Umbrella Companies

  OTT_B 09:02 09 Mar 2010

After a break from contracting work I'm returning to the fold next week. In the past I've always done contracting work under Ltd Co, but since the admin work requires more time than I can put into it I'm considering using an umbrella company.

Does anyone have any direct experience with an Umbrella Company or can anyone make a recommendation of which company to use? There are a lot of companies out there offering services, but fees seem to vary quite wildly from one company to another and I'm not quite sure why.

  ajm 13:44 09 Mar 2010

One company that I was initilaly looking at was click here however seem to be expensive for some.

Also have a look click here for advice.

Upon advice, I chose an accountant that I had met through my previouse employment and have recommnended him to many people, all of them very very happy with him.

I personally am a Sole Trader and all my accounts and end of year SA, etc are done through the accountant and I just give him all the paperwork as and when he requires and he does the rest. I know for a fact that he has a few IT contractors for whom he deals with all the admin/accounting stuff. He is based in Edgware, Middlesex, but his clients are all over the country.

Send me a message through the yellow envelope if you need the accountants details and may be worth your while speaking with him.

I have always received very prompt service and advice ( almost all free! ) whenever I have needed and he has also saved me some £££

  OTT_B 18:38 09 Mar 2010

Thanks for the post ajm.

I've eventually decided to go through Springboard Umbrella. The costs are competitive against the rest of the market and the initial contract expires in August anyway, so I can always use that as an excuse to change if necessary.

The Telegraph article is quite interesting, although I can't see any party loosening up the tax laws for IR35 related issues. The problem with the current system (for me) is that contract rates are not high enough to reflect the job security risks of contract work, especially if you fall under the remit of IR35. And it's job security that HMRC don't look at when deciding if you should be a permanent employee.

I always figured that should I ever be investigated by HMRC for IR35 that it would be worth a shot in arguing that if I was a 'permanent employee' of the final client then the final client must therefore be liable to pay redundancy in the event of termination. Since the final client never would then someone somewhere is breaking employment law. It probably wouldn't do any good, but would be good fun trying!

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