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Everything you ever wanted to know about umbrella companies but were afraid to ask...

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    #61
    Ooooh look - 90% take home too. w ww.paraffingroup.co.uk/umbrella - Umbrella Company | The Paraffin Group | Umbrella & Limited Company Set Up | The Paraffin Group | Umbrella Company | PAYE | Limited Company

    I would be concerned that the website talks about IR35 having been in existence for 9 years, that being the number of years since 2000 apparently, and that S660a is "draft" legislation. Slightly outdated I think. w ww.paraffingroup.co.uk/fqs/ - FAQ's | The Paraffin Group | Umbrella Company | PAYE | Limited Company
    ContractorUK Best Forum Adviser 2013

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      #62
      Originally posted by Clare@InTouch View Post
      Ooooh look - 90% take home too.
      In that case let me introduce you to HMRC Enquiry letters on Loans from EBT and other schemes
      "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
      - Voltaire/Benjamin Franklin/Anne Frank...

      Comment


        #63
        Originally posted by Clare@InTouch View Post
        Ooooh look - 90% take home too. w ww.paraffingroup.co.uk/umbrella - Umbrella Company | The Paraffin Group | Umbrella & Limited Company Set Up | The Paraffin Group | Umbrella Company | PAYE | Limited Company

        I would be concerned that the website talks about IR35 having been in existence for 9 years, that being the number of years since 2000 apparently, and that S660a is "draft" legislation. Slightly outdated I think. w ww.paraffingroup.co.uk/fqs/ - FAQ's | The Paraffin Group | Umbrella Company | PAYE | Limited Company
        And the fact they state "All your Tax and NIC's will be dealt with by Paraffin and paid automatically just like PAYE." Hmmm just like??? Surely as a "compliant" PAYE Umbrella it is just PAYE?

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          #64
          Strange looking site

          I've just come across this thread and I checked these guys out.....when you click on 'about us' it takes you to a Wordpress login. I'll be surprised if these guys have any customers. There are quite a lot of cowboys out there it would seem!!

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            #65
            Originally posted by ssamford View Post
            I've just come across this thread and I checked these guys out.....when you click on 'about us' it takes you to a Wordpress login. I'll be surprised if these guys have any customers. There are quite a lot of cowboys out there it would seem!!
            You're not wrong there ssamford
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            ContractorUK Best Forum Advisor 2015

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              #66
              Tell me about it, thankfully there are plenty of good guys around too

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                #67
                Umbrella vs limited company

                Thank you for the info on umbrella companies, all a little confusing. What would be the best route? Umbrella or setting up my own LTD?

                Thanks in advance

                Comment


                  #68
                  Originally posted by Newcontractor2015 View Post
                  Thank you for the info on umbrella companies, all a little confusing. What would be the best route? Umbrella or setting up my own LTD?

                  Thanks in advance
                  Is this your first time contracting?
                  If you have a contract do you think you're likely to be inside or outside IR35?
                  Do you understand the responsibilities you will have as a company director?
                  Do you understand how an umbrella company works?
                  Are you good at managing money?
                  Did you feel secure in permanent employment and don't want to lose that feeling of security?
                  Do you want to move away from permanent employment and run and build your own business?
                  Connect with me on LinkedIn

                  Follow us on Twitter.

                  ContractorUK Best Forum Advisor 2015

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                    #69
                    What Umbrella comapny to choose.

                    Hi everyone.

                    I will start as a contractor from the 1st of July for my first time. I am going to choose Umbrella company for starters but I would like to ask you the following.
                    I have spoken with Parasol and they told me about 65% take home. Also, I aksed for TEK umbrella to calculate me the same and they told me nearly 90% take home.
                    So I am skeptical about both of them... What is the safer company to start with according to your experience?

                    Thank you in advance,
                    Giannis

                    Comment


                      #70
                      Originally posted by igoutas View Post
                      Hi everyone.

                      I will start as a contractor from the 1st of July for my first time. I am going to choose Umbrella company for starters but I would like to ask you the following.
                      I have spoken with Parasol and they told me about 65% take home. Also, I aksed for TEK umbrella to calculate me the same and they told me nearly 90% take home.
                      So I am skeptical about both of them... What is the safer company to start with according to your experience?

                      Thank you in advance,
                      Giannis
                      First, read this http://forums.contractoruk.com/hmrc-...following.html

                      Next, read these threads. HMRC Scheme Enquiries

                      Then do your research. This company has been incorporated for just over one year but it is late with it's company accounts.
                      It's registered address is a post-drop with over 20 companies using the same address for their registered premises.

                      Don't go with an umbrella that will drop you in it with the tax man.
                      "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
                      - Voltaire/Benjamin Franklin/Anne Frank...

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