Reply to: Is this the end for offshore umbrella companies??

[BenDover]

I wouldn't be joining Darwin if I were you........tick, tick, tick, BOOM!

How long do I have to join up with them for to get the joining on fee?

Could we all do 1 day @ £400 and then resign.

That would beat Old Greg's latest scheme on the return front....

[northernladuk]

How long do I have to join up with them for to get the joining on fee?

Could we all do 1 day @ £400 and then resign.

That would beat Old Greg's latest scheme on the return front....

You could just watch out for good Tesco Clubcard deals on bananas...

Banana economics: buy 942lb of fruit, give it away - and make pounds 25 profit - News - The Independent

[Old Greg]

How long do I have to join up with them for to get the joining on fee?

Could we all do 1 day @ £400 and then resign.

That would beat Old Greg's latest scheme on the return front....

The £400 is not in cash but managed via Oude Joris as an Forex loan.

[eek]

This just dropped into my inbox today...

How long do I have to join up with them for to get the joining on fee?

Could we all do 1 day @ £400 and then resign.

That would beat Old Greg's latest scheme on the return front....

[LisaContractorUmbrella]

Perhaps the £750 is designed to help with the cost of fighting those nice people at HMRC http://forums.contractoruk.com/hmrc-...gh-darwin.html

[Boney M]

Got a email this morning from them via CWJobs, offer 750 notes to join them and 90% pay

epidm.edgesuite.net/PJBCRBI/CW_Jobseeker/Client/2013/Darwin/CW_2ND_Darwin_darw_281013.html

[LisaContractorUmbrella]

As I understand it, the agency will be liable if any money goes off-shore and as a result PAYE is avoided. How will my agency know that my PSC is not sending the money off-shore? If they can't know, won't they want to force me (and all other contractors) to only use white-listed on-shore umbrellas?

So this legislation could end the PSC even where there is no off-shoring going on?

If HMRC are able to legislatively define a supplier of labour and make them responsible for PAYE, are they really going to resist the temptation to put all contractors on PAYE?

Edited to add: have not been following this issue, so may well have completely misunderstood what is proposed.

It hasn't been confirmed yet whether PSC's will be affected by the changes in legislation but as the agency will be responsible for making PAYE payments for contractors who contract with offshore providers (this is not debt transfer, it's immediate liability which null and voids the arrangement between the contractor and the offshore umbrella) it is possible that they make take the route that you suggest. There are a couple of senior recruiters who post on here who may be able to give an insight

[IR35 Avoider]

No. It stops the abuse of the umbrella system for the various agencies supplying workers to health care, teaching and various other trades who avoid their own costs by claiming to be subject to offshore arrangements, although that saving didn't necessarily roll on to the workers themselves...

The other schemes that attract the unwary freelance contractor will persist unchanged, they are after all completely legal. The problem is answering the question 'does a standard UK-based taxpayer working in the UK qualify for their use'. We would say not, but that remains legally unresolved.

As I understand it, the agency will be liable if any money goes off-shore and as a result PAYE is avoided. How will my agency know that my PSC is not sending the money off-shore? If they can't know, won't they want to force me (and all other contractors) to only use white-listed on-shore umbrellas?

So this legislation could end the PSC even where there is no off-shoring going on?

If HMRC are able to legislatively define a supplier of labour and make them responsible for PAYE, are they really going to resist the temptation to put all contractors on PAYE?

Edited to add: have not been following this issue, so may well have completely misunderstood what is proposed.

[cojak]

We both know that the 90% model has long ago died a death.

This just dropped into my inbox today...

[LisaContractorUmbrella]

Not as much as I'd cry if I had the kind of retention rates you offer

You always have to go and spoil it don't you

[Old Greg]

I could cry, I really could

Not as much as I'd cry if I had the kind of retention rates you offer

[LisaContractorUmbrella]

I received a spam email from one of them this morning titled "Contractors - Retain 90% Of Your Income". UK "administration" office in Canterbury. It meets all the bingo words and phrases including "Senior Tax Counsel" approved, avoids IR35, fully insured, and so on

Makes you wonder how many people will be enough to think ooh that's sounds like a good idea

[LisaContractorUmbrella]

I promise you it's true.

I could cry, I really could

[Old Greg]

I wouldn't touch it unless it came with personal guarantees from the UK-based directors with securities lodged against their fully-paid up houses plus indemnities for everything to do with my tax affairs. Even then, I'd probably think twice and keep ignoring them.

The word of a Dutch Antillean is all the bond you need.

[craig1]

Unless it has the terms "Oude Joris" or "Dutch Antilles", my advice would be not to touch it with a barge pole.

I wouldn't touch it unless it came with personal guarantees from the UK-based directors with securities lodged against their fully-paid up houses plus indemnities for everything to do with my tax affairs. Even then, I'd probably think twice and keep ignoring them.