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IR35 post April 2020: Choosing a legitimate Umbrella
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Does anyone know of any umbrella company that allows you to pay into your own SIPP as opposed to using their "default provider scheme". Have tried a few and no luck so far.
Finding this would help with any transition from Ltd Co. to Umbrella.Leave: "To remove oneself from association with or participation in"Comment
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Originally posted by drob1984 View PostDoes anyone know of any umbrella company that allows you to pay into your own SIPP as opposed to using their "default provider scheme". Have tried a few and no luck so far.
Finding this would help with any transition from Ltd Co. to Umbrella.
That said Contractor Umbrella used to allow you to put as much as you want in to their scheme. Once you are done you just transfer it to your SIPP.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by northernladuk View PostNo. They generally don't care about doing anything more than the absolute minimum to meet legislation.
That said Contractor Umbrella used to allow you to put as much as you want in to their scheme. Once you are done you just transfer it to your SIPP.
it was scottish widows IIRC and no transfer fees either.Comment
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As you are the employee of the umbrella company, the pension goes into the Group Pension Scheme, but as others have said, there are companies that will allow transfers at no cost, in which case you just transfer it once your assignment with the umbrella is doneComment
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Originally posted by cojak View PostIf 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: Ask an Umbrella Company - All Umbrella Companies Are Equal
Some companies will offer you the moon on a stick, or 85%+ of your day rate. 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
And for newbies, definitely don't join a company with offices in the Isle of Man or Jersey.
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.)
@cojak that first link doesn't exist anymore
"You can find a selection here: Ask an Umbrella Company - All Umbrella Companies Are Equal"Comment
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Thanks, I’ll remove."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
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Originally posted by CanPayButWouldRatherNot View Post@cojak that first link doesn't exist anymore
"You can find a selection here: Ask an Umbrella Company - All Umbrella Companies Are Equal"
Can I add here that umbrella companies really don't have the money to run expensive advertising campaigns. If you are seeing a lot of adverts for a particular firm really ask yourself how they can afford those adverts.merely at clientco for the entertainmentComment
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