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Recent content by Xtrain
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New umbrella company required!
As someone who has recently left the umbrella game I can confirm that Wary has got it sussed. This practice has been going on for quite a while with umbrella companies who "sail close to the wind" with how they calculate "employment costs". In effect the 13.8% is deducted from gross income and...- Xtrain
- Post #147
- Forum: Umbrella Companies
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Giant fees
I think it is up to the agency how they want to run their business. If they recommend a brolly then it is up to the contractor to decide whether that recommendations suits them. In an ideal world the recommendation would be based on service rather than commissions paid. It is however not an...- Xtrain
- Post #18
- Forum: Business / Contracts
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Giant fees
Brolly Fees Brolly Fees In the "old days" brollys used to charge either a weekly fee or a monthly fee dependent on how often your agency paid. For monthly paid the fee would work out cheaper as the brolly only has to do 1 payment process per month rather than 4 if you were paid weekly. I've...- Xtrain
- Post #12
- Forum: Business / Contracts
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Umbrella interpretation of pay period for NI!
Ni Ni IMHO the brolly is wrong. If your pay covered 3 weeks then they should have allocated 3 weeks worth of NI allowances. That is std PAYE proceesing. Seems to me like they have either messed up or their systems for processing are pants. Name and shame them and then move on to someone... -
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Parasol putting up monthly fees from 5th Oct
so Mr Carrington...why would anyone choose Parasol at £120 pm and get paid once rather than use you at £12.50 pw and get paid every week? There must be a difference...surely!- Xtrain
- Post #35
- Forum: Accounting / Legal
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Parasol putting up monthly fees from 5th Oct
In over 20 yrs of contracting I have never once been asked for any insurance related documentation. I have also never heard of any professional indemnity claims that have arisen. So my annual insurance fees are less than Parasol's monthly fee!- Xtrain
- Post #26
- Forum: Accounting / Legal
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Parasol putting up monthly fees from 5th Oct
£120 for providing a payroll service once a month seems like a lot of money to me. How can anyone justify this when others are offering a brolly service at £40 pm and accountancy fees are from £60 pm! These brollies might like you to think otherwise but ultimately with standardised and reduced...- Xtrain
- Post #17
- Forum: Accounting / Legal
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Umbrella or MSC - what's the difference?
The MSC's did not own any shares in the individual company's they were processing...the contractors owned them. So the MSC has nothing to transfer anywhere. If an MSC wanted to re-invent itself as an umbrella (paye) it would just set up another new company with its brand name and start...- Xtrain
- Post #6
- Forum: Accounting / Legal
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PAYE Umbrella Companies and redundancy
All PAYE brollies must be your employer in order to pay you via PAYE. You are therefore, despite what their contract with you says, an employee of theirs and you are entitled to all normal employment rights (sick pay, maternity pay, redundancy etc...). That was the good news. However the bad... -
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short contract - confused about umbrellas
...and since when was the PCG the authorative source on who was or wasn't affected by the rules that are actaully NOT confirmed until tomorrows budget!!! Maybe this knowledge was gained when they went into business with one of these "proper" umbrellas- Xtrain
- Post #8
- Forum: Accounting / Legal
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Parasol Expenses situation from April?
I think we have already established that what it says in your contract and where you actually work are 2 different things. Don't believe the IR will be fooled by this. Brolly fees are now equal or more than running a limited, you get 5% relief with a ltd, you can claim travel to work expenses...- Xtrain
- Post #39
- Forum: Accounting / Legal
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Parasol Expenses situation from April?
As a contractor you seem to know helluva lot about how brollies are run. Which one do you work for? Anyway to my mind I can't quite understand still why anyone would contemplate a brolly of whatever kind against a single ltd company. With a brolly you are now going to be an employee paying...- Xtrain
- Post #33
- Forum: Accounting / Legal
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Parasol Expenses situation from April?
? ? If any of your workers / employees / whatever you call them have a project meeting in Croydon then I think you / they can allow / claim them. However their travel expenses from where they live to their normal place of work cannot be claimed. You know it, they know it and the IR know it...- Xtrain
- Post #11
- Forum: Accounting / Legal
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New contractor looking for advice - Parasol or SCPay?
and they obviously avoided the question of which brolly they use! -
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New contractor looking for advice - Parasol or SCPay?
I really do think you are talking absolute pap! In all my years of contracting no client or agency has ever asked for proof of insurances of any nature! Nor have I ever heard of anyone being sued inidvidually or their company. If they sue me...great..there is no money in my business, and...
