Mantor Limited option

[simondolan]

In my opinion, anyone getting a new "scheme" from their previous MSC/composite is likely to be the target of Revenue attack.

The downside, both from agent and contractor point of view is just too bad to even consider using anything other than own Ltd Co or PAYE umbrella.

PCG are offering the same guidance in their budget summary.

[Bluebird]

The recent 500% increase in company registrations was mainly due to composite providers (MSC’s) creating companies to transfer their contractor clients into, but Treasury have seen through this and have changed tack to focus on the small number of MSC providers rather than the thousands of individual companies.

If your provider is caught then you will be caught as well. Especially if your provider is offering or promoting some form of IR35 insurance or influencing who you bank with.

[Bluebird]

In my opinion, anyone getting a new "scheme" from their previous MSC/composite is likely to be the target of Revenue attack.

The downside, both from agent and contractor point of view is just too bad to even consider using anything other than own Ltd Co or PAYE umbrella.

PCG are offering the same guidance in their budget summary.

Problem is how will an agent know whether they are dealing with a "real" Ltd Co or one that is being "managed" by a old MSC ?

The contract will only have the ltd co name on it.

Will agent now ask you to declare who performs the management of your ltd co ? or will they wait until HMRC comes knocking or the door asking for taxes that the MSC & Contractor can't pay ?

[Ben]

In my opinion, anyone getting a new "scheme" from their previous MSC/composite is likely to be the target of Revenue attack.

The downside, both from agent and contractor point of view is just too bad to even consider using anything other than own Ltd Co or PAYE umbrella.

PCG are offering the same guidance in their budget summary.

The redefinition of MSCs announced yesterday means that you are almost certainly right. As I tried to explain above, we've held off offering anything to our contractors before the details of the budget were announced. We're now glad that we've done so. A number of providers, such as Brookson, were further down the line in terms of moving contractors to PSCs. Their homepage now redirects to one offering a scheme that purports to be compliant. I would be interested to hear your opinion on it.

I know that you offer either a PAYE umbrella or an accountacy service and that other providers are going to be pushed into either of those extremes. You must be hoping that because you already offer an accountacy service you'll be able to benefit from the budget. We see a similiar silver lining because, like yourselves, we are closely linked to a firm of accountants. In fact, we share office space, staffing, etc.

[Ben]

Problem is how will an agent know whether they are dealing with a "real" Ltd Co or one that is being "managed" by a old MSC ?

The contract will only have the ltd co name on it.

Will agent now ask you to declare who performs the management of your ltd co ? or will they wait until HMRC comes knocking or the door asking for taxes that the MSC & Contractor can't pay ?

We have already been sent questionaires that agencies want our contractor to complete and sign. They have a vareity of questions that are largely concerned with the degree of control and influence the service provider has over the contractor's company. Is the contractor the sole director, does the company have a bank account, is the contractor the only signatory, etc etc.

The question is how much the provider can help you with the management of the company.

[simondolan]

Most major agents are now doing due diligence on who they will work with. From the discussions I have had with them they simply won't work with any Company that was previously offering composites. They also ask fairly detailed questions as to the nature of the firm.

Problem is how will an agent know whether they are dealing with a "real" Ltd Co or one that is being "managed" by a old MSC ?

The contract will only have the ltd co name on it.

Will agent now ask you to declare who performs the management of your ltd co ? or will they wait until HMRC comes knocking or the door asking for taxes that the MSC & Contractor can't pay ?

[Bluebird]

Most major agents are now doing due diligence on who they will work with. From the discussions I have had with them they simply won't work with any Company that was previously offering composites. They also ask fairly detailed questions as to the nature of the firm.

So should I put an SJD logo on my CV [ that my Ltd Co ] sends to agencies ?

[simondolan]

So should I put an SJD logo on my CV [ that my Ltd Co ] sends to agencies ?

Be most happy for you to!

[Bluebird]

Be most happy for you to!

I was only half joking, I don't know whether I'm being paranoid, but it seems to me that with the EBs being so twitchy that a load of diclaimers on a CV might potentially put a cv higher up on the pile.

[malvolio]

I was only half joking, I don't know whether I'm being paranoid, but it seems to me that with the EBs being so twitchy that a load of diclaimers on a CV might potentially put a cv higher up on the pile.

We keep losing sight of the fact that it is us that provide the skills and the clients who provide the money. We really shouldn't be treating the EBs as the prime movers, they are supposed to be facilitators.

I know the current reality is that the EBs have sold themselves to the clients as the key supplier, but they aren't, we are. Let's at least keep that clear in our own heads and don't let the EBs bully you into changing your world to cover their risks.