Contractor can choose umbrella?

[lucyclarityumbrella]

when I stated I wanted to use them I was told no not on the list.

[Invisiblehand]

vaguely toying with the idea of us setting up our own umbrella company

What's the verdict?

My firm tried to Shepard me into there new one this morning.

[northernladuk]

What's the verdict?

My firm tried to Shepard me into there new one this morning.

Let's hope there isn't an English test as part of the sign up process.

[Invisiblehand]

Let's hope there isn't an English test as part of the sign up process.

Haha, yeah my bad.

[Maslins]

Sorry, was on holiday last week, and not as hot on checking this part of the forum!

What's the verdict?

Ummm, TBC. Have had a brief discussion with a couple of people, sent one of them a proposal, not heard back yet.

General consensus seems to be it is a bit of a cosy club. Only way to make money is to get a lot of contractors. A fair bit of the umbrella's fee to the contractor ends up getting paid to the agent...and it can be hard to get on an agent's approved list. We wouldn't particularly be looking to do it as a money making thing, at least in the short term. Main goal for us (short term) is trying to retain otherwise happy clients, albeit with a different offering, if they end up with no outside IR35 options post Apr 2020. Who knows what the future will hold, but I half expect an initial OTT reaction from private sector (ie lots pushed to umbrella/permie), then gradual drifting towards more outside IR35 roles being offered.

We certainly don't have the experience or contacts in house to run an umbrella, and I'm not naive enough to just have a go at it (the infamous "how hard can it be"!). So realistically would need to team up with someone else. Finding the right person where it works well for both parties isn't easy.

[Maslins]

Update - looks unlikely we'll be pressing ahead with this. Previous possible biz partner wants to pursue their own thing without us.

Any senior umbrella workers reading this who might be interested in setting something up together, do let me know.

[northernladuk]

I'll do it. You get to work with me 8 hours a day as well. Double bargian.