Umbrella companies with share options

Daisy_84Daisy_84 Forumite
174 Posts
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My umbrella company is changing my contract, meaning I will be getting paid less. I found out the reason why. Apparently I have been getting more money through shares from the umbrella company but now they are moving contracts to a new company. 

I’m now looking for another umbrella company. I was wondering if there are still umbrella companies that offer shares to clients as an incentive?

Replies

  • Nnenne1Nnenne1 Forumite
    28 Posts
    Seventh Anniversary 10 Posts
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    What do you mean by offers shares? Be weary of umbrellas that offer things to boost your pay. I run an umbrella company which I started because my sister fell foul of this and now dealing with hrmc. 

    Be very weary because the penalties are huge. 
  • DullGreyGuyDullGreyGuy Forumite
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    Daisy_84 said:
    My umbrella company is changing my contract, meaning I will be getting paid less. I found out the reason why. Apparently I have been getting more money through shares from the umbrella company but now they are moving contracts to a new company. 

    I’m now looking for another umbrella company. I was wondering if there are still umbrella companies that offer shares to clients as an incentive?
    Since the changes in IR35 legislation there are far fewer umbrellas using shares, loans, investments in the film industry and other such tricks to avoid tax for their contractors. Clients often want umbrellas to be certified and these tricks cannot be certified. 

    I'm sure if you search you will find some but you have to be very comfortable in knowing that most are not compliant and HMRC can make you pay the back taxes... an associate was on £1,000 a day for over a decade and didn't pay a single penny in income tax or NI
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