Best Umbrella Company

[BlasterBates]

The umbrella with the lowest short term retention will actially give you the highest long term retention.

That's because "retention" is decided by HMRC and not by the Umbrella co's.

The higher the retention the higher the interest and penalties you pay HMRC.

There is no clever way of avoiding tax. The umbrella with the lowest retention means they're calculating the tax correctly.

It's a nice thought isn't where Umbrella companies can compete against pitching different tax rates, but unfortunately there is only one HMRC and there is only one tax rate.

[LisaContractorUmbrella]

Dear OP

If by 'high retention' you mean you want to pay as little tax as possible then you don't want an umbrella company - you want a tax avoidance scheme. There are plenty of them - you mentioned several in your post - and most are probably under investigation by HMRC. If that is the case, at some point you will receive an APN; you can learn more about them and the misery they bring here: HMRC Scheme Enquiries.

I don't think anyone on this forum would recommend that you use one of these schemes and several could give you a whole host of reasons why you shouldn't

[Fred Bloggs]

For the benefit of the OP, those outfits offering high retention are not true brollies. They are tax avoidance vehicles. Look around, you'll find that HMRC are coming down very hard on the users of such schemes.

By coming here for advice, you have had a lucky escape.

[northernladuk]

Actually.. Here is one get you going
https://www.google.co.uk/search?q=be...ntractoruk.com

[northernladuk]

Go with Contractor Umbrella. The boss posts in here regularly and is helping us fight HMRC

Avoid everyone else. I cant be bothered to go in to the detail yet again but don't you think 90% take home is a bit too good to be true.

Go to the top of the Welcome/FAQ section. There is a method of searching the forums there. Use that to search the names you found and why should should run away quickly.

[marcpunter85]

Hi All,

I am new to contracting and about to start my first assignment on 02/11, and need to register with an umbrella company. I will be looking to set up my own limited company however in the mean time I need to go through an umbrella company.

There are so many around, that I'm not sure which one to go for. I'm looking for high retention with good service and quick payment.

The following are one's I've found which appear to be quite good and wanted to see if anyone else has heard of them?

Contractor Solutions - They state that on provision of an approved timesheet they will make payment straight away without waiting for payment from the agency

One Consultant - time sheets and expenses are submitted online, which can be done via a phone app

Contractor Angel - Claims that retention is 85%,

Best-Pay - Claims that retention is highest and can be up to 90%

Those are the initial companies I've found.

I would really appreciate some advice, recommendations and who to avoid?

Thanks in Advanced

Mark