Talent Resource Management

[malvolio]

What's the point of the loan then? the whole idea is that you do not pay taxes on a loan - if you do then not only are you paying taxes but you're stuck with a loan too???
Out of interest how much tax do you pay? corporate tax or NI&Income tax? because it would sound pretty unfeasible from a financial point of view as you would end up paying income tax on your whole salary ???

You're missing one minor detail. If you gain a benefit from the loan, by having use of the money for example, then that benefit is taxable. At some point, you'll have to pay up...

[zohan]

Invoices with TRM

Has anyone raised any invoices with TRM after receiving the letter from Redding (Or) Anyone received money from TRM after the Redding Letter?

I can see that we are debating about the situation, but what is the way forward ?

Should we continue to raise invoices until we resolve the Issue with TRM (Or) Stop the contract with TRM and have your own ltd company

[gd87]

I had an invoice raised which crossed in the post with receiving my loan letter. I had a text from Batchworth claiming they had made the BACS payment but no payment received yet

[abarnes]

TRM Invoices

Has anyone raised any invoices with TRM after receiving the letter from Redding (Or) Anyone received money from TRM after the Redding Letter?

I can see that we are debating about the situation, but what is the way forward ?

Should we continue to raise invoices until we resolve the Issue with TRM (Or) Stop the contract with TRM and have your own ltd company

I am still raising invoices but i am eagerly awaiting TRM's response.

I like most other people have refused to sign any paperwork. JonC i am new to this forum but count me in for any support or action against TRM.

[architect]

Has anyone raised any invoices with TRM after receiving the letter from Redding (Or) Anyone received money from TRM after the Redding Letter?

I can see that we are debating about the situation, but what is the way forward ?

Should we continue to raise invoices until we resolve the Issue with TRM (Or) Stop the contract with TRM and have your own ltd company

I asked this question earlier but no one replied.

Earlier I asked if it is possible to switch your umbrella company midway during your contract. My agency says it is not possible while the contract is active but can be done at the time of extension. They may be saying it because of the hassles that are involved in terminating their contract with Batchworth as they need to abide by the contract termination clause.

I will suggest if you can easily terminate your contract with TRM while the contract is still active, do so by all means and switch over to a better option (BTW what that better option will be??)

The questions we need to ask now are:

1. What should we do if it is not easily possible to terminate the contract midway and you are at a risk of loosing your invoice money if funds are released to TRM?

2. Are there any other options available to us?

[zohan]

I had an invoice raised which crossed in the post with receiving my loan letter. I had a text from Batchworth claiming they had made the BACS payment but no payment received yet

When did you get the text message? Usually you should receive the payment within 2 days of the message. If its more that 2 days and you have'nt received the funds in your bank, then I think its serious problems.....

[ContractorSeven]

I switched umbrella companies while in a contract (to TRM, unfortunately!). There's nothing in your contract with TRM that says you can't - I think it's down to your agency. Mine was fine with it.

I'm not currently with TRM, but if I was then I don't think I'd drop them right now. You're more likely to get a resolution to this loan stuff and answers to your questions while they are getting money from you. When it comes to people like me who aren't currently using them... well, I doubt that they're in any rush to answer our questions.

[zohan]

I am still raising invoices but i am eagerly awaiting TRM's response.

I like most other people have refused to sign any paperwork. JonC i am new to this forum but count me in for any support or action against TRM.

Did you speak with TRM after raising the Invoice? Have they expressed anything ? Last week when I called up my payroll coordinator she said there is no change in the payment process and everything should be normal

[Ruprect]

Hey Dark Knight and argoran, thanks for the posts - it's pretty bad receiving a letter asking for 50 Gs on a rainy Friday morning and so it's nice to be able to get some info.

Dark Knight - have your solicitors said anything definite regarding these loans? The letter looks very dodgy, there isn't even a name of someone in the company on my letter (just a signature) so I am thinking that this is a shady attempt to get the loans "repaid." If not, well...it is worrying either way. I agree that the worst case scenario would be having to pay the tax back, which would be ok.

We can see how things progress, but I would be willing to pool resources with other people facing TRM/Redding.

Thanks again

the worst case scenario would be having to pay the tax, which would be ok


Very generous of you.

[foxyatwandm]

Talent Resource Management

JonC:

I've just registered with this Contractor UK website and so it is all new to me and I am having a problem figuring out how to send messages etc and since I am not very technically astute, I may get discouraged and give up if it gets to be too difficult. Basically, I've received a loan reassignment letter from Redding Finance Capital and am naturally reluctant to sign it. Having seen your posts on the forum on this subject I would like to be able to talk to you about what progress you are making and how I can help you out. Since I'm not sure about using this website to keep in touch with you, I'd appreciate it if you could give me a call at home at any time on xxx xxxx xxxx so we can talk a little bit about the Redding problem and about how to use this site to communicate.

Thanks a million

Foxy

Delighted this is getting some attention and some momentum.

If you are a concerned party who is a victim of this and want to join Jon's little band of concerned citizens please send him an email or a PM (Personal Message). If you do not know how to, contact the Administrator of this website who will upgrade your access that will allow you to do so.

So hendrix12 and Monkey Trousers, please contact him.

We have already learned a lot, gathered more and more information & been able to pool our evidence which will help build a sizable case against the Futurelink Group/Batchworth Management (Talent Resource Management) for dubious business practice which we can offer the Revenue should it be necessary, or to any potential creditor, should one arise.

That is not saying that it will arise, but it is clear there are serious questions to be answered.

Is this "loan" assignable to a third party? Is it even a loan at all when Members have it in writing from the Director himself that "the loan element is not something you will ever be asked or forced to pay back", and that it would eventually written off against future dividends?

There is no doubt from the letters now seen which have been sent to Members that there has been a lot of misleading and misinformation published by this Group of Companies from the top down which should help prove our innocence in this matter. Whether it is admissable, relevant, legal & binding or can be taken into consideration when the chips are down will require expert legal opinion which wont come cheap.

One thing is clear. Membership is growing and together we can pool resources and afford to fight any legal action brought against us.