Choice of Two Umbrella Companies

[Speedbird676]

I have been using Paystream as my umbrella company since January 2021. I recently changed end-client and agency, but was able to continue using Paystream.

However, my end-client have terminated their agreement with my agency and notified us that at our next renewal we will need to transfer to a new agency. The new agency only have a choice of two umbrella companies:

1. Global Challenge Umbrella Services
2. Bishopsgate

Does anybody have any feedback on either?

I have a Salary Sacrifice arrangement set up with Paystream into my SIPP, so I have asked both whether they can continue to support this, but no response yet. So, also interested to know whether anybody has SS with either of these?

[eek]

That's the strangest list I've seen for a while and leaves me asking what agency are they using because that's an incredibly strange set of options.

Bishopsgate are ok

Global Challenge would be on my run a mile from list - for reasons that I can't go into due to NDAs.

[Speedbird676]

Not the best list I've seen!

That's a shame as Global Challenge have come back saying they can do SS into my SIPP whereas Bishopsgate cannot.

[northernladuk]

Have you asked them why there are only two and that there are much better options out there than both of those? Surely if the agents are putting two crap choices forward it's going to be another possible reason a contractor might leave the gig and hit their pocket. That would wake them up a bit wouldn't it?

There are plenty of others that offer kickbacks so if that's the agents main reason for having these on PSL they missing a trick.

[eek]

Have you asked them why there are only two and that there are much better options out there than both of those? Surely if the agents are putting two crap choices forward it's going to be another possible reason a contractor might leave the gig and hit their pocket. That would wake them up a bit wouldn't it?

There are plenty of others that offer kickbacks so if that's the agents main reason for having these on PSL they missing a trick.

I wouldn't call it 2 crap choices - Bishopgate are actually rather good if you want a straightforward umbrella firm - their biggest weakness is the lack of Salary Sacrifice into a pension (because they are a mass operator). Global is however a weird choice.

But I really don't see what any agency gains by having just 2 umbrellas on the PSL. I would suggest to the OP that he goes back to the agency and asks whether there is any chance other umbrellas could get on the PSL. Then pass the name of the agency to Lucy at Clarity and see what she can do.

And yes I know Clarity isn't the umbrella you previously used but I will only personally recommend umbrellas I would trust and know would pass a proper assessment and that seriously reduces the options.

[Speedbird676]

Have you asked them why there are only two and that there are much better options out there than both of those? Surely if the agents are putting two crap choices forward it's going to be another possible reason a contractor might leave the gig and hit their pocket. That would wake them up a bit wouldn't it?

There are plenty of others that offer kickbacks so if that's the agents main reason for having these on PSL they missing a trick.

I will be, but wanted to do my due diligence on the two on offer first.

[Speedbird676]

I wouldn't call it 2 crap choices - Bishopgate are actually rather good if you want a straightforward umbrella firm - their biggest weakness is the lack of Salary Sacrifice into a pension (because they are a mass operator). Global is however a weird choice.

But I really don't see what any agency gains by having just 2 umbrellas on the PSL. I would suggest to the OP that he goes back to the agency and asks whether there is any chance other umbrellas could get on the PSL. Then pass the name of the agency to Lucy at Clarity and see what she can do.

And yes I know Clarity isn't the umbrella you previously used but I will only personally recommend umbrellas I would trust and know would pass a proper assessment and that seriously reduces the options.

My preference would be to stay with Paystream, mainly as I have everything already set up with them and haven't had any issues in the two years I've been using them, but will mention Clarity as well as an alternative.

[Speedbird676]

Just coming back with an update.

The agency have agreed for me to continue using Paystream. I have also put Lucy from Clarity in touch with them.