Anyone heard of BestPay alternative to Ltd company

[TheFaQQer]

Thanks for the feedback guys but I have weighed up the options.
I'm on a short contract towards PAYE employment and I didnt want to form a Ltd co for such a period. Umbrella co's from what I can ascertain either work through onshore or offshore - you still need to invest a degree of trust in giving your money for clever accounting..

For a short-term contract, going the dodgy offshore scam tax avoidance route makes even less sense.

Good luck to you. HMRC are going to come and ream you for it, and you'll need all the luck / lubricant you can lay your hands on.

[Wanderer]

I've decided to go with BestPay, though please let me know if you know of any issues with them

I'm not familiar with the one you refer to but the issues with most of these schemes is that you earn income in the UK without paying tax on it (or a tiny percentage). Figure out your gross pay and how much tax you pay and then ask yourself how you can get away with that.

By the time HMRC come knocking, most of these schemes have disappeared into thin air meaning their guarantees mean nothing and leaving you personally with a big bill for tax, interest and penalties....

Good luck with it though, it will probably be a year or two before they catch up with you.

[Dean HD]

Thanks for the last few more constructive messages - Some of you should learn some people skills! I've put Bestpay on hold and booked a session with an accountant to advise.

[malvolio]

Thanks for the last few more constructive messages - Some of you should learn some people skills! I've put Bestpay on hold and booked a session with an accountant to advise.

To be fair, many of us have been banging this particular drum - and getting routinely shouted at for it - for many years. Our tolerance for yet another "What about this marvellous scheme?" from people who haven't looked around them is getting rather exhausted.

And it's worth noting that the level of shouting, and the number of scheme providers pointing out there is no risk, has dropped drastically since the assessments started to land on doormats.

As of now, the most efficient and risk-free model for anyone looking at long-term contracting is your own Ltd, supported by proper understanding of IR35 and PCG membership or some commercial insurance cover. But it's your money...

[Wanderer]

Thanks for the last few more constructive messages - Some of you should learn some people skills! I've put Bestpay on hold and booked a session with an accountant to advise.

The reason you were met with a fairly grumpy reception here is that we get similar questions every week or so and people grow tired of answering them.

In particular, it causes problems when noobie posters try to argue that some particular scheme is all safe and legal (which may or may not be true) or alternatively, they keep asking the question until someone tells them what they want to hear (which no one does - not seriously anyway).

[Encore]

Best name of company goes to.....

Looks like Best Pay are connected with K&B accountancy? K&B are a partner on the website.

and for best name of a accountancy, anyone come across Big Fat Bhudda! They claim to be onshore? not sure how that works!!

[eek]

The reason you were met with a fairly grumpy reception here is that we get similar questions every week or so and people grow tired of answering them.

In particular, it causes problems when noobie posters try to argue that some particular scheme is all safe and legal (which may or may not be true) or alternatively, they keep asking the question until someone tells them what they want to hear (which no one does - not seriously anyway).

I now, in all seriousness, tell people to go ahead if you think its a good idea.

I'm fed up with people arguing that its a good idea. If you have to join a forum to ask the question you clearly have doubts so why on earth are you actually thinking about going ahead with the scam.

[Clare@InTouch]

Looks like Best Pay are connected with K&B accountancy? K&B are a partner on the website.

and for best name of a accountancy, anyone come across Big Fat Bhudda! They claim to be onshore? not sure how that works!!

I saw them recently - they claim you can take home up to 93%. I think that's the highest claim I've seen to date, although there's not even a hint on their website about how they do it. It just promises to be onshore.

[DonkeyRhubarb]

Thanks for the last few more constructive messages - Some of you should learn some people skills! I've put Bestpay on hold and booked a session with an accountant to advise.

If you do decide to revisit Bestpay, have a read of some of the threads here:

HMRC Scheme Enquiries

It took HMRC several years to go after users of these schemes.

Clients of Bestpay are likely to find themselves in the same situation in a few years time.

[TheFaQQer]

I saw them recently - they claim you can take home up to 93%. I think that's the highest claim I've seen to date, although there's not even a hint on their website about how they do it. It just promises to be onshore.

they only offered me 92%