Reply to: What do YOU want from an Umbrella?

[freshblue]

Brolly

Compliant, safe and reliable. I use Parasol and they are spot on.

[Newby]

Sorry to have offended you so badly Mr Money.

They charge 6%, the fact that accounting services (if they can call it that) are tax deductable doesnt make my statement incorrect.

The fact that they need to chase everyone to get anything done goes someway to confirming what the majority of people think. Surely it smells of poor process. A good business model runs smoothly and efficiently.

I have to agree with Mordac that for 6% it is a great business if people will sign up for it. I dont mind you taking kickback from companies like this if the end company is good. But I would enjoy your kickback whilst it lasts as contractors who ultimately have the power to choose who they want to go with, P4 will not last the distance.

The revenue are already talking to them over the wild claims made by them, I even ate my lunch from a P4 sponsored sandwich bagsuggesting that I can offset £24 in expenses for lunch, I am a big guy but that amounts to a dispensation that has a massive profit element.(my lunch cost £3.80).

bye bye P4

[Mordac]

Newby,
If your going to slag them off, at least get the facts right.
6% fee is offset against your tax, so it’s more like 3½%

They are the ONLY brolly that chases us for payments, chases contractors for time sheets, and basically just makes sure people get paid!
Unlike others that will leave it until the contractor gets a payslip with missing pay, then blame it on YOU not getting a time sheet in on time or US not paying in time.

I'm not surprised they chase everyone, 6% of everyones gross ends up in their account. Brilliant business model that, find enough gullible idiots and you can make a bloody fortune. I can't remember if you answered this before, but do they still offer backhanders to agencies for referrals?

[Money Money Money]

Its time for you to do a few searches for Prosperity4. Comments in regard to them are commonplace. They include 6% of gross income as a fee, set up costs, £1500 minimum spend and if you want to leave you have to buy yourself out. They are awful. But it would serve you well to have a look at the threads out there already about the umbrella side of things.
Have a look at the sticky thread and make sure that you are caught by IR35. If you are then contractor umbrella, PlanIt and Filetravel have all been talked about positively today in regard to umbrellas. today.

That is another £5 Mr L!!!!!

Newby,
If your going to slag them off, at least get the facts right.
6% fee is offset against your tax, so it’s more like 3½%
There are 2 contract types, so you EITHER pay 120 to set the account up (which I think is refunded), or pay nothing and have the burden of the set up costs.

When did you actually use them? Recently?
Or you after your fiver???? LOL

I keep saying this but due to bad experiences some of you have had in the past it never gets through.

We too had bad experiences with them! But they work out better for most of our contractors these days.

They are the ONLY brolly that chases us for payments, chases contractors for time sheets, and basically just makes sure people get paid!
Unlike others that will leave it until the contractor gets a payslip with missing pay, then blame it on YOU not getting a time sheet in on time or US not paying in time.

[Newby]

Its time for you to do a few searches for Prosperity4. Comments in regard to them are commonplace. They include 6% of gross income as a fee, set up costs, £1500 minimum spend and if you want to leave you have to buy yourself out. They are awful. But it would serve you well to have a look at the threads out there already about the umbrella side of things.
Have a look at the sticky thread and make sure that you are caught by IR35. If you are then contractor umbrella, PlanIt and Filetravel have all been talked about positively today in regard to umbrellas. today.

That is another £5 Mr L!!!!!

[gwenissia]

why what is wrong with prosperity 4?

(currently looking for a decent umbrella company)

[bangface]

Well Umbrellafella, i would like to be charged some where fair between £20-28
depending on what they offer. Ideally they would ofer a tranparent service where theye are no hidden charges, everything like proccessing expenses and insurance would be included in the price. everything would be upfront and the company would have a claen and honest image. Basically not prosperity 4


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Least i got chicken

I guess he will be back to playing World of Warcraft now then

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[DaveB]

I use Dasa Consulting (www.dasaconsulting.co.uk). They were recommended by an ex-collegue and I have found them to be 100% efficient and friendly whilst not over-charging for their services. If you want to join them, email me first so that I can get my referral bonus!!!

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[delsvan]

I use Dasa Consulting

I use Dasa Consulting (www.dasaconsulting.co.uk). They were recommended by an ex-collegue and I have found them to be 100% efficient and friendly whilst not over-charging for their services. If you want to join them, email me first so that I can get my referral bonus!!!

[malvolio]

oops....

[John Galt]

you're

[malvolio]

And as I (and others) have said before, if you insist on paying 20% more tax than you need to, you still get to keep more net incomefrom your own company. You're starting from the wrong direction; you should not be inside IR35 anyway. But hey, it's your money your wasting...

[John Galt]

Nope - got my own business. Why would I need to pay someone else to run it for me, more expensively and less efficiently than I can do it myself? It's nothing to do with experiences, but from where I sit if you want people to hold your hand, stay permie.

As I have said before, if you are caught by IR35 there really is not a lot in it from a financial point of view. I don't see it as hand holding - just a case of paying someone else to do something I don't want to do

[John Galt]

which one do you use? i use Plan IT.

www.contractorumbrella.com

[malvolio]

Well the one I use does all that Mal. Honestly some of you lot must have had some really bad experiences with umbrellas

Nope - got my own business. Why would I need to pay someone else to run it for me, more expensively and less efficiently than I can do it myself? It's nothing to do with experiences, but from where I sit if you want people to hold your hand, stay permie.