Top 10 checklist when choosing an umbrella

[eek]

Hi All
this forum was recommended by a former colleague as I enter the world of IR35 contracts.

This thread has just saved me a massive headache as I had a comparison company suggesting to me towards a Growth Share sShare with a company called Solucionis.

I'll be popping up on a few threads I'm sure, but massive thanks for this thread as a guide to umbrella companies and realistic take home %'s

Which comparison firm as HMRC are currently naming and shaming them (at long last)

But glad to see you didn't fall for their schemes...

[Dazzler21]

Hi All
this forum was recommended by a former colleague as I enter the world of IR35 contracts.

This thread has just saved me a massive headache as I had a comparison company suggesting to me towards a Growth Share sShare with a company called Solucionis.

I'll be popping up on a few threads I'm sure, but massive thanks for this thread as a guide to umbrella companies and realistic take home %'s

[cojak]

And more info here:

Contractor guide to registering with an umbrella company (contractoruk.com)

[cojak]

And here is advice that I’ve just posted elsewhere…

And I’ll just put this here

DO NOT BELIEVE UMBRELLA SALESMEN WHO TELL YOU THAT THEIR OWN SCHEME IS LEGAL!

You research when you buy a car - do the same when you enter a contract of employment.

And as if by magic…

The top 10 umbrella company checklist for contractors

https://www.contractoruk.com/umbrell...ntractors.html

[cojak]

https://www.contractoruk.com/umbrell...ntractors.html

And here is an older but still valid thread regarding choosing a legitimate umbrella.

https://forums.contractoruk.com/umbr...-umbrella.html

If you've come here looking for advice regarding umbrella companies here it is.

Choose a company that complies with HMRC guidelines and current UK legislation*.

You can find a selection here (not perfect but it’s the best we’ve got): FCSA • Members Directory • Accredited Members FCSA

Some companies will offer you the moon on a stick, or 65%+ of your day rate, or a 'unique solution' to IR35. It sounds too good to be true, doesn't it?

That's because it is.

Have a read of this: Don't be fooled by imposter umbrella companies

Because if you join them you will very likely end up here HMRC Scheme Enquiries

Also, have a read of this: https://www.contractoruk.com/forums/...-umbrella.html

And read the contract before you sign!

And then check if the company is in the London Gazette.

And for newbies, definitely don't join a company with offices in the Isle of Man or Jersey (or Directors with any association to IOM, now or in the past).

Just don't.

(*When an umbrella states that they are 'Fully HMRC compliant', ask them what they mean by this - do they mean that they comply with HMRC guidelines? HMRC do not offer compliance reviews and will not 'approve' umbrella companies. Basically they say this just to get you to sign up.)

PS. Growth Share Schemes are definitely NOT legit. https://www.contractoruk.com/forums/...e-schemes.html

More info from HMRC here Spot the signs of tax avoidance - GOV.UK (www.gov.uk)

And here's a tool you can use to check/confirm that you're using a legitimate umbrella:
Do you work through an umbrella company? – Guidance – GOV.UK (tax.service.gov.uk)