Umbrella Company offering 87% return

[LisaContractorUmbrella]

All references to the crap scheme provider removed and the OP banned.

He was that good.

You're my hero Cojak

[eek]

I particularly like this post where he doesn't know what he is selling.

Shame I didn't notice this earlier I could have had some fun with him

Thanks for this, I cannot find any literature regarding the pension element.
Obvioulsy the quetion is, how is the loan treated when you / personal pension is the benefitiary? what if any are the tax implications on this and what declarations should be made to the HMRC?
Speaking to them (mod snip) they do seem to suggest this has vetted by a tax specialist called Robert Venables QC.

agreed, this seems very suspicious, however I would ratehr knwo the full facts before discounting them.
thanks for the replies!

[ASB]

Just a thought......

If it it not possible it is "simply" pay minimum wage salary, lob rest in a pension as a company contribution and charge a hefty fee for the privilege.

Immediate vesting can make that a viable strategy for old folks like me. But paying for the privilege is unncessary of course.

[LisaContractorUmbrella]

I particularly like this post where he doesn't know what he is selling.

Shame I didn't notice this earlier I could have had some fun with him

You missed your chance there Eek

[gareth1981]

Wasnt a plug, (not that I will be believed now). Reading the above, you will note I wasnt suggesting people to use the company, rather me wanting to know the facts, which you all kindly provided.

In anycase, thank you all for your advide, as suggested I will keep with Ltd company.
G

[ContrataxLtd]

All references to the crap scheme provider removed and the OP banned.

He was that good.

Well played!

I feel sorry for anyone that gets sucked in to these scheme by all the sales pitch not knowing what they are getting themselves into.

Martin

[gareth1981]

Just a thought......

If it it not possible it is "simply" pay minimum wage salary, lob rest in a pension as a company contribution and charge a hefty fee for the privilege.

Immediate vesting can make that a viable strategy for old folks like me. But paying for the privilege is unncessary of course.

Thanks ASB, thats the kind of constructive comment I was after, will look into this.
God help anyone new trying to get help on this site!

[DaveB]

Damn, missed this one. Was in the mood for a bit of dirt digging today.

Plus, Admin gets bored when he doesnt have any irate scheme providers moaning at him

[Pondlife]

Thanks ASB, thats the kind of constructive comment I was after, will look into this.
God help anyone new trying to get help on this site!

If so, why would you need to use a 'loan'? Do you expect your pension fund to pay back this 'loan' at some point.

Put it this way, you're saying you are willing to work a full week and have someone else receive the money for this. They then pay you minimum wage for the hours worked and then lend the rest of the money to your pension fund and charge you for the privilege. What happens when the directors disappear/do a runner and the receiving company decides to call in all monies owed (though loans made).

[gareth1981]

If so, why would you need to use a 'loan'? Do you expect your pension fund to pay back this 'loan' at some point.

Put it this way, you're saying you are willing to work a full week and have someone else receive the money for this. They then pay you minimum wage for the hours worked and then lend the rest of the money to your pension fund and charge you for the privilege. What happens when the directors disappear/do a runner and the receiving company decides to call in all monies owed (though loans made).

Partly.
What I am trying to find out is whether people have had experiance with this.
Without wishing to get banned, I was told the loan benefitiary would be the personal pension holder (ie: myself). I dont beleive they lend the money to the pension pot, I think the money is provided to the pension pot which in turn is lent to you. the charge comes from the gross amount invoiced for, which is in the single digit as a %. The question i wanted to understand is, assuming this was the case, who would have the recall rights on the loan, would it be purley the pension owner if they were the benefitiary. If so, then what are merits/dangers, tax implications of not recalling this loan, having a pension with such a loan debt, what is teh HMRCs view on this and does it impact any other pensions you may have?
Its all very well saying to ignore this scheme, which I will be, and direting my friend this this for advice, however doing a search on google doesnt show any discussions or advice on this, hence why I brought it up. This site should be an area to learn what is out there and why such schemes should be ignored / banned.