Alternative to Norla Consulting

[ProfContractor]

If the scheme uses an EBT or some other form of Offshore payment, you probably shouldn't be sleeping soundly. I really hope that offshore schemes prove effective, but I personally wouldn't join one now if it had an offshore element.

If this doesn't use an offshore element, can you enlighten us as to how it works?

P.S. is that call 'them' or call 'us'?

Call me and I'll do your intranet, call them and they'll help with your business. I was trying to help mate, and I'd rather not give you the wrong information that's all. I can wing it if you want, but better you speak direct I would think!

[Alan @ BroomeAffinity]

If this doesn't use an offshore element, can you enlighten us as to how it works?

Not unless you first sign a non-disclosure agreement!

[dezze]

They have a range, including Isle of Man, but also helping with a limited company which I also looked at (it's your company, they just help with the paperwork and admin), it just depends on your status. For me the one that works is their salary package. Just give them a call, they're a nice bunch and won't do the hard sell. They're careful about checking everything is above board, which to me means I can sleep easy because I'm not interested in risking what I've earned, especially at the moment with what's going on!

If the scheme uses an EBT or some other form of Offshore payment, you probably shouldn't be sleeping soundly. I really hope that offshore schemes prove effective, but I personally wouldn't join one now if it had an offshore element.

If this doesn't use an offshore element, can you enlighten us as to how it works?

P.S. is that call 'them' or call 'us'?

[ProfContractor]

Their website mentions...

'Tax efficient bonus scheme'

Does this mean it uses some form of Offshore element? EBT maybe?

They have a range, including Isle of Man, but also helping with a limited company which I also looked at (it's your company, they just help with the paperwork and admin), it just depends on your status. For me the one that works is their salary package. Just give them a call, they're a nice bunch and won't do the hard sell. They're careful about checking everything is above board, which to me means I can sleep easy because I'm not interested in risking what I've earned, especially at the moment with what's going on!

[Alan @ BroomeAffinity]

>Surely, anybody can see that if you earn £250 per day and pay 18% something is way wrong.

In what way?

>What part of the income is non-taxable?

pension? expenses?

QB.

It says you keep 82% of the income. You don't keep it if you pay it out in pension and expenses.

Its an EBT or some such nonsense. The non-taxable income - I would bet - is in the form of a non-repayable loan and I think we all know that this is not to be recommended.

[dezze]

Their website mentions...

'Tax efficient bonus scheme'

Does this mean it uses some form of Offshore element? EBT maybe?

[QwertyBerty]

>Surely, anybody can see that if you ear £250 per day and pay 18% something is way wrong.

In what way?

>What part of the income is non-taxable?

pension? expenses?

QB.

[Alan @ BroomeAffinity]

Hi Phil,

I use Independent Contractor Services and I find them to be excellent - small enough to care but big enough to know their stuff. Their rates are on a par too. Hope that helps.

PC

From ICS website:

Our Salary Package Service is for you if you are outside IR35 and earn more than £35 per hour or £250 per day.

A Salary Package simply means we divide your total income into its taxable and non-taxable parts, with the aim of reducing the overall level of tax you pay. The result is you can expect to receive up to 82% of your contract value in your take home pay.

Surely, anybody can see that if you ear £250 per day and pay 18% something is way wrong. What part of the income is non-taxable?

[ProfContractor]

Good experience

Hi Phil,

I use Independent Contractor Services and I find them to be excellent - small enough to care but big enough to know their stuff. Their rates are on a par too. Hope that helps.

PC

[max]

Hi there,

I am currently using Norla's EBT scheme at the moment (85% return),

Call HMRC, they are interested in people using tax evasion schemes.

[BCGT]

What other areas are you working in other than IT?

[PhilAtBFCA]

Insurance

Just a thought, but maybe you could consider running your own business and look for an insurer who will insure your business for what you need ?

[pmeswani]

Hi there,

I am currently using Norla's EBT scheme at the moment (85% return), however due to my profession as not being entirely in IT; their insurer has rejected me.

Just wondering has anyone else in the forum come across another organisation that is registered within the Uk that roughly returns the same rate?

Many thanks in advance

Phil

A lot of people will tell you to get out of the EBT scheme sooner rather than later.... and I will agree with them.

2 trails of thought come to mind regarding your post.

1. Why can't the insurer just insure you for the IT work.

2. Can you not get insurance yourself that is not provided by Norla?

[Crossroads]

OT, Who is their insurer, and what did they insure?

[philinlondon]

Hi there,

I am currently using Norla's EBT scheme at the moment (85% return), however due to my profession as not being entirely in IT; their insurer has rejected me.

Just wondering has anyone else in the forum come across another organisation that is registered within the Uk that roughly returns the same rate?

Many thanks in advance

Phil