Originally posted by webberg
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Reply to: Umbrella Companies
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Previously on "Umbrella Companies"
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Umbrella companies can be quite creative in how they quote.
Any take home rate above 70% should be carefully examined.
Look out for:
High levels of expenses take up which are unacheivable.
High levels of salary sacrifice type arrangements, swapping real money for vouchers etc.
Too many days working
Also look out for umbrellas charging employer NIC on every £ and ignoring the fact that the first £8k or so is in fact NIC free.
Look to those with experience who have seen and understand the market.
Lucy at Clarity is one such and as the name suggests, will be clear.
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Originally posted by oldbond1 View PostHi
Appears I will have to go umbrella, just wanted some advice on who to avoid, got a few quotes, one company claiming an 84% pay out, I have heard anything over 80 is most likely not HMRC compliant, don't want any stress with them gottten into enough trouble already
Pick up the phone and speak to any you are considering, make sure they can answer any of your queries.
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There's very little to choose between most compliant Umbrella companies, in terms of actual take-home pay. PAYE is PAYE. Anyone quoting much bigger £££ each month is either fiddling their assumptions (you mean you don't work 365 days a year?!) or doing something dodgy. The only real difference in take-home pay will be down to their fees, so if you really want to get every last penny then go for the one with the lowest fees.
Personally if I was going to go Umbrella I would ignore the fee level (unless manifestly out of line with the market) and go for a provider that appears to be well-established, professional and approachable. You could look at accreditations such as FCSA if you like, although not all the good Umbrellas are members. You might also consider how flexible they are in terms of pension contributions, if that matters to you.
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You are right in your thinking. Tons about this in this part of the forums. Check the stickies and check some of the posts.
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Umbrella Companies
Hi
Appears I will have to go umbrella, just wanted some advice on who to avoid, got a few quotes, one company claiming an 84% pay out, I have heard anything over 80 is most likely not HMRC compliant, don't want any stress with them gottten into enough trouble alreadyTags: None
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