Help - The umbrella i work through is not paying me and has closed down !

[SueEllen]

Is this through a ltd co or other strategy? Please don't sell me another umbrella co though

I can see an element of greed sets in with some people (both behind the scenes of these companies and the people signing up) to get the most money and not fully understanding the risks.

I agree completely that its risky, but some people enjoy that when its good, but some not so much when it goes south to bahamas or some country with no extradition treaty with the UK...

Running a limited you can get a good return it depends on things like your travel and subsistence expenses, and whether you have a non-working spouse.

Plus as long as you don't let anyone apart from you near your business bank account* you know the money isn't going walking.

*That includes a spouse or partner. Too many people split up and get divorced.

[Fred Bloggs]

Expenses should not be counted for retention FB they are expenses , straight in straight out

Except when it is legitimate mileage claims, otherwise, I agree with you 100%.

[Fred Bloggs]

Is this through a ltd co or other strategy? Please don't sell me another umbrella co though

I can see an element of greed sets in with some people (both behind the scenes of these companies and the people signing up) to get the most money and not fully understanding the risks.

I agree completely that its risky, but some people enjoy that when its good, but some not so much when it goes south to bahamas or some country with no extradition treaty with the UK...

All will be revealed if you go to the website I referred to above. But I was using the outside IR35 calculator for a Ltd Co with a 50% dividend spilt.

[Pondlife]

maikub, these companies offering offshore schemes are not traditional umbrellas. With a traditional umbrella like Parasol, Contractor Umbrella etc there is no 'loan', 'forex' or any other 'employed in a country you've never been to' arrangement.

Do not confuse some of these offerings as legitimate umbrella companies. They're not.

A traditional umbrella is a legit, low risk solution for some contractors.

The main caveat being that any 3rd party that sits between you and your money could conceivably do a runner.

[cp4825]

write2vin have you managed to get anywhere mate?

[cojak]

I'm going to remind you all once more this is NOT a generic Umbrella/EBT/Ltd thread.

Keep it on-topic or I'll start deleting posts and handing out infractions (which I'm quite good at).

[beysey]

Contact Me

Mod Note:

Beysey, I do not wish to have to review your every post.

It will be much easier for me to ban you.

Please do not do it again.

[pjb8856]

police action ?

Anyone heard anything back from the police regarding this ? Are they treating it seriously ?

[Contractor UK]

Front page article

Roger Sinclair and Sid Home have offered some comment on this which may be helpful: Tract Management

[maikub]

Anyone heard anything back from the police regarding this ? Are they treating it seriously ?

Call: 0845 8 505 505 - Quote crime Ref: CM3870914/11

Thames valley police had a number of complaints and the more people who talk to them telling them whats happened the quicker they will do something.

If you want something to happen, call them now.

There is also a facebook group you can join to find out more as well.