References from Kane Services

[ceimes]

Hi all,

I'm new to this forum and to the contractor world. I am about to start working as a contractor and someone told me about an umbrella company called Kane Services. Does anyone know something about them?

thanks

[PAG]

Hi all,

I'm new to this forum and to the contractor world. I am about to start working as a contractor and someone told me about an umbrella company called Kane Services. Does anyone know something about them?

thanks

Try http://www.nriuk.co.uk/uk-contractors.htm
I had used them. No hassel straight forward. Now I run my own company.

[ceimes]

Thank you, I will have a look.

I have seen other umbrella companies which say they can save for me up to the 88% of the salary, the way they do it is by a monthly loan with an interest of 7,5%. How legal is it? I also fear that they could ask me to pay the loan back. Do you know anything about it?

Thank you

[westredd]

that sounds dodgy. I would keep away.

ve been with an umbrella for 6 months, and ive had enough of them. Im moving to Ltd company, id suggest you do the same from the start.

[bangface]

Thank you, I will have a look.

I have seen other umbrella companies which say they can save for me up to the 88% of the salary, the way they do it is by a monthly loan with an interest of 7,5%. How legal is it? I also fear that they could ask me to pay the loan back. Do you know anything about it?

Thank you

They are providing a payment vehicle via an Employee Benefit Trust. The retention is high but the risk is far higher.

Loans are made at the discretion of a trust and yes you could potentially be asked to repay the loans during or post employment. You can with some of these providers arrange to repay the loans post employment and have them re-issued again post employment to alleviate any ongoing tax liabilty...

[malvolio]

They are providing a payment vehicle via an Employee Benefit Trust. The retention is high but the risk is far higher.

Loans are made at the discretion of a trust and yes you could potentially be asked to repay the loans during or post employment. You can with some of these providers arrange to repay the loans post employment and have them re-issued again post employment to alleviate any ongoing tax liabilty...

Basic minor detail - you still owe the tax, year on year, the liability is accumulative and it will have to be repaid when you stop. Post on here recently from someone who was presented with a £50k back-tax bill after four years...

Seriously not reccommeded for anyone with half a braincell.