- Umbrella companies! Any advice - ASAP?

Bme

Hi! I've been asked to sign up to an FCSA-approved umbrella company to represent me on Yuno Juno. Anyone used the following and any good/bad feedback welcomed!
-iCS
- PayStream
- Danbro
- Parasol
- Giant
- Contractor Umbrella

Thanks

motorguy

You might find useful info here...

https://www.contractoruk.com/umbrella_company

https://www.contractoruk.com/umbrella_company/compare_umbrella_companies_contractors_guide.html

https://www.contractoruk.com/directory/umbrella_companies.html

motorguy

Also dont forget they will be charging you Employers National Insurance and Apprenticeship Levy (the two work out at around 14%) on top of your Employees Tax and National Insurance.

Also most will "hold back"  some of your pay to form your annual leave entitlement pool.

farmerboy

Can only sort of comment on Danbro, Parasol, and Giant, we also had a couple of others to choose from on our approved list. Out of them I chose Danbro, but didn't sign up in then end due to the Govt extending the IR35 to next April. TBH there's not much to choose between any of them, Danbro came in with the best in the bank figure for my earnings. As for holiday pay, they keep nothing back so when you have time off you get no pay, I like that way better as its the same as I work now.

Personally, I think they are all parasites, but unfortunately its what we have to work with to get paid unless the govt ban them completely. I'm hoping to be in a proper PAYE job by April so won't need to use any of them