Norla EBT Loan Scheme

[ChimpMaster]

Aren't you gutted you missed out on all that lovely free money Malvolio ! It's a shame you can't turn that bitterness into something productive.

Chavvy, according to HMRC don't count your chickens until you've bought the farm.

[LondonTech]

Have Norla gone bust? I can't get a response on email or phone and their web portal's been down for nearly two weeks?

[badaboum]

I do not think so... but they have been very frustrating since the December announcement
Has anyone managed to move out from Norla? My contract finish at the end of March and I am not sure I can terminate it now and switch to a limited company...

[prozak]

I do not think so... but they have been very frustrating since the December announcement
Has anyone managed to move out from Norla? My contract finish at the end of March and I am not sure I can terminate it now and switch to a limited company...

Of course you can. Contact your agency, tell them you are not happy with your current umbrella company.

I am surprised that anyone has remained in one of these schemes.

Fair enough if you want to go back once they come up with a new plan, but to sit and wait and pay PAYE + NI + High Fees seems insane.

[meanttobeworking]

I managed to leave them, had to take payment as normal salary (so was hit with PAYE and NI on top of Norla's fee's - ouch) but still paid much less overall over my period with them, and stopped worrying about EBTs etc weeks ago, so worth it. Now running Ltd Co (easy).

[badaboum]

I'll have to pay PAYE + NI + fees on few invoices but should not be too painful as I have stopped sending them for sometimes now. Thanks

By the way, It's amazing the number of new schemes advertising they can guarantee +85% while compliant with the new law...I will ignore them this time, Limited it will be...

[prozak]

I'll have to pay PAYE + NI + fees on few invoices but should not be too painful as I have stopped sending them for sometimes now. Thanks

By the way, It's amazing the number of new schemes advertising they can guarantee +85% while compliant with the new law...I will ignore them this time, Limited it will be...

I wouldn't go with a schem offering only 85%.

90% is what you want to make it worth it.

The risk is all yours. That extra 5% is going to the scheme providers pocket.

[prozak]

I wouldn't go with a schem offering only 85%.

90% is what you want to make it worth it.

The risk is all yours. That extra 5% is going to the scheme providers pocket.

In fact even 90% is borderline I reckon.

Remember most of these schemes you end up only paying about 1% tax depending on what salary they put you on.... so 9% of your money is going in fees and covering costs...

So if the tax man cometh you are considerably worse off than PAYE+NI

[LisaContractorUmbrella]

I wouldn't go with a schem offering only 85%.

90% is what you want to make it worth it.

The risk is all yours. That extra 5% is going to the scheme providers pocket.

Why not just find a scheme that pays you to sort your finances out - you could take home 110%

[prozak]

Why not just find a scheme that pays you to sort your finances out - you could take home 110%

If you've got a scheme that pays 110% ... I'm all ears...



Most amused by the FUD on your website....