Umbrella fees

[Waldorf]

Probably because it means that they have to hang onto the contractors money for longer- they probably just want to receive the money and pay it straight back out again.

Anyway, back to the original topic, will fees fall?

If so, who is the cheapest?

They don't hold onto the money longer and even if they did they would benefit from interest earned, albeit not very much.

No, fees will not fall.

[JB3000]

So why do umbrella's do the reverse? An umbrella's decision to charge more for processing a payslip once a month rather than weekly bears no relation to the work involved.

It doesn't take longer to calculate the PAYE etc on a £4,000 payslip as it does on one for £1,000.

There is no justification for this two tier pricing structure but as they all appear to do it you have no choice.

Probably because it means that they have to hang onto the contractors money for longer- they probably just want to receive the money and pay it straight back out again.

Anyway, back to the original topic, will fees fall?

If so, who is the cheapest?

[Waldorf]

TfL offer cheaper tickets if you buy monthly rather than weekly- it is called a discount for buying in bulk.

So why do umbrella's do the reverse? An umbrella's decision to charge more for processing a payslip once a month rather than weekly bears no relation to the work involved.

It doesn't take longer to calculate the PAYE etc on a £4,000 payslip as it does on one for £1,000.

There is no justification for this two tier pricing structure but as they all appear to do it you have no choice.

[JB3000]

What makes you think that?

A better question is why do they charge say £25-£30 for each payslip if you are paid weekly and £100-£120 if paid monthly? There is no more work in calculating a larger number, so if they can process a payslip for £30, why is this not the monthly fee?

The answer of course, is that they want to make a bigger profit.

The price will go down as they will not need to employ as many people to check the date, time, character and amount of every single receipt submitted.

TfL offer cheaper tickets if you buy monthly rather than weekly- it is called a discount for buying in bulk.

Umbrella fees should now be slashed accordingly as there will be less work involved regardless of weekly or monthly payments.

[Waldorf]

Will umbrella company fees now be slashed as we now won't be able to claim expenses?

Who is now the cheapest out there?

What makes you think that?

A better question is why do they charge say £25-£30 for each payslip if you are paid weekly and £100-£120 if paid monthly? There is no more work in calculating a larger number, so if they can process a payslip for £30, why is this not the monthly fee?

The answer of course, is that they want to make a bigger profit.

[JB3000]

Will umbrella company fees now be slashed as we now won't be able to claim expenses?

Who is now the cheapest out there?