Reply to: Recommendations / Reviews on Umbrella companies

[TheKB]

Don't bother with Giant. I am forced to use them and had problems with my pension payment, it took months to have it paid and then backdated to cover my losses for the Employers Pension. Holiday accrual is under the statutory legal amount as its calculated incorrectly. Holiday pay was denied but then paid. They have changed our agreements 3 times in one year to lower the pension each time to the Qualified Earnings used to protect low income earners (which we are not), and the list goes on. Its one problem after another. Customer support is rubbish. Our client deemed them unsuitable so will see if they get rid of them. Fingers crossed.

[BR14]

The Bike?

the Bore?

[northernladuk]

Strange

For other services Ive always been charged. Didnt think they would be putting this through salary sacrifice.



John

The Bike?

[johnbishop411]

Its salary sacrifice for the service for some reason. Its taken from Gross, but not sure why. Again, not every agency does this. That's why some people say they charge £4 and its actually £6 gross.

One thing to note is that you will automatically be enrolled into a pension scheme e.g. NEST. Its something like 4% of your rate and the agency(Paystream certainly) will offer to put in 3% themselves. This 3% is also from "your" gross rate.

You will get an email welcoming you to NEST after 12 weeks. At this time you have the option to "opt-out". Its up to individuals if they want to do this, but I am(opting-out) because there's no point contributing to NEST if you have a SIPP imho tyor.

Strange

For other services Ive always been charged. Didnt think they would be putting this through salary sacrifice.



John

[BR14]

I have used Giant Group and am having a terriable time, between my agency and Giant I dont know where I am .

Constantly paid late with all sort of excuses

I have to pay around 45% of my salary to cover tax, NI, fees, everytime I asked for clarification I get very long emails or instant messages but no clarity. I feel like I am being robbed weekly, I am quite stressed and thinking of leaving the assignment because I can not cope with the poor service.

I am not sure how people are going to cope post April with these companies set up to earn money off your work. Really terriable.

that's about right, with a brolly PAYE gig.
as for service, if it's terriable<sic> then switch brollies.

[BABABlackSheep]

How does that work? If its a service shouldnt it be taken from net, with vat applied?


John

Its salary sacrifice for the service for some reason. Its taken from Gross, but not sure why. Again, not every agency does this. That's why some people say they charge £4 and its actually £6 gross.

One thing to note is that you will automatically be enrolled into a pension scheme e.g. NEST. Its something like 4% of your rate and the agency(Paystream certainly) will offer to put in 3% themselves. This 3% is also from "your" gross rate.

You will get an email welcoming you to NEST after 12 weeks. At this time you have the option to "opt-out". Its up to individuals if they want to do this, but I am(opting-out) because there's no point contributing to NEST if you have a SIPP imho tyor.

[johnbishop411]

Paystream allow you to make a gross salary sacrifice into a SIPP, most others don't.

They charge you £6 per transaction to cover admin, but this is taken from your gross amount as well.

Making pension contributions from umbrella companies is about the only tax benefit you still get, and my investment style means I want control in a SIPP.

Of course, see what happens in the upcoming budget

How does that work? If its a service shouldnt it be taken from net, with vat applied?


John

[BABABlackSheep]

I’m also in the same situation and been told by Pontoon I must choose one of those 5 Umbrella Companies.
May I ask, why did you favour Paystream over the others!

Paystream allow you to make a gross salary sacrifice into a SIPP, most others don't.

They charge you £6 per transaction to cover admin, but this is taken from your gross amount as well.

Making pension contributions from umbrella companies is about the only tax benefit you still get, and my investment style means I want control in a SIPP.

Of course, see what happens in the upcoming budget

[RandyCowpoke]

It was Pontoon’s list yes. But I’ve now got a contract elsewhere so my list is different.

I’m just looking into my options.

Edited/updated..If I have to go Umbrella then paystream is winning at the moment.

I’m also in the same situation and been told by Pontoon I must choose one of those 5 Umbrella Companies.
May I ask, why did you favour Paystream over the others!

[lucyclarityumbrella]

You don’t have to leave the assignment. Switch umbrella companies.

Just check your notice period first

[MrButton]

I feel like I am being robbed weekly, I am quite stressed and thinking of leaving the assignment because I can not cope with the poor service.

You don’t have to leave the assignment. Switch umbrella companies.

[Paralytic]

I have used Giant Group and am having a terriable time, between my agency and Giant I dont know where I am .

Constantly paid late with all sort of excuses

I have to pay around 45% of my salary to cover tax, NI, fees, everytime I asked for clarification I get very long emails or instant messages but no clarity. I feel like I am being robbed weekly, I am quite stressed and thinking of leaving the assignment because I can not cope with the poor service.

I am not sure how people are going to cope post April with these companies set up to earn money off your work. Really terriable.

Salary?

Simple way to check this. I assume you get a pay slip showing deductions? Put your day rate into one of the other umbrella calculators and compare.

[New Contractor]

Giant Group

Would anyone care to share their experiences, positive or otherwise, with any of the following umbrella companies: Clipper Contracting Group, Crest Plus, Danbro, Exchequer Solutions, Focused, FPS, Giant Group, Green Lantern, Key Portfolio, NWM, Orange Genie, Parasol, PayStream, and finally Sterling Group.

Many thanks.

I have used Giant Group and am having a terriable time, between my agency and Giant I dont know where I am .

Constantly paid late with all sort of excuses

I have to pay around 45% of my salary to cover tax, NI, fees, everytime I asked for clarification I get very long emails or instant messages but no clarity. I feel like I am being robbed weekly, I am quite stressed and thinking of leaving the assignment because I can not cope with the poor service.

I am not sure how people are going to cope post April with these companies set up to earn money off your work. Really terriable.

[ascender]

I'm doing a role for a consulting firm who is delivering some work for a Bank. I've had an outside IR35 contract for the duration of this assignment, but the Bank have now instructed them that they are not allowed to use any PSCs going forward if they want any work with the Bank.

So that's that. I saw it coming, so welcome to umbrella-town.

I'll call around today, but from looking on here, this list doesn't exactly inspire me with confidence.

• • Giant
  • Nasa
  • Orange Genie
  • Paystream

[BABABlackSheep]

Whom did you go with in the end? I am in a similar situation

It was Pontoon’s list yes. But I’ve now got a contract elsewhere so my list is different.

I’m just looking into my options.

Edited/updated..If I have to go Umbrella then paystream is winning at the moment.