Reply to: Umbrella choice advice please

[cojak]

I drew a similar conclusion but thought possibly misread the option. The agent repeated the list and added Focused Consulting to the list of restricted Umbrellas.

Hmmm. I would be very suspicious of any ‘umbrella’ that requires a phone call to explain what your take home would be, a proper umbrella’s explanation is straightforward and usually available on the website via a calculator.

I would use Paystream if I were you.

[Plot72]

Makes for interesting reading
The last one on the list states this on their site, so not even sure if they are actually an umbrella:
"The Pytronot team are able to run your whole recruitment payroll administration for all your clients, regardless of the type of business they own. We work with umbrella companies, limited companies and PAYE contractors across the entirety of the United Kingdom."
Nice bit of due diligence there

I drew a similar conclusion but thought possibly misread the option. The agent repeated the list and added Focused Consulting to the list of restricted Umbrellas.

[coder]

Hi

I've not used any of the above but it was mentioned in another thread that paystream allow u to pay into a sipp for £2.60 a week which would allow u to use your existing pension

[Greenjuicesmoothie]

I can’t imagine that end clients care about which umbrella and they leave that to the agency to sort out.
I would assume agencies are looking to resolve the loss of income through ir35 etc by forcing an umbrella chosen by them so they can agree an improved margin in the chain at the various stages .No idea just a guess.


Sent from my iPhone using Tapatalk

I suspect that too.

[lucyclarityumbrella]

I can’t imagine that end clients care about which umbrella and they leave that to the agency to sort out.
I would assume agencies are looking to resolve the loss of income through ir35 etc by forcing an umbrella chosen by them so they can agree an improved margin in the chain at the various stages .No idea just a guess.

End clients should care, especially if the liabilities falls on them at any point My guess if that IR35 isn't going to actually cause any financial loss to the agency (I could be wrong) but they are not the ones that are having to account for any additional taxes, unless they are taking a cut in their percentage to assist covering those costs for the contractor, or the end client is cutting their percentage to up the contract rate.

[TheInvoicer]

I can’t imagine that end clients care about which umbrella and they leave that to the agency to sort out.
I would assume agencies are looking to resolve the loss of income through ir35 etc by forcing an umbrella chosen by them so they can agree an improved margin in the chain at the various stages .No idea just a guess.


Sent from my iPhone using Tapatalk

[lucyclarityumbrella]

1. Focused Consulting Umbrella.
2. Paystream
3. PayMe
4. Pyntronot Payroll

Makes for interesting reading
The last one on the list states this on their site, so not even sure if they are actually an umbrella:
"The Pytronot team are able to run your whole recruitment payroll administration for all your clients, regardless of the type of business they own. We work with umbrella companies, limited companies and PAYE contractors across the entirety of the United Kingdom."
Nice bit of due diligence there

[ladymuck]

Always worth asking if the list is a true PSL that has to be adhered to, or just a suggestion for people who don't have an umbrella in place

[gables]

Are you saying you have to pick from that list or that they just suggest a few they get backhanders through? I personally would pick one independently. I don't think that they can make you use one of their preferred list.

Of course they can, just like companies\organisations can have preferred supplier lists.

[northernladuk]

Are you saying you have to pick from that list or that they just suggest a few they get backhanders through? I personally would pick one independently. I don't think that they can make you use one of their preferred list.

What makes you think that?

Many companies have preferred suppliers lists that they've spent time and money vetting and aren't very flexible when it comes to putting new suppliers on. Why is this any different..

And then there are the referral deals of course...

[BigRed]

Are you saying you have to pick from that list or that they just suggest a few they get backhanders through? I personally would pick one independently. I don't think that they can make you use one of their preferred list.

[Plot72]

From that list I've been with Paystream (none of the others) for last two contracts (18 months and 4 months and the only times I've used an umbrella) and have had great service from them. If you're able to go with one not on the list I'd suggest Lucy@Clarity.

Fantastic, thank you for this refining advice. I've requested Lucy but expect the option will focus towards Paystream as an Umbrella of choice/

[Plot72]

Hi Plot72,

I'm not sure what the criteria is for using those umbrella companies, or how they are ranked on the website, but if you want peace of mind then I would go with one of the FCSA Accredited umbrella companies.

FCSA Members


Thanks

Zeeshan

Thank you so much for the great link, the list is now reduced by 50%. Seems a great accreditation system to weed out some of the sharks of a few years ago.

[gables]

I've just picked up a contract which offers few Umbrellas and unsure which to deal with.
Has Anyone positive/encouraging opinions for any of:

1. Focused Consulting Umbrella.
2. Paystream
3. PayMe
4. Pyntronot Payroll

Thanks for any comments/opinions.

From that list I've been with Paystream (none of the others) for last two contracts (18 months and 4 months and the only times I've used an umbrella) and have had great service from them. If you're able to go with one not on the list I'd suggest Lucy@Clarity.

[eek]

I would definitely avoid any list that makes money from advertising.

All legal umbrellas should give you the same pay - the only thing that will differ between them is:-

1) the fee they extract but remember cheaper may not be better.
2) how they handle pension contributions as money can only either be paid to you (and the taxman) or into a pension fund. In theory you can put everything beyond living wage into your pension if you so desire but only Dolan / Contractor Umbrella and Clarity (the people that were Contractor Umbrella before it moved into Dolan's office) offer that as far as I'm aware.