Umbrella company weekly vs monthly margins

[Pixi]

According to my recruitment agency, I need to join one of the Umbrellas on their list. I am trying to compare them... checking if they are FCSA members... reading reviews (though I am not sure what to believe)..

Since I have no way of really knowing what the service will be like until I actually join, I started to focus on comparing their margins/fees. These range from £18 to £25 if you wish to be paid weekly (with some charging an additional fee to handle your salary sacrifice), but the margins vary from £60 to £125 (per month) if you wish to be paid monthly. It's impossible to know what £125 per month buys that £60 doesn't. Anyone else getting paid monthly and have any tips on this route?

I was wondering if anyone is willing to recommend (or share their experience of) any of my shortlisted companies:

Exact Payroll
Paystream
Danbro
Brookson One

Also, am I correct in assuming their is no point in keeping my Limited Company going, now that I have to join an Umbrella?

[northernladuk]

Use the Google search method. This exact question and list comes up weekly.

Type in (keyword) site:contractoruk.com/forums.

Type each of the names in and read what was said from other posts.

[eek]

According to my recruitment agency, I need to join one of the Umbrellas on their list. I am trying to compare them... checking if they are FCSA members... reading reviews (though I am not sure what to believe)..

Since I have no way of really knowing what the service will be like until I actually join, I started to focus on comparing their margins/fees. These range from £18 to £25 if you wish to be paid weekly (with some charging an additional fee to handle your salary sacrifice), but the margins vary from £60 to £125 (per month) if you wish to be paid monthly. It's impossible to know what £125 per month buys that £60 doesn't. Anyone else getting paid monthly and have any tips on this route?

Probably very little but once you've drawn up your short list, ask them.

[rootsnall]

£10 a week seemed to be the going rate ( inc salary sacrifice ) when I started with an umbrella 6 months back. So I'd get haggling. I didn't speak to any on that list though. The end product should be exactly the same with all of them. I suppose some could offer longer payment terms but they should pay you on the next payment run after they receive the money.

[eek]

£10 a week seemed to be the going rate ( inc salary sacrifice ) when I started with an umbrella 6 months back. So I'd get haggling. I didn't speak to any on that list though. The end product should be exactly the same with all of them. I suppose some could offer longer payment terms but they should pay you on the next payment run after they receive the money.

Don't take this the wrong way but I really don't see how £10 a week actually works from the umbrella side of things - I can see the figures working at £18 a week / £60 a month but much below that seems very tight.

[rootsnall]

Don't take this the wrong way but I really don't see how £10 a week actually works from the umbrella side of things - I can see the figures working at £18 a week / £60 a month but much below that seems very tight.

That is what I'm getting charged . I rang a few on the preferred supplier list and I think two of them were a tenner. I've been transferred over to JSA and I'm expecting an increase at some stage and I'll probably be lazy and accept it.

£18 a week is costing as much as a full accountancy package of which payroll is only part of, so seems a bit steep to me but....

[eek]

That is what I'm getting charged . I rang a few on the preferred supplier list and I think two of them were a tenner. I've been transferred over to JSA and I'm expecting an increase at some stage and I'll probably be lazy and accept it.

£18 a week is costing as much as a full accountancy package of which payroll is only part of, so seems a bit steep to me but....

But equally an umbrella has a pile of costs beyond payroll - insurance being one, employment law and rights another...

You can't compare accountancy fees with umbrella fees the things being provided are very different.

[rootsnall]

But equally an umbrella has a pile of costs beyond payroll - insurance being one, employment law and rights another...

You can't compare accountancy fees with umbrella fees the things being provided are very different.

I suspect for an outfit like JSA they are trying to sell on other 'services' on top of the £10 a week so aren't strictly dependent on collecting a lot of tenners. It's also pretty much all automated once you are up and running. At scale I'm sure they are making decent money.