TekSystems (Allegis Group] - Beware!

[m0n1k3r]

If it's your own LTD then you aren't a competing agency/consultancy.

A consultancy would simply view themselves as a supplier to the agency just like one-man contractors (mostly) do. Smaller consultancies often operate in networks, using each others' resources when and as needed. Agencies could well also be part of that supply chain, if only they ever wanted to, but as their business model is purely transactional, one-off, quick commission-based, they are very fearful of anything that doesn't match their narrow world view exactly.

[AndrewK]

Just write anything. They don't check. Play their game - provide information they expect.

[javadude]

I'm with TekSystems. Compliance process was a pain. I did answer their stupid questions but gave a vague "when I feel like it" one to the dividend question and they were ok with that. I've had other issues too although to be fair the client is the worst I've dealt with so I'm not sure how much blame to apportion to the agent. I'm just trying to get some stuff resolved so might post more later.

[LondonManc]

Even so, I could be spending most of my time in Germany and for that reason have a German GmbH while occasionally taking on a contract in good 'ole UK.

I'm very pleased for you. I was talking about UK-based, British contractors operating solely within the UK. I didn't want your life story.

[siddit]

I've only just verbally accepted a contract via TekSystems and have filled in one of these forms. The agent has told me that the Compliance team are saying that I can't keep the current shareholding split! My parents have 33% each, and me 34%.

Can anyone tell me why they're objecting?

I've asked TekSystems to respond with a written explanation, and am waiting for their reply.

[SueEllen]

I've only just verbally accepted a contract via TekSystems and have filled in one of these forms. The agent has told me that the Compliance team are saying that I can't keep the current shareholding split! My parents have 33% each, and me 34%.

Can anyone tell me why they're objecting?

I've asked TekSystems to respond with a written explanation, and am waiting for their reply.

I suggest you talk to a lawyer and get them to interact with their compliance team.

Tek Systems have interpreted a law in a particular way. You need to explain to them your company set up, while different, complies with the law. However unless you are a lawyer or accpuntant yourself they will not believe you.

[northernladuk]

I've only just verbally accepted a contract via TekSystems and have filled in one of these forms. The agent has told me that the Compliance team are saying that I can't keep the current shareholding split! My parents have 33% each, and me 34%.

Oh dear or dear. Do we assume there is some really strange situation that warrants this here or are you in a spot of bother??

[Lance]

My parents have 33% each, and me 34%.

Can anyone tell me why they're objecting?

Because you are income shifting. Google "S660 Arctic Systems".

[Old Greg]

Because you are income shifting. Google "S660 Arctic Systems".

What if the OP marries his / her parents?

[northernladuk]

What if the OP marries his / her parents?

Then I'd think his tax situation would be the least of his problems