prosperity4 - What do you think?

**rootsnall** · 4 May 2005, 12:02

This has been covered many times so have a look at old posts, the concensus seems to be avoid Prosperity 4 like the plague. The fact they charge some ludicrous fee for doing the same job as someone else does for a fraction of the cost should be enough to avoid them. I've used Parasol IT and they were OK. I'm back using a Limited Company as the cost and hastle involved isn't much more than using an umbrella and it gives you more flexibility to juggle your money. I'm paying a fixed fee of £55 a month with a free Ltd Co if you do 12 months, there are quite a few similar deals around with smaller accountants. I'm using Nixon Williams based in Chorley and they've been good over a number of years, you deal with everything through the post or over the phone.

**malvolio** · 4 May 2005, 12:03

prosperity4 - What do you think?

"Touching", "bargepoles" and "not" seem to be appropriate keywords as far as P4 and this board are concerned. As a general rule, do not trust anything that seems to offer significantly better returns than the average.

I am of the opinion that Ltd Co is the way to go, but for a new starter to freelancing, umbrellas do offer a lot of protection while you learn the ropes.

Download the guide to freelancing from www.pcg.org.uk, which will give you a good briefing on the whole subject. Then you should be able to ask some more focused questions.

**CraigRider** · 4 May 2005, 14:51

Look to your left, imagine P4 on the horizon. Look to your right. Run like buggery that way!

**Underscore** · 4 May 2005, 14:58

I'm currently Ltd - the only downside being having to hold x% of your monies in the business account until the tax man comes (and paying for an accountant £80 per month). Currently looking at moving to Payscheme Plus - who offer up to 90% return.....I like the idea of knowing exactly how much I can spend/save etc every month.

**rebekkaloos** · 4 May 2005, 15:08

underscore, did you get my ezmessage?

**Underscore** · 4 May 2005, 15:55

I did indeed - thanks

Kicking off the process now.....

**dreameR78** · 6 May 2005, 10:01

Thanks for this.

What is PayschemePlus and what do you mean by 90& return?! Return of what?!

**Underscore** · 6 May 2005, 10:37

90% of invoice. Say you invoice £10,000 in a month - they would hope to let you take home £9k in your pocket....

**malvolio** · 6 May 2005, 11:07

Oh Jesus, another one...

And just how do you think they manage that while staying within the law? Did you not notice the bit in the last budget about retrospective legislation against tax avoidance schemes, EBTs, money exchange deals, etc., etc.?

Go ahead, it's your money and your livelihood. The basic rule to remember is that if it looks too good to be true, it probably is.

prosperity4 - What do you think?