LisaContractorUmbrella]

It looks like that I might have landed my first contract and now I'm thinking about what umbrella company to go with. I was looking at either Crystal or Parasol. Has anybody had any experaincing using these companies ?. If you could recommend anybody else that would also be good.

Also while I'm here and was wondering if someone could clear up a question that I've been getting conflicting answers to. If I purchase a laptop, can I put this through as an expense. I will be using this laptop for the contract.

Anyway, ay assistance help would be great..

Thanks

Whether or not you can claim the laptop as an expense will depend on whether or not it will be used wholly and exclusively for business purposes - that is the criteria for any expense.

HTH

[Jamesw]

Thanks for your response guys..

[Wanderer]

If I purchase a laptop, can I put this through as an expense. I will be using this laptop for the contract.

You should be OK if you can justify it as "wholly and exclusively for business use" and that private use will not be significant. Umbrellas handle this type of capital expense in different ways so it's worth checking it out with them before you sign up especially if the cost is substantial. They may do something like allow the expense but the laptop becomes "their property" but you can buy it back off them after some indeterminate amount of time for 10% of the purchase cost. It sounds like a bit of a fiddle, but it's apparently above board and legal and the umbrella never see the laptop.

Be wary of umbrella's take home pay calculators. Some of them calculate your weekly/monthly take home on working 5 days a week, 52 weeks a year (what, no time off? 44 weeks is more realistic). Use one of the contractor IR35 calculators on the web and get an unbiased opinion.

Go for Flat fee only not a percentage of what you earn and if you don't invoice there should be no fee. Be aware that anything that uses trusts, loans, foreign currencies or a "scheme" is widely considered to be risky. Make sure it is 100% UK based and you pay UK PAYE and NI on your earnings.

I know people who said they just went with the one that the most generous dispensation for expenses and put in claims right up to the limit without actually incurring the expense. They said it's a bit of a wink and a nudge and the umbrella never checked up on them so the system is wide open to abuse.