New one for the 90% brigade or....

[moggy]

I called up a different company mentioned on here a few days back, theirs was a min wage, then a loan that was never paid back. not quite 90% but pretty close. Very shady.

[northernladuk]

That's just illegal surely! Why aren't these crooks arrested for the frauds they are??


Ooh it makes my blood boil!

Agreed. Got a bit of time on my hands so might follow these through by reporting them and see how the process works just out of interest.

[cojak]

That's just illegal surely! Why aren't these crooks arrested for the frauds they are??


Ooh it makes my blood boil!

[northernladuk]

What's going on here. Got spammed by another 90% offering.. Loving the explanation in this one..

Your Ltd Company invoices your agency/client for payment
You deduct an amount for your salary and any expenses
Remaining profit is allocated to the tax protected vehicle, instead of paying corporation tax
Further tax charges are not applicable through the tax vehicle
Funds in the vehicle are distributed, allowing you to retain up to 90% of your gross contract rate

The last three lines are just

[LisaContractorUmbrella]

Are you still not on the S3 list?

[eek]

They do indeed - compliance should be the only consideration when choosing a PSL - don't you think Andy?

Are you still not on the S3 list?

[LisaContractorUmbrella]

The smarter ones look beyond this

They do indeed - compliance should be the only consideration when choosing a PSL - don't you think Andy?

[Andy Hallett]

They do it because recruitment agencies look for the 'employment relationship' - it's absolute boo hockey obviously

The smarter ones look beyond this

[LisaContractorUmbrella]

Yeah I thought so. I just thought this was a bit different as it actually mentions that the relationship between you and them will be as an employee through a brolly. It's probably because I just didn't bother to read the websites of all the other scheme providers.

I just thought as a brolly they would have to pay you at least the minimum wage which would make a 90% target even harder to hit. Anyway, not going to bother going in to the details as I don't really care. My fault for reading this one. Wish I hadn't bothered and stayed blissfully ignorant.

They do it because recruitment agencies look for the 'employment relationship' - it's absolute boo hockey obviously

[northernladuk]

This is pretty standard NLUK - what you won't find on the website is an explanation as to HOW they get you 90%.

What you can do now is to dob them in to HMRC [email protected]

Yeah I thought so. I just thought this was a bit different as it actually mentions that the relationship between you and them will be as an employee through a brolly. It's probably because I just didn't bother to read the websites of all the other scheme providers.

I just thought as a brolly they would have to pay you at least the minimum wage which would make a 90% target even harder to hit. Anyway, not going to bother going in to the details as I don't really care. My fault for reading this one. Wish I hadn't bothered and stayed blissfully ignorant.

[LisaContractorUmbrella]

This is pretty standard NLUK - what you won't find on the website is an explanation as to HOW they get you 90%.

What you can do now is to dob them in to HMRC [email protected]

[borderreiver]

Headbutting a judge , dragging his twitching body into an alley and nicking his wallet is IR35 compliant, but that is hardly a defence in a court of law.

Only if you don't operate PAYE on the takings ...

[speling bee]

Is this how it normally works? Never looked in to it before so I don't really have a scooby about the mechanics of these schemes but I was rather disappointed to receive a spam marketing mail from contractjobs telling me I could retain 90% of my contract value. Bit of mistake on contractjobs part for allowing this IMO so won't be looking at that site again. Thinking about it I never did so wonder where they got my mail but anyway....

For some reason I decide to look at this offerings website and found the did an Employed Contractor Plan which says the following....



This strikes me as a bit odd as you have to be an employee of the Umbrella would make it even harder to meet that figure? Is this how the other schemes work?

Oh hang on, the next line says "IR35 compliant" so it must be fine... umm but wait, doesn't being an employee me IR35 doesn't even factor???

Headbutting a judge , dragging his twitching body into an alley and nicking his wallet is IR35 compliant, but that is hardly a defence in a court of law.

[northernladuk]

Is this how it normally works? Never looked in to it before so I don't really have a scooby about the mechanics of these schemes but I was rather disappointed to receive a spam marketing mail from contractjobs telling me I could retain 90% of my contract value. Bit of mistake on contractjobs part for allowing this IMO so won't be looking at that site again. Thinking about it I never did so wonder where they got my mail but anyway....

For some reason I decide to look at this offerings website and found the did an Employed Contractor Plan which says the following....

Our Employed Contractor Plan is designed for the agency contractor market, becoming an employee of our UK based Umbrella Company, our clients have access not only to the usual simplicity of contracting afforded by using an Umbrella Company, but also to the advantages of our tax efficient solutions for generating high rates of return, our clients often receive 85-90% of their invoice value. For those in the contracting market seeking a higher rate of return than the circa 60-65% usually received operating through an Umbrella, while avoiding the added expense and administrative burden of running your own Limited Company, while conforming to contractor IR35 legislation, our Employed Contractor plan is tailor made.

This strikes me as a bit odd as you have to be an employee of the Umbrella would make it even harder to meet that figure? Is this how the other schemes work?

Oh hang on, the next line says "IR35 compliant" so it must be fine... umm but wait, doesn't being an employee me IR35 doesn't even factor???