IR35, which umbrella company is the cheapest?

[ladymuck]

I'd agree with all the above. That price is certainly not the primary determinant or even in the top 3, however I wouldn't take it away from that list altogether. At the very least, I'd add it to the bottom of the above list.

I did say "not exhaustive".

Price is definitely a factor, I was merely saying there are more important things to consider first

[JustKeepSwimming]

£25-30/w seems about standard to me.

I've been fortunately that 2 agencies I've been with have had deals with paystream. Think it was like £30-40/m

Price isn't everything. SS is important to me and not all umbrellas offer it. PS have never done anything to make me raise an eyebrow, their onboarding is IMO very good and clear. If I ask a question I get a comprehensive and timely response.

I'm going to stick with the bigger umbrellas even if they cost a little more, rightly or wrongly I think it provides some protection in numbers.

[andymalory]

I would base my umbrella selection on (not exhaustive)

1. How responsive are they when you contact them
2. Do they take the time to explain everything to you and answer your questions to your satisfaction (even if you don't like the answer)
3. Are their illustrations clear, with all deductions and calculations well laid out and defined, or are there any poorly defined deductions with no explanation
4. Does their illustration come out with the same take home pay as other umbrellas (taking into consideration differences in margin), or is the take home notably higher than other umbrellas
5. What does their contract look like, are there any terms in there that cause concern or raise a red flag

I'd agree with all the above. That price is certainly not the primary determinant or even in the top 3, however I wouldn't take it away from that list altogether. At the very least, I'd add it to the bottom of the above list.

[eek]

I've never had any problems with paystream. They cost me £20 quid a week (not £27.50), they've always replied to my questions in a timely manner, they've always paid in time and always sent me my payslips and text messages when they are supposed to. Also, they work with a number of main pension providers in case you want to up your pension contributions.

I think for 20 a week, but also 27.50 they're more than worth the money.

If an umbrella is way cheaper than the rest, it's probably because they're doing some dodgy crap so the cheapest umbrellas are the ones to exclude immediately.

Hmm I wonder what the kick back the agency SchumiStars is working through is expecting? I suspect it's higher than the one your agency is seeking...

[eek]

Paystream messed up my tax code and left me with an unexpected £6K tax bill for the year.

Yes I should have checked but they really should have got this right.

Not really - it's very hard for an umbrella to handle the area around £100,000 of earnings when you allowance is taken away because it isn't the umbrella's job to do so it's a combination of yourself and HMRC...

[TheDude]

I've never had any problems with paystream. They cost me £20 quid a week (not £27.50), they've always replied to my questions in a timely manner, they've always paid in time and always sent me my payslips and text messages when they are supposed to. Also, they work with a number of main pension providers in case you want to up your pension contributions.

I think for 20 a week, but also 27.50 they're more than worth the money.

If an umbrella is way cheaper than the rest, it's probably because they're doing some dodgy crap so the cheapest umbrellas are the ones to exclude immediately.

Paystream messed up my tax code and left me with an unexpected £6K tax bill for the year.

Yes I should have checked but they really should have got this right.

[PCTNN]

I've never had any problems with paystream. They cost me £20 quid a week (not £27.50), they've always replied to my questions in a timely manner, they've always paid in time and always sent me my payslips and text messages when they are supposed to. Also, they work with a number of main pension providers in case you want to up your pension contributions.

I think for 20 a week, but also 27.50 they're more than worth the money.

If an umbrella is way cheaper than the rest, it's probably because they're doing some dodgy crap so the cheapest umbrellas are the ones to exclude immediately.

[TheDude]

They are all cheap however some are useless.

[Protagoras]

You are trusting these people with thousands of pounds per week, what makes you think your choice should solely be on which is the cheapest?

Quite. Umbrella companies should not be seen as a low-cost commodity.

Trust is vital, given the risks with the umbrella model. Quality of service should be a top consideration.

Also, +1 for Clarity.

[ladymuck]

I would base my umbrella selection on (not exhaustive)

1. How responsive are they when you contact them
2. Do they take the time to explain everything to you and answer your questions to your satisfaction (even if you don't like the answer)
3. Are their illustrations clear, with all deductions and calculations well laid out and defined, or are there any poorly defined deductions with no explanation
4. Does their illustration come out with the same take home pay as other umbrellas (taking into consideration differences in margin), or is the take home notably higher than other umbrellas
5. What does their contract look like, are there any terms in there that cause concern or raise a red flag

[SimonMac]

Just that really. Been with giant previously and now the new company want to use paystream.co.uk that want 27.50pw, which seems very expensive.

https://www.itcontractorsuk.com/top-...-companies.php

This list looks like some companies will charge as little as 10pw, which seems more resonable.

Thank you in advance for your replies.

With kind regards, SS.

You are trusting these people with thousands of pounds per week, what makes you think your choice should solely be on which is the cheapest?

[jamesbrown]

Er, perhaps not the best metric for choosing an umbrella for a variety of reasons.

Look for Clarity, which is routinely highly rated and recommended by pretty much everyone around here who knows (no affiliation).

[eek]

Hey the umbrella has to get the money from somewhere to pay the agency kickback...

[SchumiStars]

Just that really. Been with giant previously and now the new company want to use paystream.co.uk that want 27.50pw, which seems very expensive.

https://www.itcontractorsuk.com/top-...-companies.php

This list looks like some companies will charge as little as 10pw, which seems more resonable.

Thank you in advance for your replies.

With kind regards, SS.