Reply to: “ELITE Contractor Care” please help

[Contractor UK]

Now Locked

[Contractor UK]

This thread has been locked and certain elements edited due to on going legal conversations with the company involved.

[cojak]

And regarding ‘a good deal on take home [pay]’, no umbrella does this, umbrellas work INSIDE IR35 and will take out tax and NI - if you use any legitimate umbrella you will take home around 65% of your day rate.

If an umbrella promises more than this they are a tax avoidance scheme.

The only way to get 'a good deal' is to save tax.

I'm going to post this everywhere it's appropriate .

[Scotslaw]

I would try and run a reverse scam on them... something along the lines of saying that you have a large sum of money, in excess of 25Million Nigerian Naira lying in a bank account which is unclaimed and set to lapse and fall into the hands of corrupt bank and government officials. But as you think Mr Elite Contractor Care is a good friend, you want to offer him the exclusive chance to get his hands on 85% of the sum. For the modest fee of 15%, to be transferred to your personal account, you will then facilitate the greasing of the wheels of the Nigerian bureaucracy and transfer the remaining amount to his account.

[cojak]

Please also note that the structures and contracts we use were designed by xxxxxx further to this, we also work very closely with the QCs and Barristers at the London Tax Chambers who provide our legal opinion. They also happen to be one of the largest Tax Chambers in the UK.

Ooh!

Smashing! And what is their legal opinion on this then? And who is their QC?

Are they going to say something like this? http://forums.contractoruk.com/umbre...ml#post1951410

http://www.taxchambers.com/wp-conten...sultations.pdf

(PS. I can't find 'London Tax Chambers' when I do a search, I would ask for their details if I were you...)

[Fred Bloggs]

Where do I sign? I mean, what could possibly go wrong. It is fully compliant and backed by the European courts

[Togoodtobetrue]

More from Elite

Many thanks for your email.
On the bespoke structure that we offer, you will retain circa 82-84% in a manner fully compliant with current legislation. To clarify, all fees, Tax and NI are all wrapped up in the non-retained element. You will be provided with Professional Indemnity Insurance and Employers/Public Liability Insurance.
By way of example, on a weekly income £1,000.00, using this structure (on a standard tax code of 1185L) you would retain approximately £835.00 per week into your personal account.
We can supply an outsourced employed PAYE structure, which is a streamlined process where you would become an employee of trading company ‘Elite Management & Consultancy’. You would be remunerated as follows:
· Elite invoices your agency.
· Elite pays you a salary of £250/week for Consultancy services. Full tax & N.I is paid on this amount.
· Any remaining funds minus expenses/fees are paid to yourself via a Capital Investment Payment which is not subject to Tax/N.I and is fully compliant.
The basic salary elements remains the same as with all tax planning/limited company structures where you will be employed on a salary of £250.00 per week/ £12,000 per year and you will pay full tax/NI on this sum. You will then receive a non-taxable secondary payment.
The secondary payment in this instance is a capital investment payment. Capital investment payments do not incur Tax/NI. The strength of this structure comes from the fact that HMRC have already tried to class capital investment as taxable payments however they have been overruled by the European High Court who have stated that this is an infringement of (a) the Right to Establish and crucially for us, (b) Article 63: Free Movement of Capital Act. As discussed, in layman’s terms, we are therefore not only fully compliant and fully protected, we are actually backed by the European High Court who cannot only rule over HMRC, they have actually already done so.
Please also note that the structures and contracts we use were designed by xxxxx further to this, we also work very closely with the QCs and Barristers at the London Tax Chambers who provide our legal opinion. They also happen to be one of the largest Tax Chambers in the UK.
The EMC structure allocates you into full employment and you will be registered onto an Accountant's highly efficient PAYE scheme. This will give your end clients full peace of mind that your obligations are being paid.
EMC does not have to be registered under DOTAS (Disclosure of Tax Avoidance Schemes) as it is based on standard accountancy principles and is therefore not classed as aggressive tax structuring. EMC is also a fully UK based structure.
I have also attached the compliance pack for the EMC structure (Elite Management & Consultancy, the 'employer') showing full details of the company.
If you do have any further queries or if there is anything I can clarify in greater detail, please don’t hesitate to contact me on <mod snip>
Kind Regards,
Nicolae F Lazau
Business Team Elite Synergy

[lucyclarityumbrella]

bravo!

[WTFH]

There is a company using the same sales pitch email to nurses at the moment under the name Elite Synergy

Elite Synergy Wealth Management - the UK's leading wealth management company

The guy who set them up used to work for Opus Management (which used to be based in Cheshire, or Guernsey, depending on whether you believe their marketing blurb or Companies House)

Then he went on to set up PAYE Compare (based in Cheshire or the Isle of Man) which is currently offering take home of "up to 90%". The company still has a website, but it has received it's final notice to be struck off.

[SlothGator]

There is a company using the same sales pitch email to nurses at the moment under the name Elite Synergy

Elite Synergy Wealth Management - the UK's leading wealth management company

"UK's Leading Wealth Management company" - Thats a bold claim, i wonder what Barclays Wealth or JP Morgan would have to say about that

[Togoodtobetrue]

There is a company using the same sales pitch email to nurses at the moment under the name Elite Synergy

Elite Synergy Wealth Management - the UK's leading wealth management company

[Darren at Fox-Bartfield]

Dodgy Tax Schemes

The providers are largely beyond reach, even if you can identify them. Somewhere in the chain is a company outside UK's jurisdiction.

Ditto the advisors; they are usually part of the provider family.

Yes, attack the referrers - or at least educate them about the damage they're doing. Chances are they have no idea.

HMRC are attacking them, but they are restricted to UK-based users of the schemes who, as ony fule kno, are not actually the problem.

<mod snip>

[SlothGator]

<mod snip>.

The FSA ceased in 2013.

Its now the FCA, and from what i remember there is no need for Umbrella companies to be authorised. So the FCA wouldn't be able to do anything.

Just report them to HMRC.

I got offered their scheme a while ago by a colleague, something about getting a loan from your employer. Ill make sure i ask him in a year or two how he got on

[piebaps]

<mod snip>

[malvolio]

I would like to see scheme providers attacked. Their advisers. Any corporation that pushes people towards them(no doubt they get a referral fee).

And HMRC if(when?) they do not fail to tackle them.

The providers are largely beyond reach, even if you can identify them. Somewhere in the chain is a company outside UK's jurisdiction.

Ditto the advisors; they are usually part of the provider family.

Yes, attack the referrers - or at least educate them about the damage they're doing. Chances are they have no idea.

HMRC are attacking them, but they are restricted to UK-based users of the schemes who, as ony fule kno, are not actually the problem.