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New contract clauses to cover Transfer of Debt risk etc...

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    New contract clauses to cover Transfer of Debt risk etc...

    Got an extension offer today, agent (who has been fine so far) gives me some cagey bull about ITEPA and the changes that agents need to make this year with the transfer of debt provision etc, yada yada.

    So I wait for the paperwork and the contract has gone back to include all the dodgy clauses that I negotiated out originally (OK he may have sent me the off the shelf version they got from WH Smith and I could renegotiate along the lines of the original contract).

    There were two attachments, one, a questionnaire for my accountant asking for all sorts of assurances about their business model and practice and wanting assurances about future conduct and another with the same stuff for me, some of which you would expect to be there and much that they already have like VAT number, bank account number, but lots else besides, much of which has absolutely nothing to do with them and would be considered more of a 'poking your nose to cover your rear end' nature rather than due diligence.

    Yes, I will get all of it reviewed as always, (if they show any signs of movement on it - not going to waste money) but is anyone else getting this kind of rubbish? It is absolutely OTT and I am sure their lawyers are laughing all the way to the bank at them.

    Upshot is, take it or leave it. And I most certainly will

    I am just interested in whether many of us are experiencing this type of issue? Here is the link they sent to justify it and it seems to me to be a crazy gut reaction. http://www.recruiter.co.uk/news/2013...-tax-loophole/

    TBH I would be sceptical of any advice given out on a rec web site by Giant but hey....
    Last edited by tractor; 22 May 2014, 20:03. Reason: The missing link :)

    #2
    Link?
    "You’re just a bad memory who doesn’t know when to go away" JR

    Comment


      #3
      The legislation surrounding false self-employment refers only to sole traders not Ltd Co contractors

      HTH
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      Comment


        #4
        If you're a PCG member (and if you aren't, why aren't you... ), there's a response to send to your agency if you get this kind of request and explains to them in words of one syllable why they're wrong. It's going to REC and APSCo plus a pile of agencies.. It's currently on the Client /Agency board on their forums, but the more copies that re sent the better.

        And if you aren't a member, of course, either join up or wait for someone else to do it for you!
        Blog? What blog...?

        Comment


          #5
          ..

          Originally posted by LisaContractorUmbrella View Post
          The legislation surrounding false self-employment refers only to sole traders not Ltd Co contractors

          HTH
          I understand that but they have been persuaded that there is a potential loophole allowing LTDs to sneak in the self employed tax evader into the equation by substitution and that HMRC will visit their wrath on them so they paid their lawyers a bazillion quid to provide a due diligence process which includes getting the contractor to provide a questionnaire to their accountant/brolly/financial advisor that expects them to provide muliples of assurances over their (your accountants) business model WTF including assurances that they don't provide what are normal accountancy services such as Company Secretarial etc. My accountant would laugh if I gave it to him I suspect, I doubt he would fill it in.

          Clearly (I spoke to the MD today who called me when I told them to take a running jump), their lawyers have frightened them into this when the simple answer would have been to use a clause in the contract banning self-employed/LLP substitutes.

          So the upshot is....I unboomed myself in advance. I don't really care, I know most agents recruiters have a hard time understanding anything remotely complex but their MD has well and truly lost the plot which I find strange for a big player who is not one of the usual suspects. To be fair, they have been fine in all other respects, pay on time etc but they have gone overboard here.

          Comment


            #6
            ....

            Originally posted by malvolio View Post
            If you're a PCG member (and if you aren't, why aren't you... ), there's a response to send to your agency if you get this kind of request and explains to them in words of one syllable why they're wrong. It's going to REC and APSCo plus a pile of agencies.. It's currently on the Client /Agency board on their forums, but the more copies that re sent the better.

            And if you aren't a member, of course, either join up or wait for someone else to do it for you!
            I was there with my donation in the first instance I am not a member because I got a little fed up a while ago and didn't renew. Not everyone has a b2b model or need for it and I have never had a contract offer where I would want to opt out yet. In fact, IIRC in 2004 I paid for half a year's membership with the winnings from a Tarbera tip and I rarely gamble.

            Praps I should rejoin.
            Last edited by tractor; 23 May 2014, 17:47.

            Comment


              #7
              Originally posted by tractor View Post
              I was there with my donation in the first instance
              So was I

              I am not a member because I got a little fed up a while ago and didn't renew. Not everyone has a b2b model or need for it and I have never had a contract offer where I would want to opt out yet. In fact, IIRC in 2004 I paid for half a year's membership with the winnings from a Tarbera tip and I rarely gamble.

              Praps I should rejoin.
              Perhaps you should. It was never about B2B in the first place. It's a different organisation now anyway and continues to change. And look at all that free advice, guidance and hand-holding you're missing out on, not to mention the grand's worth of freebies...
              Blog? What blog...?

              Comment


                #8
                ..

                Originally posted by malvolio View Post
                So was I


                Perhaps you should. It was never about B2B in the first place. It's a different organisation now anyway and continues to change. And look at all that free advice, guidance and hand-holding you're missing out on, not to mention the grand's worth of freebies...
                Nothing is free last I looked it was at least £120 but yeah maybe I should, gone are the days when it was as simple as no MOO and substitution.

                Comment


                  #9
                  Originally posted by tractor View Post
                  Nothing is free last I looked it was at least £120 but yeah maybe I should, gone are the days when it was as simple as no MOO and substitution.
                  Price goes up in July.

                  They are adding more and more freebies, and more and more networking.
                  "You’re just a bad memory who doesn’t know when to go away" JR

                  Comment


                    #10
                    Originally posted by SueEllen View Post
                    Price goes up in July.
                    Does it?

                    They are adding more and more freebies, and more and more networking.
                    Well that's all right then...
                    Blog? What blog...?

                    Comment

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