Procorre consulting

[eek]

Does anyone know if Procorre Consulting is associated with Procorre Finance?

Don't know as there is only a single result for "Procorre Finance" on google which links to the original thread on here. I reckon there must be a relationship as the business model sounds similar but there is incredibly little to go on..

[Procorre]

Dear all
Just to clarify - Procorre’s role is a consultancy supplying consultants to projects.

How a consultant is paid is an administrative function based on the work they will be doing, where it is, who they are working for and how they will be paying for the consultant’s services.

Each consultant who works with us has an individual, appropriate and legal payment process in place which will be discussed with them in light of the above circumstances.

Speculation relating to one person or another’s situation without the full facts around this will be neither accurate, relevant or indeed appropriate.

Thanks for taking the time to read this.

[LisaContractorUmbrella]

Dear all
Just to clarify - Procorre’s role is a consultancy supplying consultants to projects.

How a consultant is paid is an administrative function based on the work they will be doing, where it is, who they are working for and how they will be paying for the consultant’s services.

Each consultant who works with us has an individual, appropriate and legal payment process in place which will be discussed with them in light of the above circumstances.

Speculation relating to one person or another’s situation without the full facts around this will be neither accurate, relevant or indeed appropriate.

Thanks for taking the time to read this.

I think you have managed to address precisely none of the concerns raised in this thread. What 'appropriate and legal payment processes' do you use?

[eek]

I think you have managed to address precisely none of the concerns raised in this thread. What 'appropriate and legal payment processes' do you use?

and are those legal payment processes totally and utterly (100%) accepted by HMRC....

[uk contractor]

There are several 100% HMRC compliant 100% legit UK Based Umbrella Accountants who comply with all current UK tax laws onshore = 82-84% take home salary.

When I asked Procorre a few months ago they were deliberately vague & refused to disclose anymore info to me until I signed up with them so draw your own conclusions from that!

[LisaContractorUmbrella]

There are several 100% HMRC compliant 100% legit UK Based Umbrella Accountants who comply with all current UK tax laws onshore = 82-84% take home salary.

When I asked Procorre a few months ago they were deliberately vague on how "onshore" they are & refused to disclose anymore info to me until I signed up with them so draw your own conclusions from that!

No there aren't

[eek]

No there aren't

As a limited company it may just about be doable. I think if I include expenses as part of my take home pay (which makes sense if you compare them to a permanent job, and it allows me to do the figures without looking at my accounts) I paid 17% in corporation tax last year so took home 83%.. That could have been a percentage or 3 higher if I put more in my pension...

So a properly set up limited company can (if you are married, and not on a £600+ daily rate) provide a very decent return even when you are very conservative with your expense policy.

You are right that a fully legal UK umbrella cannot but a legal UK company could....

[LisaContractorUmbrella]

As a limited company it may just about be doable. I think if I include expenses as part of my take home pay (which makes sense if you compare them to a permanent job, and it allows me to do the figures without looking at my accounts) I paid 17% in corporation tax last year so took home 83%.. That could have been a percentage or 3 higher if I put more in my pension...

So a properly set up limited company can (if you are married, and not on a £600+ daily rate) provide a very decent return even when you are very conservative with your expense policy.

You are right that a fully legal UK umbrella cannot but a legal UK company could....

Yep as you say, just about doable under a PSC unless you're a higher rate taxpayer but 80+% through an umbrella is not going to happen unless you're on a low rate and have high expenses.

[Eirikur]

Some extracts from a BS Email they sent me:

The Procorre philosophy is to look after you by offering you something extra: better personal and professional opportunities. As part of Procorre you gain the benefits that come with membership of a global consultancy, but you also retain all of the freedoms that you are used to.

Your own contribution to Procorre’s growth, taking on new projects and introducing exceptional consultants to Procorre benefits, will also help you to acquire additional income and asset value. At the same time you will develop your entitlement to many benefits – these include group BUPA cover, wealth management support, mortgage services, pensions and a range of insurance products to protect you and your family. The Project Income Guarantee is an industry first, which protects your income from a project and your agent’s margin – helping you to stand out as a desirable candidate for new roles.



· Your Project Income is your Net Take-Home from your consultancy work.

· Profit share 1 becomes available at the end of your first year and increases every year.

· Profit share 2 is indexed to your level of introductions to the organisation and the residual income realised from that network of introductions.

· Your Business Expense allowance becomes available as you commence billing with the organisation.

· Your Asset value is the value attached to your activities within the organisation, much like an equity share.

[uk contractor]

No there aren't

My Limited company accounts over many years now tell me otherwise if your not taking home 82-84% using a UK based HMRC compliant accountant then your doing something seriously wrong!