Mantor Limited option

**jh0711** · 21 March 2007, 11:43

run away run away

it is just a contrived solution to make it look they are not an MSC when they really are - it may be that the plan is to set up all of those using them with PSC's but this is no easy undertaking so i imagine they will 'wing' it until either

a) They sort it all out and everyone is on a PSC
b) HMRC get wind of it and pay them a visit.

your choice but make sure you save your pennies for when tax man comes knocking.

probably

**mictech** · 21 March 2007, 14:06

Thank jh,

we have also now found out that the new company is directed by another limited company a.k.a. mantor.

How can you manage your company if your not director. Everyone steer clear of these cowboys and get a real company.

**Ben** · 21 March 2007, 16:35

The information given has not been vague: it has been provisional. As you may or may not know, the budget was only announced a few hours ago. The systems mantor are putting in place to make sure we are compliant have not been finalised and will not be until our lawyers complete their review. Our contractors will be moved to either their own limited companies or our umbrella service in time for April 6th.

I will, however, address all of your points. You're somewhat misinfomed on several key issues. A number of your concerns regard things that obviously will happen but haven't yet. The contractor in question had his company set up early, at his request, because he was keen to have the name he wanted.

1. The contractor will get a certificate of incorporation as soon as we receive our copy. He's the first to ask for it because his is the first PSC we've set up.

2. His company is effectively outsourcing the invoicing to us. His agency or whoever will receive invoices from his company.

3. This is factually incorrect. The old managed service companies (including the one the contractor is currently working in) will cease trading. We gave him a new off the shelf company and changed the name to one of his choice.

When the contractor becomes a director of his company he will need to sign the necessary documentation, provide forms of ID, etc.

4. We have several contractors with Hays.

5. The limited company has it's own bank account.

6. All of our contractors will have the oppertunity to have their contracts checked and to take out IR35 insurance. We are recommending that they do so.

I know that you can't advertise on this site. I don't mean to. However, I feel I should be able to respond to questions and criticisms.

**Ben** · 21 March 2007, 16:41

Originally posted by mictech

Thank jh,

we have also now found out that the new company is directed by another limited company a.k.a. mantor.

How can you manage your company if your not director. Everyone steer clear of these cowboys and get a real company.

It's a very common way to set up companies in bulk. Thet are set up with a temporary director. When a contractor wishes to use the company he signs the paper work necessary to become the director. The initial director resigns. The contractor is also made the sole shareholder. It's his company and he can do what he likes with it. If and when he leaves Mantor it'll still be his company. If he wants to manage every thing himself he can do - it's just that he'd become an accountacy client rather than someone we just handle the payroll for.

**Ben** · 21 March 2007, 16:43

Originally posted by jh0711

run away run away

it is just a contrived solution to make it look they are not an MSC when they really are - it may be that the plan is to set up all of those using them with PSC's but this is no easy undertaking so i imagine they will 'wing' it until either

a) They sort it all out and everyone is on a PSC
b) HMRC get wind of it and pay them a visit.

your choice but make sure you save your pennies for when tax man comes knocking.

probably

Setting up everyone with their own PSCs does take time. And hasn't been done yet. But, with just a little bit of overtime, everyone who wants their own limited company shall have one.

No MSC provider will dare wing it because under the new rules they are liable for the tax too.

**jh0711** · 21 March 2007, 16:46

good luck with it!!!!

I think the problem with MSC providers is that many of them knew what they we doing was 'dodgy' but even after the pre budget speech they carried on doing it hoping it would just go away (Giant were still pushing people onto their MSC option last week ffs)

I guess people have lost confidence in this sort of thing is all.

the vast majority of people do not want worries or stress they just wanna do a job and get paid as much as possible.

**mictech** · 21 March 2007, 17:10

Last minute does not not cut it with me. I have had my company for over a week now (it took two days from me signing the paperwork) and its in my name with certificate and shares etc etc.

The MSC is was with lost my business by not keeping me informed and when they finally came up with a plan it was going to cost a fortune.

Hays told me yesterday they needed a report from companies house stating I was director of my Ltd Co before they could send out my new contract. Though they should have requested it themselve real, but I did it for them.

Mantors people with hays, may find when they want there contracts renew, will need to wait untill they do the paperwork. This has been on the cards since December, when will they get round to it!

I am glad I never used Mantor.

**ratewhore** · 21 March 2007, 17:33

give him a break - at least he came on here to answer your comments and has done so reasonably imho.

As for Hays, I've never been asked to provide evidence I am the Director of my Ltd (beyond signing the contract in my position as Director) and if asked I would tell them to wind their necks in...

**PAG** · 22 March 2007, 12:42

I think Hays is well out of order.

Mantor Limited option