Paystream - AVOID

[JB3000]

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I paid 300 for annual insurance and the policy provider is Hiscox, not Paystream. Hence there is no reason stopping coverage of biz even I leave the PS and of couse, it was not advised in a first place when I purchsed it thorugh them. It's an another hassle for director to resource another biz insurance at this point.

This afternoon, I had to make a phone call to the paystream after hearing that they're refused to passing on my company accounting info that requires time to re-register and they did not transfer me to the right person either. After writing an another email, the sales person replied finally.

Yes, I'm definately going to report them to the ACCA and BBC as it's agreed by current accountancy provider, too that this kind of practice is not a standard in its industry and they're ripping off hard earned money.

I hope they at least refund you the £300. Or maybe they are mistaken (won't surprise me), maybe you can still use the insurance. Might be worth contacting Hiscox to see.

I don't think that pay stream can blackmail you like this, i.e. give me the money or you don't get your company's property. This seems highly unprofessional, and definitely worth challenging them on or reporting them. I feel like they are holding you hostage. Good luck with your fight.

Marry in haste, repent at leisure.

[genji7]

I hope they at least refund you the £300. Or maybe they are mistaken (won't surprise me), maybe you can still use the insurance. Might be worth contacting Hiscox to see.

I don't think that pay stream can blackmail you like this, i.e. give me the money or you don't get your company's property. This seems highly unprofessional, and definitely worth challenging them on or reporting them. I feel like they are holding you hostage. Good luck with your fight.

Marry in haste, repent at leisure.

I know, it's unbelievable that this type of ripping off biz still operates under the daylight, shameless company and still no single apologies from the headhunter agent nor from the PS client relationship director who never replied. Stay well away from them to save your hard earned money and time, energy

[CharlieJay]

They Stiffed me too

Just to share my experience with Paystream - in a word, AVOID

They provided illustrated take home pay with higher amt by inserting salary twice then never told me that I'm obliged to stay with them for three months at least nor the insurance policy I purchased through them is tied in with their services meanining that I will not be covered when I leave them.

After seriously dreadful accounting advice - suggesting backdated claim then critising me when I reminded them with their own advice (hilarious) , suggesting weekly salary amt. which is lower than my expenses etc.. all extreamly poor exercises, I've decided to switch since their fee is top end in the market �120 +VAT for nothing , then they sent me the screenshot capture of tick box area where small print of T&C stating this ridiculous three months staying rule.
Then insisted I accept T&C therefore it's my director's liability to pay them for three months fee.

Since the stage of accpting T&C is even not accessable now (it was only registration stage), surely, it's not the first time they've done this to the hard working contractors.

I'm considering sending this story to the BBC Watchdog as well as financial ombusman for small print T&C victims.

Any experience with them? Btw, I was with them as my job agent, Consultancy group introduced this as a part of biz package so surely he got his commission out of this and disappointed that he did not mentioned this either when I was singed in.

Does anyone dealt with Consultancy group, too? What was experience with them?

I joined them only due to necessity (made redundant-thanks brextulip) took a temporary contract as umbrella, they kept on calling and mailing me with grand illustrations of riches if I became Ltd. I refused but they went ahead against my wishes or without my express consent (I stayed Umbrella) anyway, having now got a permanent job and left their slimy clutches five weeks ago I'm now hit with a £600 debt collection notice from them for 'my' Ltd company!

[Craig@Clarity]

I joined them only due to necessity (made redundant-thanks brextulip) took a temporary contract as umbrella, they kept on calling and mailing me with grand illustrations of riches if I became Ltd. I refused but they went ahead against my wishes or without my express consent (I stayed Umbrella) anyway, having now got a permanent job and left their slimy clutches five weeks ago I'm now hit with a £600 debt collection notice from them for 'my' Ltd company!

Did you sign any terms of engagement? If not, and you outright refused to go limited, then I can't see how they can enforce the debt. When they set up the limited company "on your behalf", they would have ticked the box to say that they agree to the 'Consent to Act' statement on behalf of the director. You'd also have been written to by Companies House to notify you that you're a director. If you didn't consent to act, I'd apply to have the notification of the appointment to be removed with Companies House and the public record.

[fairy081]

OUTCOME????

Just to share my experience with Paystream - in a word, AVOID

They provided illustrated take home pay with higher amt by inserting salary twice then never told me that I'm obliged to stay with them for three months at least nor the insurance policy I purchased through them is tied in with their services meanining that I will not be covered when I leave them.

After seriously dreadful accounting advice - suggesting backdated claim then critising me when I reminded them with their own advice (hilarious) , suggesting weekly salary amt. which is lower than my expenses etc.. all extreamly poor exercises, I've decided to switch since their fee is top end in the market £120 +VAT for nothing , then they sent me the screenshot capture of tick box area where small print of T&C stating this ridiculous three months staying rule.
Then insisted I accept T&C therefore it's my director's liability to pay them for three months fee.

Since the stage of accpting T&C is even not accessable now (it was only registration stage), surely, it's not the first time they've done this to the hard working contractors.

I'm considering sending this story to the BBC Watchdog as well as financial ombusman for small print T&C victims.

Any experience with them? Btw, I was with them as my job agent, Consultancy group introduced this as a part of biz package so surely he got his commission out of this and disappointed that he did not mentioned this either when I was singed in.

Does anyone dealt with Consultancy group, too? What was experience with them?

Hi,

I have a similar issue with this company, conned me into signing into their clause for 3 month.. etc

Did you get an outcome at all?? Did you get charged for 3 months?
I have complained and said i do not want to pay them for 3 months

[ascender]

Just a query about Paystream... I have emailed them about it but thought I’d ask on here too as I’m sure this has come up before.

On my weekly payslips, my income is broken down in to Basic Pay, Commission and Holiday Pay. 75% of this is against commission so I was just wondering why they’ve done that?

Apart from anything else, I’m assuming this is going to render payslips pointless if I ever need proof of income because the basic pay accounts for about 15% of the amount. I’m assuming its for tax reasons which is also making me nervous....

[eek]

Just a query about Paystream... I have emailed them about it but thought I’d ask on here too as I’m sure this has come up before.

On my weekly payslips, my income is broken down in to Basic Pay, Commission and Holiday Pay. 75% of this is against commission so I was just wondering why they’ve done that?

Apart from anything else, I’m assuming this is going to render payslips pointless if I ever need proof of income because the basic pay accounts for about 15% of the amount. I’m assuming its for tax reasons which is also making me nervous....

Umbrella pay will be based on:-

Minimum wage - that has to be met
Bonus - which is everything above minimum wage
Holiday pay - which has to be accounted for.

Depending on the umbrella that bonus / commission could be being sent to your pension fund so it's best to keep it separate.

If you are concerned about tax look at the employer and employee NI amounts - those calculations will show that the tax you are paying will be across both the minimum wage and the bonus and quite likely holiday pay to depending on how holiday pay is organised.

[BABABlackSheep]

Just a query about Paystream... I have emailed them about it but thought I’d ask on here too as I’m sure this has come up before.

On my weekly payslips, my income is broken down in to Basic Pay, Commission and Holiday Pay. 75% of this is against commission so I was just wondering why they’ve done that?

Apart from anything else, I’m assuming this is going to render payslips pointless if I ever need proof of income because the basic pay accounts for about 15% of the amount. I’m assuming its for tax reasons which is also making me nervous....

You can either accrue holidays and they will deduct them from your salary or opt out and you’ll get paid them. No idea why you wouldn’t opt out.

I would and have recommended paystream after going through them. I have a number of ex-colleagues with them.

[ascender]

The rest of the payslip is fine, so I know what deductions are being made, pension contributions etc, my tax code is fine, but I’m wondering why my gross pay is split-up in to Basic and Commission, with Commission being the lion’s share?

[BABABlackSheep]

The rest of the payslip is fine, so I know what deductions are being made, pension contributions etc, my tax code is fine, but I’m wondering why my gross pay is split-up in to Basic and Commission, with Commission being the lion’s share?

All explained here..

What are the costs and fees of an umbrella company?