Umbrella companies

salgreen28

Could anyone please advice on best umbrella company to use as an agency nurse

deedee71

If you're through an agency, you might find the agency will have an approved list and you'll have to choose from one of them.  

I've used quite a few.  Both Nasa and Sapphire let you pay into your own stakeholder pension so you pay less tax.  Expect fees to be around £22-25 with an extra £5 for the pension payment.

If they direct you to their own pension provider and it's either Nest or Now you'd be as well setting fire to the money because they are appalling.

Ditzy_Mitzy

I once bought a fairly pricey Fulton, however found it to be no better than the cheap sort of umbrella.  The best I've had, in terms of durability vs cost, came from New Look of all places.  It keeps the holder dry and seems fairly adept at springing back into shape if blown inside out.  
Primark umbrellas, whilst cheap, are too prone to breakage to bother with.  

richardw

Black Fulton is the best to get, if you accidentally lose it in on public transport, somebody’s usually handed it in to the lost property office.

marmite1979

Got some cheap ones in Milan sold by street traders they only lasted between metro stops and were chucked away after a few minutes. I've got a big strong Fulton with a vent to let the wind through it, It's a beast but tricky in crowded areas and not allowed in some stadiums so you can't take it with you everywhere.

coffeehound

Are you people having a tin bath at the OP's expense?  

Rosa_Damascena

This may sound naive, but why the insistence on an umbrella company? What's wrong with annual self-assessment or being paid via public sector bank?

deedee71

Unless the agency operates their own payroll then using an umbrella ensures real time tax compliance, which HMRC says is the reason for off-payroll legislation.

Self-assessment is used to report your entire circumstances, not sure what that has to do with getting paid for contract work.

I don't know what you mean by public sector bank.

Rosa_Damascena

deedee71 said:

Unless the agency operates their own payroll then using an umbrella ensures real time tax compliance, which HMRC says is the reason for off-payroll legislation.

Self-assessment is used to report your entire circumstances, not sure what that has to do with getting paid for contract work.

I don't know what you mean by public sector bank.

I've filled in a SA form for the last 25 years. Why do I need to give a cut to a third party, whether agency or umbrella company? If there is no contractual obligation, why cannot I not pay any monies owed directly to HMRC in July and January in the usual way? Is there some statute I need to be aware of here?

Public sector bank refers to a specific set of circumstances - I would much rather go down this route and get PAYE and pension contributions, holiday pay etc. The biggest headache would be downloading payslips and submitting 4 figures to HMRC under the PAYE page at they end of the year.

JohnDorian

Rosa_Damascena said:

deedee71 said:

Unless the agency operates their own payroll then using an umbrella ensures real time tax compliance, which HMRC says is the reason for off-payroll legislation.

Self-assessment is used to report your entire circumstances, not sure what that has to do with getting paid for contract work.

I don't know what you mean by public sector bank.

I've filled in a SA form for the last 25 years. Why do I need to give a cut to a third party, whether agency or umbrella company? If there is no contractual obligation, why cannot I not pay any monies owed directly to HMRC in July and January in the usual way? Is there some statute I need to be aware of here?

Public sector bank refers to a specific set of circumstances - I would much rather go down this route and get PAYE and pension contributions, holiday pay etc. The biggest headache would be downloading payslips and submitting 4 figures to HMRC under the PAYE page at they end of the year.

It’s simple. Because the option of SA is no longer due to everyone due to IR35 legislation introduced over the last few years. Under some circumstances the end client has responsibility for deemed payments and cannot therefore just release full payment to the worker and hope the worker declares it via self assessment.

Andy_L

Rosa_Damascena said:

This may sound naive, but why the insistence on an umbrella company? What's wrong with annual self-assessment or being paid via public sector bank?

I dont think bank work exists outside the NHS