Whats the Future for the Umbrella Companies ? (Loss of T&S)

[Yonmons]

With the loss of T&S from April next year what is the future for the brolly ? I already got an email from my brolly Paystream last night over this, with an attached survey, basically concluding with have I ever considered a PSC ?

IMHO I am riding this gig out I am working on until April, then thats me, the only reason TBH I took the role and used a brolly was I could claim my T&S, as a "veteran contractor" (if there is such a thing) the brolly suited my purpose at the time. The days may well be at an end of them being viable for most contractors.

[Waldorf]

They don't have a future!

Some, because they have no idea, will use them but essentially they will be paying £1,000 a year just for them to process the payslip.

If I was a client, and a PSC is not an option, I would go direct with the agency.

[LisaContractorUmbrella]

Brollies existed before T&S was allowable so there's no reason why they shouldn't continue to exist after the new legislation is brought in - people use them because it's a lot less hassle and responsibility than running a PSC. The only thing I think we will see is a shift in the business model so that what will end up being on offer is employed for tax purposes but not for employment purposes

[Waldorf]

Brollies did exist but they were hardly used and not covering the tens of thousands of clients there are now, neither did they cover lower paid workers such as farm workers, construction etc.

[LisaContractorUmbrella]

Brollies did exist but they were hardly used and not covering the tens of thousands of clients there are now, neither did they cover lower paid workers such as farm workers, construction etc.

True. If they'd stuck to high end IT contractors we wouldn't be where we are now with all this