Fircroft

[andrewt70]

Fircroft

I worked with Fircroft, really bad experience, botched paperwork, lost paperwork, terrible. Run, don't walk.

[JamJarST]

Yes I am out of pocket because for that portion on my turnover I only ended up with 80p to pay each £1 of the VAT that I owed.

Not correct, cos you don't have to pay the full £1, look at my example above.

[JamJarST]

You are when they only let you claim the hotel bill less the VAT that you have already paid. If you're on flat rate you can't claim this back.

I had this problem with Hayes and Elan.

But you get that back in the difference between what you charge in VAT (20%) and what you pay (14.5% in my case) minus the corp tax on this "profit". Lets say you do £1000 work net of VAT and have a net hotel bill of £100. You invoice £220 but only pay over £191.40 (14.5% x £1320) making a small profit of £28.6 which incurs £5.72 CT but after deducting CT on £20 VAT on the original VAT cost on the bill is a small tax cost of £1.72 (£5.72 - £4.00). In affect you are still up £6.88 (£28.6 - £20 - £1.72)

If you weren't flat rate registered like most businesses, you would have to pay £200 VAT (£220 - £20) and would be £6.88 worse off.

[Fred Bloggs]

Are you out of pocket though? Surely it depends on the actual VAT paid on expenses. I had this debate with the consultancies I contract to and they are inflexible too mainly because they pass on expenses to their end clients who won't pay VAT on VAT. You do lose the "profit" in the flat rate but you aren't actually out of pocket.

Yes I am out of pocket because for that portion on my turnover I only ended up with 80p to pay each £1 of the VAT that I owed.

[Sausage Surprise]

Are you out of pocket though? Surely it depends on the actual VAT paid on expenses. I had this debate with the consultancies I contract to and they are inflexible too mainly because they pass on expenses to their end clients who won't pay VAT on VAT. You do lose the "profit" in the flat rate but you aren't actually out of pocket.

You are when they only let you claim the hotel bill less the VAT that you have already paid. If you're on flat rate you can't claim this back.

I had this problem with Hayes and Elan.

[JamJarST]

A contract with them was reviewed for me by QDOS about 2.5 years ago and passed. The only issue I had with them was they refuse point blank to pay VAT on UK incurred, client approved travel expenses thus leaving the contractor who is invariably on the flat rate VAT scheme out of pocket. The self invoicing works OK except for the travel expenses issue.

Are you out of pocket though? Surely it depends on the actual VAT paid on expenses. I had this debate with the consultancies I contract to and they are inflexible too mainly because they pass on expenses to their end clients who won't pay VAT on VAT. You do lose the "profit" in the flat rate but you aren't actually out of pocket.

[Fred Bloggs]

A contract with them was reviewed for me by QDOS about 2.5 years ago and passed. The only issue I had with them was they refuse point blank to pay VAT on UK incurred, client approved travel expenses thus leaving the contractor who is invariably on the flat rate VAT scheme out of pocket. The self invoicing works OK except for the travel expenses issue.

[Sausage Surprise]

Agree with the above, once the offer is more than verbal have the contract reviwed for your peace of mind.
But we currently have many clients with Fircroft, they don't have any complaints re the agency and when we need to check anything with Fircroft we find them really helpful too.
Good luck

Come on....you work for Fircroft don't you

[FWDiane]

Agree with the above, once the offer is more than verbal have the contract reviwed for your peace of mind.
But we currently have many clients with Fircroft, they don't have any complaints re the agency and when we need to check anything with Fircroft we find them really helpful too.
Good luck

[northernladuk]

Experience(s) of working through Fircroft, please, anyone?

How is their contract wrt. IR35 & did you get it reviewed?

Did you issue invoices or let them self-bill?

Would you be happy to work through them again?

I have a (verbal) offer on the table and currently weighing up options.

Ta.

You would be pretty daft not to get it reviewed and when you do you will have your answer.

[Contreras]

Experience(s) of working through Fircroft, please, anyone?

How is their contract wrt. IR35 & did you get it reviewed?

Did you issue invoices or let them self-bill?

Would you be happy to work through them again?

I have a (verbal) offer on the table and currently weighing up options.

Ta.