Just to agree with most of the posters urging caution in signing up with these people, advice from my accountant was to give them a wide berth.
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My View
Hi All
For the benefit of myself and everyone, I attended an event held by Procorre last night in London. I was suspicious from the day I heard about them, thought to visit them in person.
So in nutshell this is what I found out last night'
1) You go in the market, find your own contract through recruitment agencies or personal connections
2) You sign an agreement with Procorre that all money you charge your client is "NOT YOUR MONEY" but belongs to Procorre
3) You transfer all your hard earned money to Singapore (an offshore account)
4) Procorre transfers £43k back into your Ltd Company account which you "legally" declare as your company income and pay tax etc (This happens until Procorre wants, remember you have already signed legal agreement that "ALL MONEY YOU RECEIVE FROM YOUR CONTRACT IS NOT YOUR MONEY")
5) Procorre lends you some money into your personal account as LLP MEMBER LOAN (So Procorre LENDS you your MONEY which they can demand anytime)
6) Procorre uploads some cash on Debit Card which you can use for expenses
7) Eventually either you continue your relation with Procorre and your LOAN from Procorre keeps mounting to over 100K in few years or you close your company and Procorre "Writes Off" the load (If they want to, they dont have to)
So, my Verdict;
1) You KNOW from start of relationship that all this SETUP is to dodge TAX using offshore LLP, getting LOAN from LLP knowing that your loan shall be Written Off
2) You KNOW that your Ltd company does act as Vehicle to transfer funds offshore then return back some funds to stay within Tax Threshold
3) You KNOW that you signed agreement with Procorre that all your hard earned contract income legally DOES NOT belong to you, you are on MERCY of Procorre to transfer some money back
4) Procorre DOES NOT have any pool of projects or they are NOT on any PSL (Preferred Supplier List) for any big names in UK at all. You find your own contracts and then hand over everything to Procorre
5) Legal (Until HMRC finds out), Ethical (Not from day one), Income Reliability (On mercy of Procorre), I would join then (NOT IN MILLION YEARS)
Best Regards -
Procorre
Hello
In response to some inaccurate comments on this forum we would like to reassure you that Procorre is a trusted global professional services consultancy, our values underpin everything we do and ensure we work to the benefit of clients, consultants and preferred suppliers.
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We are always available to answer any questions you might have and would ask that you please get in touch with us via our dedicated helpdesk: [email protected]
This inbox is monitored during working hours so any queries or concerns will be answered as quickly as possible.
Kind regards
ProcorreComment
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Do not think that you can turn this thread into an advertising platform. You will be heavily moderated and will be allowed to answer posters questions and defend yourself when it is appropriate.Originally posted by Procorre View Post"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Procorre
Procorre have recently placed consultants on a Natural Gas project in <mod snip>Comment
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The greatest trick the devil ever pulled was convincing the world that he didn't existComment
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