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Parrotpay

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    Parrotpay

    Hi all,

    Just picking up a new contract gig and have been put in touch with Parrotpay as an umbrella. Anyone have any experience of these guys? They appear to offer two methods of payment, one is paying slightly more than the other. High level figures:

    £600/day.

    £1690/week on the regular PAYE scheme
    £1850/week on a slightly different scheme which includes some dividend payments, like a more traditional limited company approach

    Neither figure seems particularly unsafe but I've been bitten by the loan charge and want to make sure I am absolutely whiter than white when coming in to this, hence I'm falling in favour of option 1. Anyone have any experience of these guys? I've done a search but can't find much/anything about them. I also shut down my limited company last year so am concerned that taking dividend payments in this way might open me up to additional tax on the money I took out of my limited company when I closed it down.

    I've asked all of these questions/raised these concerns with the company and am waiting for feedback but just curious if anyone has any insights.

    #2
    Run away - do not pass go - pick someone else.

    Any umbrella that offers anything that isn't full PAYE with (at most) the option of Salary Sacrifice into a pension is playing with fire.

    And you will be burnt.
    merely at clientco for the entertainment

    Comment


      #3
      Originally posted by eek View Post
      Run away - do not pass go - pick someone else.

      Any umbrella that offers anything that isn't full PAYE with (at most) the option of Salary Sacrifice into a pension is playing with fire.

      And you will be burnt.
      +1

      And if they offer anything dodgy its probably better to go with a CUK recommended umbrella.

      Comment


        #4
        I'm inclined to agree - Just wanted some opinions because it's not like they were offering 90% take home or anything daft.

        I'll keep things nice and simple, it's not like I can't live on the first figure.

        Comment


          #5
          I worked via an umbrella company once at £600/day and I was netting £1650 a week so at least the first number you wrote sounds legit.

          Never heard of parrotpay so I'd be very careful if I was you.

          Comment


            #6
            Are they FCSA registered/compliant? It'd be interesting to see how they wangled that. Maybe for a bigger fee they get to buy a certificate that covers the legit PAYE side and ignores the dodgy scheme.

            Comment


              #7
              Originally posted by ladymuck View Post
              Are they FCSA registered/compliant? It'd be interesting to see how they wangled that. Maybe for a bigger fee they get to buy a certificate that covers the legit PAYE side and ignores the dodgy scheme.
              Unsurprisingly it's Professional Passport "approved" - it's cheaper and easier to pass than FCSA and doesn't have the old mates requirement.

              I've got to the point now where I see that logo and think what scheme are they running - every Professional Passport umbrella I've seen in the past few months is as dodgy as f****
              merely at clientco for the entertainment

              Comment


                #8
                Originally posted by Gaskie View Post
                Hi all,

                Just picking up a new contract gig and have been put in touch with Parrotpay as an umbrella.
                Before we go any further.. You say you've been put in touch... I am assuming by the agent. If this is the case NEVER take their recommendation. They are on kickbacks and nothing more. If you have the option to chose from a list or have free reign to go get your own then do that. Put some legwork in to investigate and find the option that suits you, particularly with so many different pension arrangements being run by the brollies.

                If you don't have the time or inclination then just go to Clarity Umbrella. Lucy posts on here and some of us, including myself, have been with her before and she does the job properly.
                'CUK forum personality of 2011 - Winner - Yes really!!!!

                Comment


                  #9
                  they're just one year old, and the sole owner is a 24 year old. The company is worth exactly £1.
                  That's just 5 minutes of due diligence to find that out. without even seeing what their actual offer is.
                  Run away on that basis alone. What if they go bust when they own you money?

                  Is this the new 'scheme'? Make it look legit by taking 40% of your money rather than 10%, but still just as dodgy.
                  See You Next Tuesday

                  Comment


                    #10
                    Originally posted by ladymuck View Post
                    Are they FCSA registered/compliant? It'd be interesting to see how they wangled that. Maybe for a bigger fee they get to buy a certificate that covers the legit PAYE side and ignores the dodgy scheme.
                    Even that isn't a given. I believe there are some poor options that are FCSA approved and there are many very good setups that FCSA have managed to exclude from a quality umbrella list.

                    They wangled it by paying a five figure sum to buy in to the big boys club. I wouldn't take anything else from it personally.
                    Last edited by northernladuk; 10 February 2021, 14:02.
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

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