Offshore Option

[kettlehead]

why does this take ages for your posts to appear ?

coming through straight away now, typical !!!

[jmo21]

We are always honest with potential clients the problem is some in our industry aren't and as I said earlier this isn't a forum for promoting one product or another or one provider or another but posters over a long period of time have been accusing certain types of scheme providers of many things when they have a vested interest hence why vallah and I, even as competitors of each other have decided to respond. Nobody is being encouraged to look at one particular option merely to closely examine all the options
BTW through a number of companies in the group we provide various options to contractors and try to direct them to the one that best suits their needs ( including a standard umbrella or Myco )

Explain it well here and you might just get some new business.

And before you say that Hector might find it, I'm pretty sure they are clever enough to contact you offline under the pretense of being a contractor in order to get the info, as could any potential competitors you may have, so why not just post it?

[malvolio]

surely you can still set up a limited company structure so the agency pay the limited company and that company pays you as self employed ??

No. Go look up the Ramsay principle.

[LisaContractorUmbrella]

That's about the same level of understanding typically displayed by Lisa.

Vescere bracis meis

[geoff from contracta IOM]

Explain it well here and you might just get some new business.

And before you say that Hector might find it, I'm pretty sure they are clever enough to contact you offline under the pretense of being a contractor in order to get the info, as could any potential competitors you may have, so why not just post it?

As I stated earlier the info is commercially sensitive and we have what we believe is a unique product at this time, no doubt others will follow but the longer only we have it the better for business. We are not trying to be evasive in any way just delay access to our IP for competitors as I've said anyone who wants to make an enquiry will receive the full info to inform their decision we at least have some oportunity for light vetting, as for Hector we are happy on that front

[kettlehead]

No. Go look up the Ramsay principle.

the Ramsay Principle still refers to loans and trust's where the value of the loans incresed. I have been told that by operating as self employed you still declare your entire earnings and pay Income and NI on the profits after you have offset your expenses

[jmo21]

As I stated earlier the info is commercially sensitive and we have what we believe is a unique product at this time, no doubt others will follow but the longer only we have it the better for business. We are not trying to be evasive in any way just delay access to our IP for competitors as I've said anyone who wants to make an enquiry will receive the full info to inform their decision we at least have some oportunity for light vetting, as for Hector we are happy on that front

You'll be getting a call from a Mr Victor Allah soon....

[malvolio]

the Ramsay Principle still refers to loans and trust's where the value of the loans incresed. I have been told that by operating as self employed you still declare your entire earnings and pay Income and NI on the profits after you have offset your expenses

No, the Ramsay Principle is the one that HMRC use to look through any arrangement that has no other business purpose than to avoid the payment of taxes. It's lurks in the background of IR35, but is more commonly used to take apart convoluted chains of intermediaries that are meant to hide where the money goes.

[Wanderer]

if there is so much risk with these types of schemes why doesnt everyone just simply operate as a self employed person, offset their expenses and reduce the tax that way ??

Generally agencies won't engage workers on a "self employed" basis because they are afraid that if they place a worker on a long term contract then they may eventually claim employment rights (sick, holiday, redundancy etc).

Workers are pretty much forced to either form a limited company or join an umbrella.

Or am I missing something here?

[NotAllThere]

why does this take ages for your posts to appear ?

Because your posts were moderated before being allowed through, as you were a brand new newbie.

Explain it well here and you might just get some new business.

And before you say that Hector might find it, I'm pretty sure they are clever enough to contact you offline under the pretense of being a contractor in order to get the info, as could any potential competitors you may have, so why not just post it?

Exactly. On the one hand "We can't publish the details here, because it's commercially confidential". On the other hand, "Anyone can phone up and get full details".

Here's some specific questions.

1. How do I know that I'll be given the loan when I ask for it?
2. How do I know that I'll not have to repay the loan?
3. If I get investigated, it's nice to know you'll pay my legal fees - but if I lose, will you pay the tax (and penalties) that I suddenly owe because your QC's advice turned out to be utterly worthless?