Bedouin Tax Solutions

[porrker]

Not looking to continue contracting in the long term to be honest hence the reason I avoided setting up a Ltd, the initial one was taken as a route to a perm role but internal restructures put pay to that. Now I'm about to be imminently unemployed it was easier to land another contract as opposed to a perm. I had looked at the previous threads where Bedouin were discussed but they all appeared to be pretty historic, was trying to establish if there had been any developments on the use of their scheme

I think you should be telling us as you've been using the scheme....... Do they still use a trust structure?

[thebear14]

I think you should be telling us as you've been using the scheme....... Do they still use a trust structure?

As far as I'm aware yes. I went with them through a recommendation but as it's only been 6 months and I'm moving to a new contract I thought it prudent to see if anyone was aware of any developments on their legality. As most people mention their rate of retention is significantly higher than umbrellas (I'm a £250 daily rate and my total deductions are around 19%) I'm just wary about continuing if I'm going to be embarking on yet another contract. I had Oxygen360 recommended to me, anyone any thoughts on them?

[JamJarST]

As far as I'm aware yes. I went with them through a recommendation but as it's only been 6 months and I'm moving to a new contract I thought it prudent to see if anyone was aware of any developments on their legality. As most people mention their rate of retention is significantly higher than umbrellas (I'm a £250 daily rate and my total deductions are around 19%) I'm just wary about continuing if I'm going to be embarking on yet another contract. I had Oxygen360 recommended to me, anyone any thoughts on them?

Have you looked at their website?
breathe easy
It's a joke, I would steer well clear based on that alone!

[porrker]

As far as I'm aware yes. I went with them through a recommendation but as it's only been 6 months and I'm moving to a new contract I thought it prudent to see if anyone was aware of any developments on their legality. As most people mention their rate of retention is significantly higher than umbrellas (I'm a £250 daily rate and my total deductions are around 19%) I'm just wary about continuing if I'm going to be embarking on yet another contract. I had Oxygen360 recommended to me, anyone any thoughts on them?

I can't believe you joined a high retention scheme without understanding the mechanics and potential ongoing consequences of using such a scheme. Yes it's currently legal but does it use the law in the way its meant to be followed.. who knows... If you carry on with the scheme find out how it works and what the ongoing risks are....

[LisaContractorUmbrella]

As far as I'm aware yes. I went with them through a recommendation but as it's only been 6 months and I'm moving to a new contract I thought it prudent to see if anyone was aware of any developments on their legality. As most people mention their rate of retention is significantly higher than umbrellas (I'm a £250 daily rate and my total deductions are around 19%) I'm just wary about continuing if I'm going to be embarking on yet another contract. I had Oxygen360 recommended to me, anyone any thoughts on them?

Standard income tax is 20% - without any national insurance contributions you are managing to pay less than that. Try typing 'tax avoidance' into Google News and look at the entries even for the last 24 hours and then revisit the subject.

[thebear14]

I can't believe you joined a high retention scheme without understanding the mechanics and potential ongoing consequences of using such a scheme. Yes it's currently legal but does it use the law in the way its meant to be followed.. who knows... If you carry on with the scheme find out how it works and what the ongoing risks are....

Totally agree I've been very ignorant on it, my initial estimation was to only be contracting a couple of months before moving to perm which is why I took the recommendation at face value and went with Bedouin. Based on all the attention they and similar schemes are receiving I was certainly looking to jump ship to typical umbrella before I would be liable for a significant tax accumulation, as mentioned most bedouin posts are quite historic so wanted to see if there had been any changes before moving elsewhere.

[Emigre]

Standard income tax is 20% - without any national insurance contributions you are managing to pay less than that. Try typing 'tax avoidance' into Google News and look at the entries even for the last 24 hours and then revisit the subject.

We need more info here... OP states that his deductions are 19% on an income of say £55k (220 days).

He would be better off with a Ltd Co.

[porrker]

As most people mention their rate of retention is significantly higher than umbrellas (I'm a £250 daily rate and my total deductions are around 19%)

Ask for your holiday pay and you will see your retention go up...

[thebear14]

Ask for your holiday pay and you will see your retention go up...

Very true, as I think we've established that waving cheerio to Bedouin would be the smart thing to do is there any recommendations on a reputable umbrella who's weekly/monthly fees aren't too high? Next contract is 4 - 6 months and would then be looking for perm roles but taking contract work in the interim so ideally wanted to avoid the creation of a Ltd.

[porrker]

Very true, as I think we've established that waving cheerio to Bedouin would be the smart thing to do is there any recommendations on a reputable umbrella who's weekly/monthly fees aren't too high? Next contract is 4 - 6 months and would then be looking for perm roles but taking contract work in the interim so ideally wanted to avoid the creation of a Ltd.

I'm being serious! They deduct holiday pay it's a couple percent per month. You will pay tax on it.