New to Umbrella companies: some advice please New to Umbrella companies: some advice please
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  1. #1

    Nervous Newbie


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    Default New to Umbrella companies: some advice please

    Hello,

    I'm still quite new to the UK and have just taken on a six-month contract that I am told falls inside IR35 and that I will need to go through an umbrella company to get paid. Having freelanced in Australia as the equivalent of a sole-trader for much of my career, all of this is quite new to me (we don't have inside and outside IR35 or umbrella companies). I've spend the past few days reading extensively on these forums and elsewhere, and had a chat with Paystream to understand it all a bit better. A bit annoying that these companies take a considerable fee and that you have to pay employer's NI - add that to my own NI and PAYE tax and it doesn't leave you with a lot...but I guess it is what it is.

    Anyway, as it seems is the case with recruiters, I've been given a list of umbrella companies to choose from. Have been reading up on reviews, which are of course a mixed bag, but some are a few years old now. Wondering if anyone has advice on any of the following - or on anything else I should be thinking about as a first-time user of an umbrella company.

    Umbrella.co.uk
    Paystream
    OrangeGenie
    NASA
    Brookson One

    Thanks in advance!

  2. #2

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    This is a pretty standard list and has been discussed a few times. Have a go at the Google search option to find similar discussions already out there.

    In Google type in

    (umbrella name) site:forums.contractoruk.com
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  3. #3

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    Quote Originally Posted by northernladuk View Post
    This is a pretty standard list and has been discussed a few times. Have a go at the Google search option to find similar discussions already out there.

    In Google type in

    (umbrella name) site:forums.contractoruk.com

    Thanks northernladuk

    I know it's a common question so, as mentioned in my post, I have of course been thoroughly trawling this forum, and elsewhere, to do my own research. The reviews are, of course, a mixed bag and some are now quite old, so was just wondering if anyone had any recent experiences. The only one I have properly explored is Paystream, so it would be easy to simply go with them if they are all much of a muchness and have the same amount of good and bad reviews, but was just wondering if I was missing any recent feedback as to why I'd choose one over the other?

  4. #4

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    Get a full illustration from each company that you're considering, based on your expected day rate. In theory, they should all come out the same and the only difference would be the fee. You can then look at what you're getting for the fee.

  5. #5

    Still gathering requirements...

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    Hi TazCaz,


    Agreed with what others have said, and would also mention that it's probably worthwhile looking at what the FCSA (Freelancer and Contractor Services Association) does and go through their member list: FCSA • Members Directory • Accredited Members FCSA


    Kind regards


    Zeeshan

  6. #6

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    Quote Originally Posted by ladymuck View Post
    Get a full illustration from each company that you're considering, based on your expected day rate. In theory, they should all come out the same and the only difference would be the fee. You can then look at what you're getting for the fee.
    Have just done this ladymuck and they are pretty much spot on with the same take home and process. A few (PayStream, umbrella.co.uk) seem to have some sort of rewards program set up but not really clear on how that works. Brookson were very helpful and friendly on the phone. With such mixed reviews for all of them, it's quite hard to seperate them - guess it's just a matter of picking one!

  7. #7

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    Quote Originally Posted by TazCaz View Post
    guess it's just a matter of picking one!
    Correct.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  8. #8

    Fingers like lightning

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    Quote Originally Posted by TazCaz View Post
    guess it's just a matter of picking one!
    Make sure you speak with them all on the phone, you can get a better idea of the company if they can explain it all properly over the phone to you! Then make the choice
    Just watching what I say

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