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  1. #21

    My post count is Majestic

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    Have a good read of this including the comments...

    So you want to be a contractor? Well, here's how it works ? The Register
    'CUK forum personality of 2011' - Winner - Yes really!!!!

  2. #22

    My post count is Majestic

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    - Don't badmouth ALL your clients on CUK, or everyone will assume YOU are the problem.
    Quote Originally Posted by MaryPoppins View Post
    I'd still not breastfeed a nazi
    Quote Originally Posted by vetran View Post
    Urine is quite nourishing

  3. #23

    Some things in Moderation

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    Default (Umbrella) Companies: check them out BEFORE they go wrong

    As the latest umbrella company (Compusource) hits the buffers with contractor's money, I thought I'd remind people what 'due diligence' is all about.

    It's all about checking that companies are what they say they are and that they are following the rules. The slight hiccup is that you need to know what those rules are.

    Well here's the first one - you need to know who you are dealing with.

    No, really.

    You must be able to point to a person who owns or runs the company. The Director (or Directors) of that company. Or even know if it's a real company.

    Was Compusource a real company?

    The First Company Law Amendment Directive came in on 1 January 2007, and companies are required to put the following information on both their website and business emails:
    • the company registration number
    • place of registration (such as England and Wales)
    • registered office address.
    In addition, the website also needs to include:
    • The company name, postal address and company email address
    • The name of any trade bodies or professional associations that the business is part of, including membership or registration details.
    • The company VAT number, even if the website is not being used for e-commerce transactions.
    • Any prices on the website must be clear and unambiguous.

    All of this information only needs to be on the website once and it doesn't need to be highly visible, so look in About us/Contact Us/Legal Information/T&C pages (or just google 'registered office site:companyname.com')

    Why is this important? As the disgruntled Compusource contractors are discovering, you need to find a person responsible if the company suddenly refuses to answer its phone.

    Why would a reputable company NOT give you this information?

    Having a Limited company name helps to locate them (and the Directors) in Companies House. Without a Ltd Company you can't do that. There are a few Compsource's in Companies House and who's to say which (if any) is the right one?

    Admittedly, looking the website up on WHOIS.net may help but in compusource.co.uk's case that domain is available!

    So, before you sign on the dotted line with ANY company, at least make sure that it's a real company with real people that you can point solicitors at if it all goes belly up...

    Finally, my advice is to think LONG AND HARD about a company that doesn't have this information on it's website.

    For further information on what should be on a company website, look here: The UK's E-Commerce Regulations

    Note: Search Nominet for uk websites (I forgot to do that...)

  4. #24

    Nervous Newbie


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    Very useful information thank you. Are there any other threads you could reccomend?

  5. #25

    Some things in Moderation

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    Default Basic advice when running your own Contractor business

    Quote Originally Posted by Sarah1980 View Post
    Very useful information thank you. Are there any other threads you could reccomend?

    On the right you'll find CUK Navigation. >>>>>>>>>

    Look down and you'll come to the First Timers section. Have a read through there.

    Basic expenses questions answered here: Contractor Expenses - How to claim Travel and other expenses via Limited Company or Umbrella

    Then pay particular attention to IR35.

    And here are the rules when using company credit cards: http://www.hmrc.gov.uk/payerti/exb/a-z/c/cards.htm

    Guide to Contracts also has some good articles.

    And finally - accountant recommendations

  6. #26

    I live on CUK

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    If other posters on here, especially those in the same field as you, state your accountant is doing something odd such as (and not limited to), telling you:
    1. to pay them so they can pay HRMC on your behalf,
    2. a computer or smartphone consumable is an asset,
    3. that you must claim minimum wage when you have no employment contract and are a company director,
    4. not registering you for VAT as soon as you start your contracting company

    Then it's a good idea to find a new accountant who understands contractor businesses and keeps up to date with legislation. Accountants like us have forums they can use and also have CPD requirements.
    "You’re just a bad memory who doesn’t know when to go away" JR

  7. #27

    Still gathering requirements...


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    Quote Originally Posted by SueEllen View Post
    3. that you must claim minimum wage when you have no employment contract and are a company director,
    I guess by 'employment contract' you don't mean permanent employment.

    If yes, then I received very similar advice, the explanation was that even if you don't have a contract you are working as a company director to find a new contract, so you must pay yourself a salary. Not sure if this is accurate or not.

  8. #28

    I live on CUK

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    Quote Originally Posted by new2c View Post
    I guess by 'employment contract' you don't mean permanent employment.

    If yes, then I received very similar advice, the explanation was that even if you don't have a contract you are working as a company director to find a new contract, so you must pay yourself a salary. Not sure if this is accurate or not.
    You are getting confused.

    An employment contract is what a worker has if they are in permanent, temporary or fixed term employment.

    As an office holder of a company, director or company secretary, you don't need to have an employment contract with the same company even if you are a worker for that company.

    A contract for services is what the company, you are the officer holder of, has with an agency or a another company.

    In regards to paying yourself a salary as an office holder when your company doesn't have a contract for services, you don't legally have to pay one. The point of this is to allow small businesses to survive during tough times, however it's less work for your accountant if you do and there are also ethical/moral considerations. There is an entire thread in general about claiming JSA between contracts for services.
    Last edited by SueEllen; 16th June 2015 at 19:29.
    "You’re just a bad memory who doesn’t know when to go away" JR

  9. #29

    Super poster


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    Another tip - don't assume that fellow posters on this forum (probably with lots of posts to their name) will always necessarily provide constructive responses to your posts, especially to what may be seen as basic/obvious questions or opinions.

    The concept of "there is no such thing as a dumb question" doesn't apply to this forum. Although most of the time we are one big happy contractor family.
    ______________________
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  10. #30

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    Quote Originally Posted by d000hg View Post
    - Don't badmouth ALL your clients on CUK, or everyone will assume YOU are the problem.
    Or at your place of work.
    ______________________
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