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Can I contribute to SIPP via umbrella company?

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    Can I contribute to SIPP via umbrella company?

    Hi All, I have started contracting for a new client under IR35 and I choose Paystream Umbrella company based on some recommendations.

    I wanted to start a SIPP with a Vanguard, I wanted to know if Paystream(or any other umbrella company in fact) do a direct debit from my payments into SIPP providers like Vanguard.

    As I am new to this IR35/Umbrella world, any advice would be really helpful.

    Thanks!

    #2
    Surely the best way to find out would be to ask Paystream? Each Umbrella has different levels of flexibility on what they can do, and that can depend on who your SIPP provider is.

    Comment


      #3
      +1 - ask the umbrella firm, we cannot second guess what the policy of an umbrella currently is and every umbrella will be different.

      I doubt any umbrella will allow direct debits though as that adds level of risk no umbrella will accept...
      merely at clientco for the entertainment

      Comment


        #4
        Paystream will pay into a SIPP, yes. Not via Direct Debit though - you'll need to provide them instructions of a bank account, and they "manually" send the payment each month

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          #5
          Originally posted by vwdan View Post
          Paystream will pay into a SIPP, yes. Not via Direct Debit though - you'll need to provide them instructions of a bank account, and they "manually" send the payment each month
          The question was whether they pay into a Vanguard SIPP. Can you confirm that, or that Paystream will pay into *any* SIPP?

          Comment


            #6
            Originally posted by Paralytic View Post

            The question was whether they pay into a Vanguard SIPP. Can you confirm that, or that Paystream will pay into *any* SIPP?
            Also maybe consider a % of each weekly/monthly invoice, that's what I've done to cover time off and in between contracts.
            But I discovered nothing else but depraved, excessive superstition. Pliny the younger

            Comment


              #7
              Originally posted by Paralytic View Post

              The question was whether they pay into a Vanguard SIPP. Can you confirm that, or that Paystream will pay into *any* SIPP?
              Yes, I was with them. They have a form where you can simply give free form details of your SIPP, the bank account, and reference number etc.

              I think they required some provider details to make sure it was legit, but there's no "approved list" or anything. It's actually why I chose them over Clarity

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                #8
                The question was whether they pay into a Vanguard SIPP. Can you confirm that, or that Paystream will pay into *any* SIPP?
                Vanguard don't allow employers contributions unless they're from you're own Ltd Company.

                Comment


                  #9
                  Originally posted by vwdan View Post

                  Yes, I was with them. They have a form where you can simply give free form details of your SIPP, the bank account, and reference number etc.

                  I think they required some provider details to make sure it was legit, but there's no "approved list" or anything. It's actually why I chose them over Clarity
                  So you paid into a Vanguard SIPP? If not, you've still not given any additional information to the OP, and based on Whitelime's response, might actually have provided misleading information.

                  Comment


                    #10
                    Contracting via umbrella is still only a short term gig. There is the chance after you might get outside or be forced to use another umbrella. It's not the end of the world if you can't pay in to your preferred SIPP. Just pick a brolly that pays in to a SIPP which is acceptable and then when you are done move the SIPP to your preferred provider.
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

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