Reply to: Info on Payerise

[Barrygbr]

Have a look at this (note the date!) If you work in the UK, you will pay tax in the UK......

http://forums.contractoruk.com/publi...-umbrella.html

And this Brown envelopes arriving on Xmas eve

So no, you'll see no recommendations for those kind of companies on this forum.

I used Payrise many moons ago and they left something to be desired then. Seems like they are still messing around. I'd give them a wide berth if I was you.

[blackmumba]

If you want to know more about the company and its director, take a look at Companies House.

It's not often that I come across a director with very nearly 300 companies associated with his name....

Yes, funnily enough I did do that before seeing your reply. Something is definitely amiss

[cojak]

Thank you all. I have not actually contacted them, so I do not have figures to provide. Feeling a bit dubious and reading about Jersey, shares etc, I decided not to. Maybe I should to see what they are offering? Interesting nobody has used or heard of them, telling in it's self.

If you want to know more about the company and its director, take a look at Companies House.

It's not often that I come across a director with very nearly 300 companies associated with his name....

[blackmumba]

Thank you all. I have not actually contacted them, so I do not have figures to provide. Feeling a bit dubious and reading about Jersey, shares etc, I decided not to. Maybe I should to see what they are offering? Interesting nobody has used or heard of them, telling in it's self.

[lucyclarityumbrella]

That bit's not mentioned on the website, is it?

Nor the part when you have to take out a "proper loan" to pay back the loan that is more than the taxes you have avoided Sorry should I have said shares!

[cojak]

Evening,

I am new to contracting - part jumped and part pushed!

I have been looking any a few options including umbrella structures.

I have been chatting to a rather nice bit confusing lady at who seems to be a BD Consultant for payerise. It all seemed to be going well until she mentioned the fact that I would be given shares... however these would be in a Jersey company.

not sure i want to be mucking around in tax havens. Does anyone have any experience of this? Have I got the wrong end of the stick? Help.

Cheers
CB

That bit's not mentioned on the website, is it?

[cojak]

Hello. I too have been advised to contact Payerise by my agency and after a lot of searching on the web, I could not find much out about them, their own site even has very little content. I then stumbled upon this. I used to work through a Ltd company but I will only be doing a 3-5 month contract and then I am going into a permanent role. Can anybody shed anymore light on how they operate and if you or anybody you know has had any experience with them?

No, no-one here has used them.

We don't know how they operate, so here are the questions you need to ask http://forums.contractoruk.com/hmrc-...following.html

And for general advice, look here http://forums.contractoruk.com/umbre...companies.html

[lucyclarityumbrella]

Hi Blackmumba, if you are able to share the figures or send them across, I would be more than happy to have a look and see if I can decipher what they are offering? Offers there [emoji4]

[blackmumba]

More Info

Hello. I too have been advised to contact Payerise by my agency and after a lot of searching on the web, I could not find much out about them, their own site even has very little content. I then stumbled upon this. I used to work through a Ltd company but I will only be doing a 3-5 month contract and then I am going into a permanent role. Can anybody shed anymore light on how they operate and if you or anybody you know has had any experience with them?

[lucyclarityumbrella]

I have been looking any a few options including umbrella structures.

Hi CB, let's look at this in simple terms, there is only one way to compliantly operate an umbrella company, you are paid via PAYE and your taxes are effectively defined by HMRC... end of.
The only difference will be the umbrella company margin and the service you will receive, so if you are getting offers of higher take home, QC or HMRC approved etc etc then I would be prepared for a visit further down the line from HMRC

[cojak]

Thanks for your help and advice.

My original thoughts were to give a swerve. Bit seems to be so much of this stuff around - was interested to see whether anyone actually did this kind of thing.

They did, and some still do but they all end up lurking or posting in this forum: HMRC Scheme Enquiries - you could ask your question in there I suppose...

[captainbeagle]

Thanks for your help and advice.

My original thoughts were to give a swerve. Bit seems to be so much of this stuff around - was interested to see whether anyone actually did this kind of thing.

[Graham1967]

Hi,

My advice is run a mile.

The sole director of this company has 30 current appointments all related by the looks of it to Umbrella Companies.

A further 260 have been dissolved. Payerise 12 months ago had a request in to strike off. Dissolve the company.

My advice would be take a look at contractorumbrella and their calculator. Other than fees everything else should work out the same when comparing umbrellas.

Anything else means there is a scam somewhere in the chain. As its you who will be paying less tax than you should be, be aware HMRC will come looking for you. Sleepless nights guaranteed.

Remember you can still go limited co route. However please read up on your obligations as a director. I would say 90%+ of contractors I meet do not have a scooby doo about contracting.

[SlipTheJab]

+1 Stay well away, go Ltd or Brolly, your sphincter will thank you in the long run!

[northernladuk]

It's a disgrace these people can still peddle their wares to the unsuspecting.