Reply to: Infinity Contracts - Loan Agreement - Help

[Umbfeller]

Please spend some time researching these Umbrellas

Stuart Nathan Thornhill also involved with other umbrella companies:
Mr Stuart Nathan Thornhill (66 Adventure Ltd) - Director Profile - Endole



I was pointed towards 'Umbrellaworx' as a possible umbrella company to use.

However, on researching it seems the initial directors of this company:
Paul George Ruocco and Stuart Nathan Thornhill both have a worrying track record in resigning from multiple LTD companies.

Now anyone can have a run of bad luck and running a proper, successful business is hard... but ask yourself if you wish to entrust your pay to people who seem unable to keep a company afloat for any consistent period of time... this "Umbrella" industry is awash with unscrupulous "players" offering all manner of untested tax loopholes to tempt you in with "better returns on your pay"... in the worst case they will disappear after a couple of years leaving you to explain the "oh so clever" tax avoidance schemes to the HMRC.

So don't be foolish... do your due diligence before you sign to anyone - the Beta Companies House website is a good starting place - you can trace personal and company histories there through the filings.

[beunostats]

@jonathb

Is this happening?
I am in the exact same situation and want to join forces.

I went back to my agency I was working for at the time I used wisemove/Infinity. I got copies of the bank transfers made by them to their affiliated accounts. Now I can prove the source of funds did not originate from them. They don't have a leg to stand on. Clearly this is fraud. I'm going to report them to the Serious Fraud Office.

[Eki]

Getting together

@jonathb

Is this happening?
I am in the exact same situation and want to join forces.

- Same here.
Let's all communicate about this.
We need to get a bunch of folks togather who have used Infinity and are now being asked for all their wages back.



>>>>>>

[Doggysoft]

If they can't find their copy of your agreement then how can they hold you to anything? They've sent/shown me my agreement but I've decided to wait it out and see what happens with the LC for now. When signing up for IQ a lot of what was said was not correct from their side but it's all written down too so it's heavily leaning towards being mis-sold. Appreciate it's a contract but so was PPI.

[webberg]

how do I join the big group?

Go to the WTT Consulting website and follow the links.

[matteire]

Go and get advice.

Any Google search along the lines of

"contractor, tax, loan, advice"

Will give you a list of firms/people able to help.

how do I join the big group?

[matteire]

IQ Infintiy Choice

Happy to share will pm you

There seems to be a lot of people from IQ, Infinity & Choice on these forums. Is there one single point of contact / location where these issues are discussed and outcomes / next steps agreed.

I've spoken with DOR and asked them for my signed agreement, nothing yet but they are however looking for and interest payment this month... mm

it would be great if a number of people in relation to IQ, Infinity and Choice pulled resources together to tackle legally the loan and HMRC requirement and once and for all understand the position we are in / heading to.

your thoughts?

[Socialsarah73]

I asked them to show me a copy of my agreement with them and they couldn't find it. I haven't made an SAR yet but I am considering it.

I would be happy to combine forces too but am slightly wary of doing so on a public forum lest our old friend Mr Thompson is here keeping tabs on us.

Happy to share will pm you

[swing84]

Just to update I have been trying to obtain my agreement with infinity via a subject access request. DOR have sent information they hold but not any key documents including the agreement! I have made a further subject access request to the trustees. Happy to share

I asked them to show me a copy of my agreement with them and they couldn't find it. I haven't made an SAR yet but I am considering it.

I would be happy to combine forces too but am slightly wary of doing so on a public forum lest our old friend Mr Thompson is here keeping tabs on us.

[Socialsarah73]

I have used them but I don't have a copy of the agreement.
Can we communicate?
I am trying to sort this out.



>>>>

Just to update I have been trying to obtain my agreement with infinity via a subject access request. DOR have sent information they hold but not any key documents including the agreement! I have made a further subject access request to the trustees. Happy to share

[jonathb]

Infinity Loan

- Same here.
Let's all communicate about this.
We need to get a bunch of folks togather who have used Infinity and are now being asked for all their wages back.



>>>>>>

Hi

too was with infinity and they have just sent me letter saying I need to pay the loan back

I don't know how they can say this as the money was mine in the first place

They took my hard earned money and paid me as a loan

I can understand paying tax but to repay my own money !!!!!- this is a scam. They are sending letters to gain for themselves

I have been informed to ignore them

who are LCAG?

[jonathb]

Infinity Loan

I have used them but I don't have a copy of the agreement.
Can we communicate?
I am trying to sort this out.



>>>>

Just want to know who has been with them and perhaps received a Loan Statement?

If you have used them in the past, I need to find out a clause in their loan agreement.

Please get in touch.

Thanks

[piebaps]

I have this from when they were courting me into signing up.


the latter is what they haven't done. It says they give you 84% which they did, but they also invoiced for VAT. Not sure whether it was paid or not but it makes their takings 36% each payslip. Where did that money go?

There's a big clue in the decision on Penfolds http://financeandtax.decisions.tribu...54/TC07292.pdf

"19. Importantly I note that Mr Hoey did not receive the full benefit of the absence of UK tax on his earnings because the fees chargeable by the various intermediaries were between 10% and 18% of his income, compared to the 1% which might be charged by a simple UK based umbrella company. A substantial part of the hoped for benefit of avoiding UK tax was therefore absorbed by the fees being charged by the promoters and facilitators of the scheme."

[webberg]

I m in same boat .Now getting threatening letters from them.Do you ignore them ?

Go and get advice.

Any Google search along the lines of

"contractor, tax, loan, advice"

Will give you a list of firms/people able to help.

[Tarun]

I m in same boat .Now getting threatening letters from them.Do you ignore them ?