Anybody heard of prime umbrella

[lucyclarityumbrella]

I think those down the lower pay level are just treated with contempt they will just hire others who are willing to do the work for that pay.

I think this just highlights that hmrc want companies to move away from contractors and take on permanent staff and pay their tax Ni but ask that will happen is that they will just pass it on to the contractor but thru an umbrella, if the government really wanted fair play they would discourage the use of umbrella companies.

Going back to prime umbrella unfortunately most staff will choose the one with higher take home pay.

Unfortunately umbrella companies were never designed for those down the lower pay level; they were used as an alternative to running a Ltd company. Changes to legislation has ended up forcing those individuals down the umbrella route when it was probably never applicable.

As for opting for the higher take home, eventually it will end up costing them more when (and not IF) they are caught by HMRC and end up with fines and unpaid taxes that will be clawed back. It will be one very costly mistake for those individuals.

[Markus625]

Thanks Markus625.

Just what I thought. Some agencies/clients are being too cautious (to their own detriment), and instead they should be assessing all contractors individually and if some are found inside-IR35 then they should be negotiating higher rates with the contractor to not lose good talent.


Thanks

Zeeshan

I think those down the lower pay level are just treated with contempt they will just hire others who are willing to do the work for that pay.

I think this just highlights that hmrc want companies to move away from contractors and take on permanent staff and pay their tax Ni but ask that will happen is that they will just pass it on to the contractor but thru an umbrella, if the government really wanted fair play they would discourage the use of umbrella companies.

Going back to prime umbrella unfortunately most staff will choose the one with higher take home pay.

[DolanContractorGroup]

I think it would be the employers nic and ensuring we who are inside pay our own tax, ni.
Which would obviously be a cost to her.

I've been a temp worker for 7 years with them and it's a big multinational epos company.

Thanks Markus625.

Just what I thought. Some agencies/clients are being too cautious (to their own detriment), and instead they should be assessing all contractors individually and if some are found inside-IR35 then they should be negotiating higher rates with the contractor to not lose good talent.


Thanks

Zeeshan

[Markus625]

I think it would be the employers nic and ensuring we who are inside pay our own tax, ni.
Which would obviously be a cost to her.

I've been a temp worker for 7 years with them and it's a big multinational epos company.

Hi Markus625,

Can you elaborate on this please? Has the consultant said why she doesn't want to use inside-IR35 ltd companies?

I presume it's because of the Employers NIC liability on the fee payer (agency), but I would be interested to know if it was for another reason.

Thanks


Zeeshan

[DolanContractorGroup]

What I'd also like to point out is that our agency or should I say recruitment consultant is saying she won't be using Ltd contractors as its a cost to her and obviously forcing us down the umbrella route.

Hi Markus625,

Can you elaborate on this please? Has the consultant said why she doesn't want to use inside-IR35 ltd companies?

I presume it's because of the Employers NIC liability on the fee payer (agency), but I would be interested to know if it was for another reason.

Thanks


Zeeshan

[Markus625]

What I'd also like to point out is that our agency or should I say recruitment consultant is saying she won't be using Ltd contractors as its a cost to her and obviously forcing us down the umbrella route.

[cojak]

Now we are beginning to see 1 post punters asking about dodgy umbrellas, in the same way we were hit by dodgy EBT schemes in the 00's.

I always leave them here to show our contempt for such companies. They will go to the effort of sending solicitor's letters to us and we will occasionally comply, but it has cost them money and us nothing for their 'SEO marketing' to go wrong.

[DolanContractorGroup]

Hi guys

I'm Ltd at the moment and my agency is probably going to force us to go umbrella when these new hmrc off payroll legislation kick in.

She has suggested we go with what she calls a payroll company called Prime UK solutions which is basically a umbrella company as far as I can see.


Following on from our conversation, the calculations below shows the amount you would take home when operating through the Umbrella Company.


£100.00 per day (Monday – Friday)=£401.32 after tax & NI

All of the above are assuming standard tax codes and are not saving holiday pay up.

I dont see how they come up with this £401 as other umbrella companies has said around £365 - £375

I cant tell if its fsca regestered.

Hi Markus625,

That take home figure is quite high. They must be doing something else because as Lucy pointed out, the correct figure should be £364.25 per week.

To find FCSA Accredited companies, go here: FCSA Members

Does that include mandatory pension ?


Sent from my iPhone using Contractor UK Forum

Hi GhostofTarbera,

The weekly take home figure of £364 would be if the contractor is opted out of the pension scheme.


Kind regards

Zeeshan

[lucyclarityumbrella]

I can't see any legal basis for enforcing a particular one.

Not legal no, but happens a lot

[lucyclarityumbrella]

Does that include mandatory pension ?

That's without pension

[GhostofTarbera]

Me neither - should be around £364.00 - unless they are charging absolutely nothing as a margin and adding expenses.

Does that include mandatory pension ?


Sent from my iPhone using Contractor UK Forum

[lucyclarityumbrella]

I dont see how they come up with this £401 as other umbrella companies has said around £365 - £375

Me neither - should be around £364.00 - unless they are charging absolutely nothing as a margin and adding expenses.

[ladymuck]

Hi guys

I'm Ltd at the moment and my agency is probably going to force us to go umbrella when these new hmrc off payroll legislation kick in.

She has suggested we go with what she calls a payroll company called Prime UK solutions which is basically a umbrella company as far as I can see.


Following on from our conversation, the calculations below shows the amount you would take home when operating through the Umbrella Company.


£100.00 per day (Monday – Friday)=£401.32 after tax & NI

All of the above are assuming standard tax codes and are not saving holiday pay up.

I dont see how they come up with this £401 as other umbrella companies has said around £365 - £375

I cant tell if its fsca regestered.

The FCSA bit is easy. If they're listed on the FCSA website, they are registered. Simple.

Is it a recommendation or a requirement? You can tell them you will be using your own umbrella, if that is absolutely necessary, I can't see any legal basis for enforcing a particular one.

[Markus625]

Hi guys

I'm Ltd at the moment and my agency is probably going to force us to go umbrella when these new hmrc off payroll legislation kick in.

She has suggested we go with what she calls a payroll company called Prime UK solutions which is basically a umbrella company as far as I can see.


Following on from our conversation, the calculations below shows the amount you would take home when operating through the Umbrella Company.


£100.00 per day (Monday – Friday)=£401.32 after tax & NI

All of the above are assuming standard tax codes and are not saving holiday pay up.

I dont see how they come up with this £401 as other umbrella companies has said around £365 - £375

I cant tell if its fsca regestered.