The Pay Hub

[Saphirex]

Ok then....

So I contract on a day rate for all my digital stuff which I do mostly on client site and write off the usual costs, travel, sustance etc. (they also allow me up to £35 per month for stationary -thought it was per week but checked and its per month)....

but then I get an order for an art piece and have to use paints, canvas, brushes, materials etc and this can add up to £2000 for a piece or series I might charge £7k for. Now since a lot of the materials will have been bought on spec say 6 months before or sourced from various places and used across serveral jobs some times....

I also do sample art on spec and of course some stuff is just practice and all that eats up materials as well as higher software costs.

Non of the umbrella companies seem to deal with that very well. All they understand is time sheets and their scheme - which is 80% of my income but another 20% is one off invoices - no time sheet and direct expenses that match their scheme... and a stack of bills for £125 paintbrushes which I need to write off some how without waiting a year for the tax end.

S

[Saphirex]

Missing the point

Hi there,

Everyone's situation is different and as I work as a commercial artist some expenses as new brushes, paints, canvases, frames etc are not covered. I charge a day rate for my time for commissions but I still have to write off stuff that is not client billable - a paint brush might last 10 jobs or one depending... My accountant says these things are stationary and I am only allowed to include paper and pens to about no more than £35 per week - not £125 on one brush!

So the pay hub seems ideal for these kind of situations.

The question I have is to with whether these are honest enough to pay me when the money hits their account or whether they are fly by night morons who are going to disappear when a nice tidy sum is in there account.

I could be putting through an invoice for £7,000 for a painting I sold that has about 2k worth of expenses and get bugger all back.

Anybody actually used them?

[TheFaQQer]

What a lenient spam policy this site has. Someone with Posts = 1 tells you he's going to use a new service that will make you money, but you have to pay someone else 5% to get in. Hmm, this time it might be genuine.

Oh, you cynic!

I think that as a spamming exercise, it's failed somewhat (apart from now having another link), given the responses to the original post.

[expat]

What a lenient spam policy this site has. Someone with Posts = 1 tells you he's going to use a new service that will make you money, but you have to pay someone else 5% to get in. Hmm, this time it might be genuine.

[LisaContractorUmbrella]

I'd love to, but the though of losing all the money I can claim back with my magic dispensation means that I'd be worse off through this one

What a wise man you are

[TheFaQQer]

My thoughts exactly Faqqer - 50/50?

I'd love to, but the though of losing all the money I can claim back with my magic dispensation means that I'd be worse off through this one

[LisaContractorUmbrella]

Wow - why isn't everyone doing this?

Is there some kind of catch somewhere?

I think I'll jump in anyway - thanks for the tip, Lisa!!

My thoughts exactly Faqqer - 50/50?

[swamp]

The Hay Pub?

Don't know it.

[TheFaQQer]

Apparantly contractors can take home 95% of their earnings and benefits include:

No PAYE
No National Insurance
Nothing deducted at source
No upper limit on business expenses and MSC and IR35 compliant.

If I have understood correctly you pay this Isle of Man company 5% of your earnings and then sort out your own tax

Wow - why isn't everyone doing this?

Is there some kind of catch somewhere?

I think I'll jump in anyway - thanks for the tip, Lisa!!

[LisaContractorUmbrella]

Apparantly contractors can take home 95% of their earnings and benefits include:

No PAYE
No National Insurance
Nothing deducted at source
No upper limit on business expenses and MSC and IR35 compliant.

If I have understood correctly you pay this Isle of Man company 5% of your earnings and then sort out your own tax

[WindyAnna]

I got a spammage to my client site e-mail address from these lot today and I am far from happy about it ... also no idea where they would have got my client site e-mail address from as I do not use it except for client related stuff. Having said that my old chums at P4 had my client e-mail address so maybe it is in some way related to those nice people?!?

[WindyAnna]

Hi there,

I usually use an umbrella company but as I work overtime and have additional expenses not covered by the dispensation package I am looking to put through smaller invoices in through www.thepayhub.co.uk.

Hub Management Ltd.

This way I can write off some capital costs and then bank it and pay the taxes owning when the tax is due. Does anyone have any info on these guys. Seems strange that they do not have a proper phone number yet are advertising on major contracting sites?

S

Smells like spam!

[Crossroads]

expenses not covered by the dispensation package

[Hex]

Their website looks a little basic. It seems to be that they are operating as a Limited Company which pays its contractors as self employed. This fulfills the client/agency requirement of not paying you as self employed because they would be liable for any taxes you didn't pay. For their service they are taking 5% of your invoice amount.

This would suggest they are taking a risk that you do pay your self employed taxes correctly otherwise HMRC will come after then.

I've not seen anything like this before. I would be very cautious.

[Saphirex]

Hi there,

I usually use an umbrella company but as I work overtime and have additional expenses not covered by the dispensation package I am looking to put through smaller invoices in through www.thepayhub.co.uk.

Hub Management Ltd.

This way I can write off some capital costs and then bank it and pay the taxes owning when the tax is due. Does anyone have any info on these guys. Seems strange that they do not have a proper phone number yet are advertising on major contracting sites?

S