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Difficulty choosing Umbrella from PSL

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    Difficulty choosing Umbrella from PSL

    I'm trying to choose a brolly for a new assignment that's been deemed Umbrella only, I'd ideally use Contractor Umbrella, but they are not on the PSL. I've asked if an exception can be made and been told 'probably not' but awaiting confirmation.

    As it stands I have to choose from:

    - Exchequer Solutions
    - Paystream
    - Focused Consulting
    - Sterling Solutions
    - KPPES
    - Green Lantern
    - Crest Plus
    - NWM Solutions
    - Clipper
    - Giant
    - 360 Worldwide
    - JSA Services
    - Orange Genie
    - Danbro
    - Parasol
    - FPS

    I haven't heard of most of these and it's been quite hard going reviews etc of them. Does anyone have any insights on/experience with any of these?

    #2
    Originally posted by castroneves View Post
    I'm trying to choose a brolly for a new assignment that's been deemed Umbrella only, I'd ideally use Contractor Umbrella, but they are not on the PSL. I've asked if an exception can be made and been told 'probably not' but awaiting confirmation.

    As it stands I have to choose from:

    - Exchequer Solutions
    - Paystream
    - Focused Consulting
    - Sterling Solutions
    - KPPES
    - Green Lantern
    - Crest Plus
    - NWM Solutions
    - Clipper
    - Giant
    - 360 Worldwide
    - JSA Services
    - Orange Genie
    - Danbro
    - Parasol
    - FPS

    I haven't heard of most of these and it's been quite hard going reviews etc of them. Does anyone have any insights on/experience with any of these?
    All of them should give you about the same money. Check if any will allow you to pay into your SIPP as salary sacrifice therefore saving on Employer and Employees NI along with PAYE.

    I have just started with Paystream, "just" as in started this month and only had a couple of weekly payslips. Found them fairly straightforward to join as for payments, money reaches the back account the same day it would if the agency had paid my LTD directly. They also allow SIPP payments as salary sacrifice.

    Comment


      #3
      Originally posted by castroneves View Post
      I haven't heard of most of these and it's been quite hard going reviews etc of them. Does anyone have any insights on/experience with any of these?
      Pick up the phone and make sure they can explain it all, it's a lot easier to make a decision based on a conversation

      Comment


        #4
        Originally posted by Acme Thunderer View Post
        All of them should give you about the same money. Check if any will allow you to pay into your SIPP as salary sacrifice therefore saving on Employer and Employees NI along with PAYE.

        I have just started with Paystream, "just" as in started this month and only had a couple of weekly payslips. Found them fairly straightforward to join as for payments, money reaches the back account the same day it would if the agency had paid my LTD directly. They also allow SIPP payments as salary sacrifice.
        Thanks!, this is really helpful

        Comment


          #5
          Umbrella Recommendations

          Simple question. Help appreciated.

          Are there any FCSA approved umbrella companies that offer tax planning and optimisation over and above the standard PAYE arrangements, for a very short-term contract?

          Any recommendations appreciated.

          Well aware of some of the opinions on the above - looking for a recommendation rather than a debate

          Many thanks!

          Comment


            #6
            Originally posted by WavyDavy View Post
            Simple question. Help appreciated.

            Are there any FCSA approved umbrella companies that offer tax planning and optimisation over and above the standard PAYE arrangements, for a very short-term contract?

            Any recommendations appreciated.

            Well aware of some of the opinions on the above - looking for a recommendation rather than a debate

            Many thanks!
            For a short term contract it isn't worth their while - their job is to pay you...
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by WavyDavy View Post
              Simple question. Help appreciated.

              Are there any FCSA approved umbrella companies that offer tax planning and optimisation over and above the standard PAYE arrangements, for a very short-term contract?

              Any recommendations appreciated.

              Well aware of some of the opinions on the above - looking for a recommendation rather than a debate

              Many thanks!
              Simple answer. No.

              Comment


                #8
                Originally posted by VelcroPower View Post
                Originally posted by WavyDavy View Post
                Simple question. Help appreciated.

                Are there any FCSA approved umbrella companies that offer tax planning and optimisation over and above the standard PAYE arrangements, for a very short-term contract?

                Any recommendations appreciated.

                Well aware of some of the opinions on the above - looking for a recommendation rather than a debate

                Many thanks!
                Simple answer. No.
                The slightly more complicated answer is "maybe". BUT... the only scope that they have -- or at least that the legitimate umbrella companies have -- is to let you lump cash into your pension. This will reduce your tax liability, but you won't be able to spend the money until you retire.

                HTH.
                ---

                Former member of IPSE.


                ---
                Many a mickle makes a muckle.

                ---

                Comment


                  #9
                  Originally posted by WavyDavy View Post
                  Simple question. Help appreciated.

                  Are there any FCSA approved umbrella companies that offer tax planning and optimisation over and above the standard PAYE arrangements, for a very short-term contract?

                  Any recommendations appreciated..

                  Well aware of some of the opinions on the above - looking for a recommendation rather than a debate

                  Many thanks!
                  I very much doubt they will give financial advice for obvious reasons. They can give you facts but that's it.
                  'CUK forum personality of 2011 - Winner - Yes really!!!!

                  Comment


                    #10
                    Originally posted by WavyDavy View Post
                    Simple question. Help appreciated.

                    Are there any FCSA approved umbrella companies that offer tax planning and optimisation over and above the standard PAYE arrangements, for a very short-term contract?

                    Any recommendations appreciated.

                    Well aware of some of the opinions on the above - looking for a recommendation rather than a debate

                    Many thanks!
                    Actually based on conversations I'm currently part of.

                    Just Don't

                    Just work out YOURSELF what you need to live on, what you can afford to put into your pension and find one that does salary sacrifice.

                    And ensure everything that isn't going into your pension is paid to you via PAYE in a single payment with a separate payslip that shows exactly where every penny went (
                    umbrella company,Pension, HMRC, your bank account).

                    merely at clientco for the entertainment

                    Comment

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