Hectors House

[Lucifer Box]

Underscore2, how are your composite managing to return 82%? What's their gimmick, as it were?

[Underscore2]

rubbish

they are talking bollix. I've just gone the other way from my own Ltd to a composite type co. It may not be something many people agree with - but i get a good return (82%) and I'm with a small enough co that don;t flag themselves all over the internet.

Just tell them your other company is going tits up and you are moving to MyCo Ltd. If they say no - tell them you are offski.

[Lucifer Box]

Just interestedin your comment about making the switch to Ltd mid-contract. I just asked that question to my agent - Spring and they said it cannot be done until renewal. I'm in a composite at the moment and want to move to Ltd ASAP but my contractis not up for renewal until Jan.

Does this sound like the norm or are they just being awkward?

They are talking bollox. What they really mean is that they can't be bothered to issue a replacement contract in your new Ltd's name. You could force the issue by saying that unless they play ball you will sling your hook but it's probably not worth it unless renewal time is a long, long way away. In the meantime get your Ltd set up, get an accountant, get a company bank account and you'll be ready to go.

[Darren@UptonAccountants]

Limited Companies

Think I might just do that and get the Ltd thang setup ready to move to. My composite company are also trying to move me towards an EBT that I'm just as concerned about as the composite setup. I'm reading all the posts and am now convinced I need to go the Ltd way!

Anyone disagree?

I think the general consensus is that if you're in it for the long term and your contracts are outside IR35, Ltd is the way to go.

EBT's are in my opinion very dodgy indeed.

[stacks]

Think I might just do that and get the Ltd thang setup ready to move to. My composite company are also trying to move me towards an EBT that I'm just as concerned about as the composite setup. I'm reading all the posts and am now convinced I need to go the Ltd way!

Anyone disagree?

[malvolio]

"Spring" - nuff said. One of the ones that think they're a consultancy, not an agency and think they're the ones with the skills.

You could press the point, but it might just be easier to get the Ltd up and running in time for renewal.

[Bookworm]

Composites

It appears that everyone is now running scared of composites, well I am, but what do I do about the company I am currently with (freelance professional services) Need to know if Hector is in the door or just knocking to buy some time

[stacks]

Just interestedin your comment about making the switch to Ltd mid-contract. I just asked that question to my agent - Spring and they said it cannot be done until renewal. I'm in a composite at the moment and want to move to Ltd ASAP but my contractis not up for renewal until Jan.

Does this sound like the norm or are they just being awkward?

[Lucifer Box]

I do agree, when I started contracting it was a short term thing so went composite, now 1.5 yrs later I never sorted going to ltd. I wanted to go ltd on my recent renewal but was in middle of house move and needed to stay with composite to get morg, as if ltd need 12 month accounts.

I think your safer if ltd, less likely hood of being invesitgated, going composite makes it too easy for the IR. Phucking IR

Just do it, Ivor1. You can make the switch mid-contract - your agency don't care who they pay the money to.

[Ivor1]

That's why I believe it's best to run your own Ltd if you're contracting beyond the short term. If you balls it up and get HMCR knocking at the door it's only yourself that's to blame, not some dodgy composite that presents an easy target to an inspeector looking to reach his annual targets by killing a few dozen birds with one stone.

I do agree, when I started contracting it was a short term thing so went composite, now 1.5 yrs later I never sorted going to ltd. I wanted to go ltd on my recent renewal but was in middle of house move and needed to stay with composite to get morg, as if ltd need 12 month accounts.

I think your safer if ltd, less likely hood of being invesitgated, going composite makes it too easy for the IR. Phucking IR

It could be worse, I could be with P4

[Lucifer Box]

That's why I believe it's best to run your own Ltd if you're contracting beyond the short term. If you balls it up and get HMCR knocking at the door it's only yourself that's to blame, not some dodgy composite that presents an easy target to an inspeector looking to reach his annual targets by killing a few dozen birds with one stone.

[Ivor1]

When you say "Composite", what do you mean?
Also, I'm assuming you are referring to Giant... In which case, are they not being their usual helpful selves?

No not GIANT, composite being employee getting divs and sal.

I'm just being parnoid will hide under rock now.

[The Late, Great JC]

I hate to say it but I think another LARGE (get the pun) composite is being looked at closely. I intially got suspious after I had to call the IR about self accessment and the lady I spoke to at the tax office went 'Oh you work for xxxxxx , I will put a note on your records', she said it like she knew something.

I asked the compoiste them in no uncertain terms 1) Have the IR spoken to them ? 2) Is anyone on there books being invesitgated ? They didnt reply to the questions, from that I draw my own conlusions. If they had nothing to hide they would tell me everything was ok, by not replying reading between the lines I say they have a problem.

When you say "Composite", what do you mean?
Also, I'm assuming you are referring to Giant... In which case, are they not being their usual helpful selves?

[Bookworm]

It appears that there is some panic being generated by Hector within the composite company world. Rumour control has suggested that a company called FPS has been in discussion with Hector about their contracts and with no certain facts available, apparently they have started to investigate many of their composite schemes. The company has not admitted an investigation is ongoing, merely that the company is getting assistance from Hector to sort out some issues.

Looking for someone with very big torch to shine light on this or dispel the rumour, we are very concerned as many of us are with them.