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Type: Posts; User: Matt FPSGroup

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  1. I'm not posting anymore on the matter - I think...

    I'm not posting anymore on the matter - I think I've said all that's needed, there's hardly that many listings to trawl through after all. It's a call to action to get ContractorUK to clean up their...
  2. Just to bring this thread back to life – I still...

    Just to bring this thread back to life – I still see some potentially questionable listings under the PAID FOR ‘Umbrella Companies’ section on this site. Would you believe it...
  3. Additionally using Waybackmachine if you look at...

    Additionally using Waybackmachine if you look at the redirects setup on the old website www.bestpay.co.uk which disappeared at some point in early 2017 they point to www.bestpaymentservices.co.uk...
  4. Stick...

    Stick https://www.contractoruk.com/directory/umbrella_companies.html into Waybackmachine (Internet Archive: Wayback Machine) and roll the webpage back to 1st August 2017....

    Interesting how a...
  5. Very valid questions but if the practicalities of...

    Very valid questions but if the practicalities of undertaking such checks prove too much, then to stick to the core mission of being a "trusted source of information and news for contractors" then...
  6. Opus are not directly on the directory...

    Opus are not directly on the directory listing...but they are on there indirectly by association....

    BES (Best Employment) are on the paid directory listing. Their office address is Drake House,...
  7. Thread: Umbrella

    by Matt FPSGroup
    Replies
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    4,122

    When it comes to Umbrella Company take home pay...

    When it comes to Umbrella Company take home pay rates, the old adage ‘if it sounds too good to be, it usually is’ couldn’t be more appropriate. As a general and easy to remember rule, if an umbrella...
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    My advice would be to run a mile! The basic rule...

    My advice would be to run a mile! The basic rule is that there is simply no legitimate way of enhancing contractor take home pay. Companies which market solutions to do so should be strictly avoided.
  9. Replies
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    5,084

    Hi Lucy, the assumptions used for our basic...

    Hi Lucy, the assumptions used for our basic online calculator state that a 15% uplift is used (see assumptions section under our calculator). The uplift therefore accounts for the differing take home...
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    5,084

    Lucy is absolutely right. The take home pay for...

    Lucy is absolutely right. The take home pay for every umbrella company should be almost identical. The only variations in umbrella company costs should be the administration fee, whether the...
  11. Replies
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    5,084

    Yes, you are correct. The mileage used in our...

    Yes, you are correct. The mileage used in our calculations is specifically classified as Business Mileage which is on the job mileage excluding home to work travel.

    Our online calculator states...
  12. Replies
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    5,084

    FPS have been providing umbrella administration...

    FPS have been providing umbrella administration services since 1994. Whilst we have an office in the Isle of Man, the umbrella companies we administer are UK companies with UK banking arrangements –...
  13. Replies
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    Hello, don't forget about us! Happy to help if...

    Hello, don't forget about us! Happy to help if you need us :wink
  14. Replies
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    11,065

    Question on Umbrella Reviews

    Hi, transparency on customer service standards is as clear as mud in the umbrella industry. You need to do your research before rushing in and picking a provider. We are not on your list but like to...
  15. Replies
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    A lot will depend on whether the assignment is...

    A lot will depend on whether the assignment is within the public sector, how long the assignment is for and whether the majority of your other assignments are inside or outside IR35.

    If it is a...
  16. HSBC do their administration and have their call...

    HSBC do their administration and have their call centre in India. My point was merely that administration could be done outside of the UK, but still adhere to the relevant laws of the country. The...
  17. Our regulation absolutely is relevant. If you...

    Our regulation absolutely is relevant. If you can choose a compliant umbrella company that adheres to all relevant regulations, with administrators who are held to a much greater account than any...
  18. We were audited by EY last year. They have...

    We were audited by EY last year. They have confirmed that the offshore intermediaries legislation doesn’t apply, as we are administering UK umbrella companies. Given that you weren’t able to read my...
  19. There’s no need to get QC opinion for UK umbrella...

    There’s no need to get QC opinion for UK umbrella companies. As we don’t offer any kind of offshore tax structuring, loans or other exotic avoidance structures, we save a shedload on legal fees....
  20. Unfortunately, I don’t know who Lucy is and have...

    Unfortunately, I don’t know who Lucy is and have no evidence to present to her. My information is second/third hand from agencies/contractors and a decent knowledge of my competitors. If Lucy wants...
  21. We are a corporate service provider, regulated by...

    We are a corporate service provider, regulated by the Isle of Man Financial Services Authority. In order to become a regulated entity, we have to do the following:

    • All Directors, key members of...
  22. My information was provided by consultants within...

    My information was provided by consultants within the affected agencies and the contractors that have been told to move. It probably wouldn’t be advisable for me to name and shame on here. Surely...
  23. Most large umbrella administrators, such as...

    Most large umbrella administrators, such as ourselves, haven’t felt the need to join. None of the original four contractor payroll providers (us, Giant, Parasol and Brookson) are members. I could...
  24. Hi there, FPS have been providing umbrella...

    Hi there,

    FPS have been providing umbrella administration services for over 20 years. Whilst we have an office in the Isle of Man, the umbrella companies we administer are all UK companies with UK...
  25. We are currently deducting 1% of net invoice...

    We are currently deducting 1% of net invoice value for our Umbrella solution which equates to around £5.50 on average for our contractors. Smaller operators such as this particular one will indeed...
  26. A limited company is a longer term commitment. ...

    A limited company is a longer term commitment. If there is the potential for you to go back perm in 6 months, an umbrella company is probably best for you initially. Once you have decided whether...
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    Hi Floo, I believe the opinions expressed in the...

    Hi Floo, I believe the opinions expressed in the forums are independent of other site content/features such as the directory which are paid for services.

    All the best, Matt
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    The contractor is employed by a UK company and...

    The contractor is employed by a UK company and paid under standard PAYE with all payments made to HMRC. There are no trusts, loans, dividends or other wheezes to try and avoid tax, so no need for QC...
  29. Replies
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    You are absolutely right, the fee covers much...

    You are absolutely right, the fee covers much more. You must agree however that customers need to feel that they are getting value for money? As our customers were having their take home pay...
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    Fred, You’re absolutely right, the vast majority...

    Fred, You’re absolutely right, the vast majority of expenses were stopped in April via the changes in travel and subsistence legislation and the changes to the finance act. The only expenses we...
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    Fred, Contractors are employed by UK limited...

    Fred, Contractors are employed by UK limited companies with UK banking arrangements – no money is transferred offshore. As the contractors aren’t directors and their money only ever gets paid to them...
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    Hi Mikat, The weekly charge of £25.95 that...

    Hi Mikat,

    The weekly charge of £25.95 that they are asking for was about average before the April 2016 legislative changes. Following these changes, many operators have chosen not to reduce their...
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