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Previously on "Genuine but not FCSA Umbrella Companies"

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  • cojak
    replied
    Originally posted by eek View Post
    They've actually submitted their accounts - and they don't make pleasant reading.

    Is that a £25,000 loan I see hidden within it - I suspect it is.
    Oh yes, so there is! 'Amounts falling due after one year' - so a Director's Loan and they've not repaid it.

    In fact they're £7k in the red, so I can't see them factoring contractor's pay.

    (And these account had to be lodged whilst kicking and screaming...)

    I look forward to seeing their 21-22 accounts in April...

    Leave a comment:


  • eek
    replied
    They've actually submitted their accounts - and they don't make pleasant reading.

    Is that a £25,000 loan I see hidden within it - I suspect it is.
    Last edited by eek; 11 January 2022, 20:12.

    Leave a comment:


  • cojak
    replied
    And since today is the 11th Jan, the first notice for the compulsory strike off of Ovations Umbrella Ltd has taken place.

    https://find-and-update.company-info...filing-history

    Leave a comment:


  • eek
    replied
    Originally posted by eek View Post
    Rest of this afternoon's entertainment.

    A dodgy as f*** FCSA company (not one I had heard often so meh).
    Another FCSA one that is mentioned on here fairly often doing slightly dodgy things with pensions (slight upside is that it also slightly reduces a contractor's tax bill but there is a fee I can't reconcile)

    So the other half of the Companies house stuff will wait til tomorrow.
    Found what the fee is - nice side-effect is a 22% increase in umbrella margin (looking at the advert on this page it would be a 56% increase if they used such a technique) that should be going to HMRC...

    Shall we just say that the backend suppliers have interesting ways of dealing with what is a very complex issue.
    Last edited by eek; 6 January 2022, 12:27.

    Leave a comment:


  • eek
    replied
    Rest of this afternoon's entertainment.

    A dodgy as f*** FCSA company (not one I had heard often so meh).
    Another FCSA one that is mentioned on here fairly often doing slightly dodgy things with pensions (slight upside is that it also slightly reduces a contractor's tax bill but there is a fee I can't reconcile)

    So the other half of the Companies house stuff will wait til tomorrow.

    Leave a comment:


  • eek
    replied
    Originally posted by cojak View Post

    I do hope that you've left this company - they are about to be struck off at Companies House.

    OVATIONS UMBRELLA LIMITED overview - Find and update company information - GOV.UK (company-information.service.gov.uk)

    The London Gazette entry here:
    11 Jan 2022 First Gazette notice for compulsory strike-off
    This document is being processed and will be available in 10 days.
    .
    Any money you've got in there will probably be lost.

    And since they are Professional Passport accredited I would take that accreditation with a pinch of salt as well...
    Nice catch

    This afternoon is now spent adding an crawler to use companies house's APIs...

    Edit - it's worth saying that the date is currently 6 days hence, but that's because there is a lead time involved.
    Last edited by eek; 5 January 2022, 14:40.

    Leave a comment:


  • WTFH
    replied
    Originally posted by jamesbrown View Post
    Nice catch. I doubt we'll be seeing tabs1212 again
    It's only because one of her colleagues decided to spam the forum today that this thread got bumped, and bored mods did a bit of digging.

    Leave a comment:


  • jamesbrown
    replied
    Nice catch. I doubt we'll be seeing tabs1212 again

    Leave a comment:


  • cojak
    replied
    Originally posted by tabs1212 View Post

    Hello GT Monster, I'm aware that I am commenting nine months later and you've probably already found an umbrella company but I would recommend Ovations Umbrella. You should definitely contact them if you're still searching.
    I do hope that you've left this company - they are about to be struck off at Companies House.

    OVATIONS UMBRELLA LIMITED overview - Find and update company information - GOV.UK (company-information.service.gov.uk)

    The London Gazette entry here:
    11 Jan 2022 First Gazette notice for compulsory strike-off
    This document is being processed and will be available in 10 days.
    .
    Any money you've got in there will probably be lost.

    And since they are Professional Passport accredited I would take that accreditation with a pinch of salt as well...

    Leave a comment:


  • GT Monster
    replied
    Originally posted by tabs1212 View Post

    Oh I see, well I have been with them for quite a few months now and everything has been carried out smoothly so far, no disappointments here! But I appreciate the heads up, thanks.
    One thing worth doing is logging into the HMRC web site and checking that they are declaring the correct amount of tax for you. If they are, then its more likely just genuine new company taking advantage of the increasing number of people now looking for an Umbrella.

    Leave a comment:


  • cojak
    replied
    Originally posted by tabs1212 View Post

    Oh I see, well I have been with them for quite a few months now and everything has been carried out smoothly so far, no disappointments here! But I appreciate the heads up, thanks.
    Well you would, since you're not a contractor using them, are you?

    Oh, and I would kick your finance person up the bum, your accounts still haven't been filed...

    Leave a comment:


  • northernladuk
    replied
    Originally posted by tabs1212 View Post

    Oh I see, well I have been with them for quite a few months now and everything has been carried out smoothly so far, no disappointments here! But I appreciate the heads up, thanks.
    Everything is always OK when it's going smoothly. It's when it doesn't you are in trouble.

    Leave a comment:


  • tabs1212
    replied
    Originally posted by cojak View Post
    Well I’d watch them if I were you. They are only 18 months old and as of today are already late with their accounts.

    https://find-and-update.company-info...mpany/12462309


    That's a big red flag right there. I’d find another umbrella if I were you.
    Oh I see, well I have been with them for quite a few months now and everything has been carried out smoothly so far, no disappointments here! But I appreciate the heads up, thanks.

    Leave a comment:


  • cojak
    replied
    Thanks for the update GT Monster.

    Leave a comment:


  • GT Monster
    replied
    I first found Umbrellawork Ltd which appeared genuine when I found them on the net. They were also local to Manchester so I felt that I was supporting a local business. They offered services dealing with taxes in compliance with HMRC guidance. Circa 40 to 50-% of my income as tax which sounded correct.

    After onboarding which was quick and easy, I then spent the next 2 weeks failing to contact anyone from Umbrellaworx over the phone (just getting through to a telephone answering receptionist company, but never a call back from Umbrellaworx). I obviously was not going to use a company that I was unable to contact to manage my income. I then decided to do a companies house search on them and found that they were less that 2 years old with some directors outside of the UK. This made me even more nervous.

    After a further week of emailing to ask them to remove me from their system, they then contacted me back advised they were having problems with their computer systems. They apologised . To attempt to keep me they then offered me low tax (less than 15% of income) rates as an incentive. Suffice it to say I ran in the opposite direction and did not use them! Everyone knows that HMRC offers no discounts!

    What annoyed me the most was that the HMRC sent me a 'How to spot Tax Avoidance' letter which referred specifically to Umbrellaworx 2 weeks back! I definitely dodged a bullet by not using them!

    I went with SG Umbrella in the end.
    Last edited by cojak; 16 November 2021, 11:36. Reason: My bolding of a very interesting statement.

    Leave a comment:

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