pinkbikini
Active Member
Hi, not been on here for a while but wanted to get the views of others...
I've recently been contracting via an umbrella company. I've contracted years ago via Ltd Co where I had more autonomy, but never before via umbrella. I need some views on what my options are re. payment discrepencies.
In short, I've been loading my private pension contributions (not massively, but a significant chunk of the weekly gross) to be tax-efficient. The umbrella co recently had a systems 'upgrade' which meant my pension contributions weren't processed for 2 weeks (despite me informing them immediately and then several times over the next two weeks).
Thus my gross and therefore tax was higher and I lost out on the tax benefit of the pension contributions. Umbrella company has admitted they were responsible due to systems errors during upgrade. Their solution is that I increase my pension contributions to make up the shortfall and pay less tax, and they are also giving me 2 weeks of no umbrella co charges.
This is pretty insulting. I've lost out £ hundreds and they're offering £ tens.
How would you negotiate this? Do I have recourse to any professional orgs to seek compensation? I don't see how I can ever get back to an 'equitable' solution via increased pension contributions as the tax advantage has disappeared for those 2 weeks. In the grand scheme of things it's not massive, but their response has irritated me.
Any views would be appreciated.
I've recently been contracting via an umbrella company. I've contracted years ago via Ltd Co where I had more autonomy, but never before via umbrella. I need some views on what my options are re. payment discrepencies.
In short, I've been loading my private pension contributions (not massively, but a significant chunk of the weekly gross) to be tax-efficient. The umbrella co recently had a systems 'upgrade' which meant my pension contributions weren't processed for 2 weeks (despite me informing them immediately and then several times over the next two weeks).
Thus my gross and therefore tax was higher and I lost out on the tax benefit of the pension contributions. Umbrella company has admitted they were responsible due to systems errors during upgrade. Their solution is that I increase my pension contributions to make up the shortfall and pay less tax, and they are also giving me 2 weeks of no umbrella co charges.
This is pretty insulting. I've lost out £ hundreds and they're offering £ tens.
How would you negotiate this? Do I have recourse to any professional orgs to seek compensation? I don't see how I can ever get back to an 'equitable' solution via increased pension contributions as the tax advantage has disappeared for those 2 weeks. In the grand scheme of things it's not massive, but their response has irritated me.
Any views would be appreciated.