What scheme is this?

[ContractorBanking]

A contractor I met says he's on a "scheme" where he gets 80+% of the billable amount.

He's also NOT a director of a limited company.

I don't know much about these dodgy schemes but anyone know how this could work?

Its Friday, work is quiet and I'm in a curious mood!

[AntonioDJCA]

It's most likely one of those "loan" schemes where the "company" that pays you's office is located in the middle of a field somewhere in the Isle of Man. https://www.gov.uk/government/news/p...e-loan-schemes

Hope this helps!

[ASB]

How does it work who knows. But badly eventually as likely as not.

[northernladuk]

Maybe we should open a sub forum with thousands of posts about this... Oh hang on.. We already have....

[meanttobeworking]

Tell him to check his post more regularly...

[unixman]

It's called the "going to jail" scheme.

[AntonioDJCA]

It's called the "going to jail" scheme.

Well said.

[BrilloPad]

Its part of the BrilloOffshore scheme. Thousands already registered. QC guaranteed.

Just arrange for me to receive your invoices then I will take care of the rest.

[TheFaQQer]

Its part of the BrilloOffshore scheme. Thousands already registered. QC guaranteed.

Just arrange for me to receive your invoices then I will take care of the rest.

Careful - you want to use words like "our scheme has been reviewed by a QC" without using the word guarantee...

[Alan @ BroomeAffinity]

Sounds good. What can possibly go wrong. Give it a bash.