BN66 - Time to fight back!!!

[TheGaffer]

So far I (and no-one I know at montp) have received anything other than that the scheme switched from March 12th.

Maybe the scheme does not need anything else from us?

I would love to know the details - I went to see Mr Simpson in London office but I am no wiser. These days I am more cautious and I plan to go back to ltd unless I hear something soon.

I am also desparately trying to get this information out of them. I emailed MontP again today but still nothing yet.

My contract with "the partnership" ran out a couple of days ago and the end client have offered an extension but I don't know whether to continue with MontP or go limited (until I know how the new scheme works anyway).

At the moment I am working for the client without a signed contract. Luckily I have worked for them for a while and I trust them to pay me - they actually need me more than I need them!

[Lewis]

If MTM have switched to this method, wouldn't you of expected them to issue loan agreements/require signatures ?

I cannot understand how you people hand over all your contract income to another company and have no idea what is happening. You income belongs to MTM you have no right to it! They have told you the new scheme is based on "loans", you are accepting money from them. You may not have signed a loan agreement form (yet) but I strongly suspect that you are entering into a loan agreement with them and that you 'officially' now owe them money - although I am sure they will never call it in. But you need to understand how these loans will be written off and what the tax implications for you are. Go read this thread ... http://forums.contractoruk.com/busin...anagement.html

EDIT - I am referring to the loan scheme not the one currently being challenged. It seems to me from numerous posts that a lot of MTM members are not clear on how the loan scheme works. The link shows the dangers of not understanding exactly what loan arrangement you are entering into. e.g. are they loans for life or written off when you leave MTM. You need to be clear.

[BrilloPad]

I would really really love to respond to Lewis - but I have been asked not to. So in the interests of solidarity I will let it pass...

[scott_free]

I cannot understand how you people hand over all your contract income to another company and have no idea what is happening. You income belongs to MTM you have no right to it! They have told you the new scheme is based on "loans", you are accepting money from them. You may not have signed a loan agreement form (yet) but I strongly suspect that you are entering into a loan agreement with them and that you 'officially' now owe them money - although I am sure they will never call it in. But you need to understand how these loans will be written off and what the tax implications for you are. Go read this thread ... http://forums.contractoruk.com/busin...anagement.html

yes - see my earlier post

"yes, think I want to sleep at night so I'm plumping for LTD company"

[Lewis]

I would really really love to respond to Lewis - but I have been asked not to. So in the interests of solidarity I will let it pass...

Really. That's nice. Clearly this thread doesn't welcome non MTM members even if they have a genuine interest in the topic and want to make a contribution. This will be my last post then. Good luck, I still hope you win and I hope you also all move Ltd and save yourself future stress (not that even that is completely stress free). Disapointed that you feel the need to group together and ignore people though.

[BrilloPad]

Really. That's nice. Clearly this thread doesn't welcome non MTM members even if they have a genuine interest in the topic and want to make a contribution. This will be my last post then. Good luck, I still hope you win and I hope you also all move Ltd and save yourself future stress (not that even that is completely stress free). Disapointed that you feel the need to group together and ignore people though.

We are definetly going to stick together - Mr Brannigan(hello ) should take note.

[DonkeyRhubarb]

I would really really love to respond to Lewis - but I have been asked not to. So in the interests of solidarity I will let it pass...

I think that's a bit rigid. Personally, I have always found the comments from the likes of Lewis, ASB and NotAllThere constructive. I wouldn't lump them in with certain others. I'm not mentioning their names because when ever I do they seem to pop up again! But you know who I'm talking about.

[smalldog]

to be completely honest I would never go near one of these schemes again. I think anyone who does needs to be locked up and have the key thrown away.

Why potentially put yourself through all this anguish again in say another five years, seriously, is it really worth it? I got out two years ago so dont have to worry that in the future I might get into this nasty little position again, once this ones resolved thats it, no more worry. I am all for tax position optimisiation, but not if it ages me 5 years in 5 months!!

Was I naive, YES, was I in a blind panic due to IR35 and didnt know what else to do, YES. Never again!

[BrilloPad]

I think that's a bit rigid. Personally, I have always found the comments from the likes of Lewis, ASB and NotAllThere constructive. I wouldn't lump them in with certain others. I'm not mentioning their names because when ever I do they seem to pop up again! But you know who I'm talking about.

"I cannot understand how you people hand over all your contract income to another company and have no idea what is happening."

That crosses over from helpful to trolling. How many times has it been stated that only 50 people in the UK can understand this scheme?(well Mal thinks there are 51). OK - 50 is a guesstimate.

Any helpful comments welcome for sure. I guess there is some subjectivity - personally I always found Mal's comments helpful.

[elpinar]

why do all the interlopers think we are dumb animals who have been led round by the nose and are now beating ourselves up every night weeping tears of anguish unable to function for fear and worry and getting no sleep

Fact – it is fair to assume that most people with MTM earn a fair wack and, due to the nature of their work, are of reasonable intelligence …. Ergo … most went in eyes open – we were just p’d off with IR35 where Mr B and his merry men seemed to think we should pay 53% tax in a country where the max is purported to be 40 % (53 being the 40 + the 12.8 employees NI) SO we did something (possibly radical) in the face of such unfairness.

Admittedly, some have entered and seem to have got themselves into difficulty and not provided for possible failure – for those I feel sorry…but most (as borne out by the poll) have in some way or another means to get the money if necessary - therefore we are not aging by years fretting. What we are is hacked off at the underway MR B etc etc etc have moved the goal posts…. But that doesn’t mean we are MAD to entertain future offerings – we will, I am sure, as reasonably intelligent bods evaluate what we see as the risks and make our next decision.

But to log in and tell us we’re all dumb and need our heads testing indicates (in my book) that you don’t get what its all about.