Making more Money via Ltd co - help!

[DaveB]

It appears that what they are doing is aiming for people who would have been with a brolly or simply temping through an agency like Computer People etc and setting them up with a ltd co that they then manage on their behalf for £26 a week.

They treat that person as if they were outside IR35, regardless of what their actual situation is, and hence pay them more money than they would probably get otherwise including the expenses already discussed.

Of course when Hector comes calling they can deny all knowledge of the contracts status etc as they are just "a manged service" and the contractor gets shafted as per.

[zathras]

OK so nothing new about the idea but www.cakeincome.co.uk seem to be a good option. I have been working via timesheet for some time - has anyone made the shift to companies like Gabem, Charterhouse or Cake before? Is it worth it?

Any company whos advertising contains the statement "allows you to take home more of the money you earn" allways sets alarm bells ringing and they want £26 for the privilage.

The most cost effective way is to have your own limited company with you deciding how much to draw. There is only one reason to go through such a company and that is if you do not have the inclination to run your own limited company.

[expat]

never mind changing the subject, what about that bloody bridge purchasing contract you PROMISED me ?

Sorry mate, the client changed the spec so I have to shaft you. Nothing personal.

[DaveB]

never mind changing the subject, what about that bloody bridge purchasing contract you PROMISED me ?

Now you really dont want to be bothering with bridges these days. Tunnels are the latest technology and far more tax efficient. You can practically write the whole thing off as a business expense and claim back more than you even started with. I have a great little scheme I could introduce you to, IR approved and everything

[eternalnomad]

Good point. I suppose I was just adding my voice to the debunking.

never mind changing the subject, what about that bloody bridge purchasing contract you PROMISED me ?

[expat]

Well debunking them here might stop some other poor sap from falling for it. And I did say I was bored

Good point. I suppose I was just adding my voice to the debunking.

[DaveB]

Oh FFS why give them time of day? Newbie pops up recommending some company that would like your money. If you believe it then I've got a bridge purchasing scheme that you might be interested in....

Well debunking them here might stop some other poor sap from falling for it. And I did say I was bored

[eternalnomad]

Oh FFS why give them time of day? Newbie pops up recommending some company that would like your money. If you believe it then I've got a bridge purchasing scheme that you might be interested in....

where is the bridge that needs purchasing - I am more than happy to tender for procurement services (for which I will naturally charge a nice juicy margin)

[expat]

sounds like a great scheme (not)

£26 per week (ha ha ha ha aha haha )

Oh FFS why give them time of day? Newbie pops up recommending some company that would like your money. If you believe it then I've got a bridge purchasing scheme that you might be interested in....

[eternalnomad]

Bugger all as far as I can see - I'm bored so I took a look.

They do ask for reciepts in support of expenses so it's not *entirely* dodgy.

The main idea seems to be that they will manage your ltd for you for the princely sum of £26 per week. Given that their rate calculator starts at 40 hours per week at £13 per hour, and they pay weekly, I'd say it's aimed at junior helldesk type bods rather than experienced contractors.

I guess it *might* take some of the headaches out of running a ltd if you really cant be arsed to do it yourself and / or get an accountant.

sounds like a great scheme (not)

£26 per week (ha ha ha ha aha haha )

[DaveB]

So tell me mogwai,

apart from submittting potentially fraudulent expenses claims how does cake or whatever you decided to call your little venture give me more take home pay over and above my own Ltd. company.

I cant be ar5sed to look at the site and check out the "facts" - so what is so special about this scheme ?

Bugger all as far as I can see - I'm bored so I took a look.

They do ask for reciepts in support of expenses so it's not *entirely* dodgy.

The main idea seems to be that they will manage your ltd for you for the princely sum of £26 per week. Given that their rate calculator starts at 40 hours per week at £13 per hour, and they pay weekly, I'd say it's aimed at junior helldesk type bods rather than experienced contractors.

I guess it *might* take some of the headaches out of running a ltd if you really cant be arsed to do it yourself and / or get an accountant.

[Mordac]

The devil, as always, is in the detail

Should this level of income be representative of your annual income then you may have a liabilty to additional income tax in addition to deductions made from your salary.

And it's £26 per week

Sounds like another scam. Allegedly.

[eternalnomad]

OK so nothing new about the idea but www.cakeincome.co.uk seem to be a good option. I have been working via timesheet for some time - has anyone made the shift to companies like Gabem, Charterhouse or Cake before? Is it worth it?

So tell me mogwai,

apart from submittting potentially fraudulent expenses claims how does cake or whatever you decided to call your little venture give me more take home pay over and above my own Ltd. company.

I cant be ar5sed to look at the site and check out the "facts" - so what is so special about this scheme ?

[mogwai]

OK so nothing new about the idea but www.cakeincome.co.uk seem to be a good option. I have been working via timesheet for some time - has anyone made the shift to companies like Gabem, Charterhouse or Cake before? Is it worth it?