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  1. #1

    PMiddle877

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    Default What umbrella company do I choose? Is offshore safe?

    Hi everyone

    I am new to contracting, and am starting a 6 month contract at the beginning of March and need to sign up with an umbrella company. There are so many around, and having spoken with a few, I'm not sure which one to go for. They all offer the same rates, same perks etc so who do people recommend in the current climate.

    The one's I have had quotes off already are Best Payment Services and first 4 contractors who both offered me 90% which seemed to good to be true. They were both on the first page of my google search so presume they are at the top of the game. I did the usual google search to check the reputations and to see whether people have had good/bad experiences with either of them to which I found a varying response. Has anyone had experience with either of these companies?

    What I did find worrying on a simple google search was that one of Best Payment Services directors, Nathan Cafearo is an Isle of Man resident and is linked to various other payroll companies many of which operate out of the Isle of Man, he even registered the domain name <mod snip> best-pay <mod snip> which for some reason seems to now be non existent when you click on it, that does seem strange, do the directors swap names of their businesses all the time, and that's why it's now called Best Payment Services, that's all I can think why best-pay website isn't now working. To be fair Best Payment Services is based in Cheshire, so that particular payroll firm of Nathan Cafearo appears to be UK based, or doesn't it actually matter whether its offshore, its just you hear a lot of bad press about offshore in the news all the time.

    Look forward to hearing peoples opinions.

    Thanks guys

    P

  2. #2

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    Quote Originally Posted by PMiddle877 View Post
    Hi everyone

    I am new to contracting, and am starting a 6 month contract at the beginning of March and need to sign up with an umbrella company. There are so many around, and having spoken with a few, I'm not sure which one to go for. They all offer the same rates, same perks etc so who do people recommend in the current climate.

    The one's I have had quotes off already are Best Payment Services and first 4 contractors who both offered me 90% which seemed to good to be true. They were both on the first page of my google search so presume they are at the top of the game. I did the usual google search to check the reputations and to see whether people have had good/bad experiences with either of them to which I found a varying response. Has anyone had experience with either of these companies?

    What I did find worrying on a simple google search was that one of Best Payment Services directors, Nathan Cafearo is an Isle of Man resident and is linked to various other payroll companies many of which operate out of the Isle of Man, he even registered the domain name <mod snip> best-pay <mod snip> which for some reason seems to now be non existent when you click on it, that does seem strange, do the directors swap names of their businesses all the time, and that's why it's now called Best Payment Services, that's all I can think why best-pay website isn't now working. To be fair Best Payment Services is based in Cheshire, so that particular payroll firm of Nathan Cafearo appears to be UK based, or doesn't it actually matter whether its offshore, its just you hear a lot of bad press about offshore in the news all the time.

    Look forward to hearing peoples opinions.

    Thanks guys

    P
    They're at the top of google because they paid the most to be there.

    Choosing a legitimate umbrella

  3. #3

    PMiddle877

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    Many thanks for the reply cojak, interesting info on the link you sent me, so weighing it up, if one of Nathan Cafearo payroll firms are based in the Isle of Man, the likelihood is that the lot will be?

    first 4 contractors it is then unless am told otherwise by you guys, thanks

  4. #4

    PMiddle877

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    But saying that, even there offer of 90% is to good to be true, it's quite a mission to find a provider who you know is 100% above board, them two appear not weighing everything up

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    Quote Originally Posted by PMiddle877 View Post
    who both offered me 90% which seemed to good to be true
    Er, yes. If you go this route, what you've essentially done is to find some random person on the street, give them 100% of your income, and have 90% handed back to you, the 10% being trousered by them. Do you think in any way that absolves you of your responsibilities? It doesn't Read the link from cojak very carefully and then slap yourself for even wanting to believe this tosh.

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    Quote Originally Posted by PMiddle877 View Post
    Many thanks for the reply cojak, interesting info on the link you sent me, so weighing it up, if one of Nathan Cafearo payroll firms are based in the Isle of Man, the likelihood is that the lot will be?

    first 4 contractors it is then unless am told otherwise by you guys, thanks
    You didn't read all of the post, did you?

    Any company offering you 90% take home WILL get you into trouble with HMRC.

    Go back and read it again.

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  8. #8

    PMiddle877

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    My suspicions appear right, Mr Cafearo and all his businesses are Isle of Man based, this link makes interesting reading how certain payroll owners think they can keep ahead of HMRC, but all they are is unscrupulous businessmen by the looks of it, Nathan Cafearo surely must be looking over his shoulder at all times especially after reading this court matter: https://www.judgments.im/content/J1306.htm


    I will take your advice, contractor umberella it is, thanks for the advice, it is appreciated, just goes to show that it was worth doing a bit of homework before going with my first ideas

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    Quote Originally Posted by PMiddle877 View Post
    My suspicions appear right, Mr Cafearo and all his businesses are Isle of Man based, this link makes interesting reading how certain payroll owners think they can keep ahead of HMRC, but all they are is unscrupulous businessmen by the looks of it, Nathan Cafearo surely must be looking over his shoulder at all times especially after reading this court matter: https://www.judgments.im/content/J1306.htm


    I will take your advice, contractor umberella it is, thanks for the advice, it is appreciated, just goes to show that it was worth doing a bit of homework before going with my first ideas
    To be fair the HMRC is also unscrupulous businessmen extorting money without account. This is known as racket.

    The OP, in order to do offshore you have to have millions because you need to consult with people that will require that much. For one-man-band IT contractor you are on your own.

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    Quote Originally Posted by PMiddle877 View Post
    My suspicions appear right, Mr Cafearo and all his businesses are Isle of Man based, this link makes interesting reading how certain payroll owners think they can keep ahead of HMRC, but all they are is unscrupulous businessmen by the looks of it, Nathan Cafearo surely must be looking over his shoulder at all times especially after reading this court matter: https://www.judgments.im/content/J1306.htm


    I will take your advice, contractor umberella it is, thanks for the advice, it is appreciated, just goes to show that it was worth doing a bit of homework before going with my first ideas
    Good for you - being able to sleep at night is worth it.

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