IS this Legal?

[ASB]

cartlidgea

I'm not sure I would base these decisions based on the salesmen. However you have repeatly said you don't want the hassle of doing things yourself (fair enough in my book). On that basis if you are happy with NLL then go for it, but....

They may have all the insurances in the world. They may even cover some things, but when it all goes to hell in a handcart tit is *you* that gets attacked by HMRC not *them*. Ultimately you are relying on somebody insuring against your risk on terms you don't know and expecting to be fully covered.

Also lets assume they do turn out to be an MSC provider, then there is a sucessful revenue challenge. Ok, the insurance might kick in for the first couple, but will they be able to afford the premiums when HMRC go after each individual client (should that happen). Just maybe the insurance won't turn out to be a panecea against all ills.

I'm not saying don't use them or similar. Just be sure to understand what you're getting and what the insurance is really worth.

[TheRightStuff]

I think you should stop now. You have no grasp of the situation, and are relying on salesmen to advise you. Bad idea.

Since you are determined to pick a bad umbrella with frankly unrealistic claims, I suggest you cut your risks and get your own company and a decent accountant to help you out. The operating overhead is around 2 hours a month, hardly a major problem, you get to keep more money than any legal umbrella system will allow, and you can probably put yourself safely outside IR35, not that that's a major consideration these days.

Or if you choose to ignore that advice, and the other suggestions made in this thread, go do whatever the hell you want and stop asking us damn stupid questions. You want to be a contractor, make your own decisions and assess your own risks.

your really not getting any are you.

[malvolio]

Check the time of that post, which might explain the grumpiness!

But my tolerance level of people claiming the miracle cure is wearing thin, I agree. The rules are clear, as are the economic realities, I don't need some shiny new know-nothing telling me I'm doing it wrong nor misleading the other know-nothings.

[TheRightStuff]

Check the time of that post, which might explain the grumpiness!

But my tolerance level of people claiming the miracle cure is wearing thin, I agree. The rules are clear, as are the economic realities, I don't need some shiny new know-nothing telling me I'm doing it wrong nor misleading the other know-nothings.

checked time (00:51 am). does that not emphasis my point.
However, you are right. LTD is the only way. It would be nice to simply send off an invoice/timesheet and have the rest done for you but I would prefer to spend a couple of hrs a month and have a ltd company. It's a no brainer.

Everyone = Although Malvolio can be short, a bit like whats inside his pants, listen to what he says. I like to wind him up now and then, although I'm sure it doesn't work, but he does talk sense.

[TheRightStuff]

checked time (00:51 am). does that not emphasis my point.
However, you are right. LTD is the only way. It would be nice to simply send off an invoice/timesheet and have the rest done for you but I would prefer to spend a couple of hrs a month and have a ltd company. It's a no brainer.

Everyone = Although Malvolio can be short, a bit like whats inside his pants, listen to what he says. I like to wind him up now and then, although I'm sure it doesn't work, but he does talk sense.

what's wrong with me today?????

[Lewis]

they cant even go bust they have insurance in place

Been thinking .... I want some of this insurance action. Just think of the possibilities, borrow loads, pay yourself such a rediculous salary that the company has not money left for HMRC, go bust. Claim on insurance. Great!

Surely such a policy does not exist.

[cartlidgea]

Okay you lot are set against umbrellas and think the only way is limited. 2 questions then, paying a low salary and the rest in dividends, some of you are saying this is okay and legal and the rest are saying this is tax avoidance what is the score....I thought this is legal ir cant do anything can they?

Upton Accountants look value for money and offer a good service anyone used them before or can u suggest a good accountancy service that is outside the msc legislation

[Gonzo]

Okay you lot are set against umbrellas and think the only way is limited. 2 questions then, paying a low salary and the rest in dividends, some of you are saying this is okay and legal and the rest are saying this is tax avoidance what is the score....I thought this is legal ir cant do anything can they?

The whole IR35 thing has passed you by hasn't it?

What line of work are you in?

[Old Greg]

Okay you lot are set against umbrellas and think the only way is limited. 2 questions then, paying a low salary and the rest in dividends, some of you are saying this is okay and legal and the rest are saying this is tax avoidance what is the score....I thought this is legal ir cant do anything can they?

Upton Accountants look value for money and offer a good service anyone used them before or can u suggest a good accountancy service that is outside the msc legislation

Perhaps it is okay, legal AND tax avoidance.

[Ardesco]

Okay you lot are set against umbrellas and think the only way is limited. 2 questions then, paying a low salary and the rest in dividends, some of you are saying this is okay and legal and the rest are saying this is tax avoidance what is the score....I thought this is legal ir cant do anything can they?

Upton Accountants look value for money and offer a good service anyone used them before or can u suggest a good accountancy service that is outside the msc legislation

Tax Avoidance is legal, it is tax evasion that is not

HTH

(Not that I think it has helped as i'm sure you still won't get it after looking at your previous responses)