Reply to: React administration - umbrella company

[GreenLantern22]

What I would do if I were you, aside from changing to a real umbrella company, is to inform HMRC that you have had additional income to declare and submit a Self Assesment tax return in the relevant tax year. Then declare all the income you got from the dodgy umbrella company in the tax return. Use the net you got paid from the dodgy umbrella company into your bank account as the gross amount. Assume the dodgy umbrella company paid zero tax on it and pay full tax on that. This will remove any tax liabilities from the dodgy umbrella company income.

[eek]

And more importantly, if I can expect to be taxed additionally.

You will be - but HMRC don't rush to chase things up because they can add penalties and interest if you receive money on which tax is due and you haven't paid it. So they are often happy to wait a bit and let the fines and interest build up a bit.

[cojak]

Thank you all for this thread as I am alarming I also signed up with this agency.

Although, they contacted me via bestwage https://Www.nope-no link.co.uk, which I can now see is yet another duplicate of signature vintage https://Nope-no link.co.uk and excala solutions. Appears to be a phishing scheme. I even requested a breakdown of how they contribute to tax and IR35 and they refused due to "fear of companies stealing their model".

I was curious about ACDC, whether HMRC contacted you, and their feelings regarding these practices. And more importantly, if I can expect to be taxed additionally.

Yes, you can expect to be taxed additionally.

[Blueeyes2587]

Thank you all for this thread as I am alarming I also signed up with this agency.

Although, they contacted me via bestwage https://Www.nope-no link.co.uk, which I can now see is yet another duplicate of signature vintage https://Nope-no link.co.uk and excala solutions. Appears to be a phishing scheme. I even requested a breakdown of how they contribute to tax and IR35 and they refused due to "fear of companies stealing their model".

I was curious about ACDC, whether HMRC contacted you, and their feelings regarding these practices. And more importantly, if I can expect to be taxed additionally.

[ACDC]

Thank you for your research. Interesting.

I have just registered with a trustworthy Umbrella now, as advised here on the forums.
Thank you all for your input and safety advice.

[WTFH]

One of Kevin's other companies is https://signature-vintage.co.uk/index.html
Which seems to have copied the https://www.excalasolutions.co.uk website

Two of the other companies have terrible websites - Intu and Expertise.
Intu have words but no links to a privacy policy and Expertise have a blank logo.

...interestingly, the Expertise website was designed by (or copied from) Digital Group, based in the Isle of Man

[WTFH]

I do.
React.
Company reg 14205939

Interesting that on their website there is a landline phone number in the Privacy Policy. It is for a company called "Freedom To Outsourcing", which is owned by completely different people to Kevin Taylor, but it looks like an identical website... https://www.f2ol.co.uk

Edit: just checked the source code and React have lifted the whole site, then just replaced their logo.

<div class="col-sm-2">
<a href="index.html">
<img class="hidden-xs center-block" src="assets/img/f2o-logo.png">
<img class="visible-xs-inline" src="assets/img/f2o-logo-mobile.png">
</a>

I've let F2O know that their site has been copied.

[ACDC]

have you got a website or company name for react - be handy to do some digging

I do.
React.
Company reg 14205939

[NotAllThere]

Not sure I'd have done that.

Well that looks a bit better. Nothing about loans, share, part payments or anything like that elsewhere? No menion of 80% retention in their sales blurb and so on?

Seeing as they are operating a loan scheme, this bit looks suspicious. We are entitled to recover from Your salary any money that You may owe to us at any time. I.e. "Honest, Mr taxman, it's a real loan, not a pretendy one to avoid tax!".

I'm also suspicious of the agency from recommending these people.

[Andy Hallett]

On the face of those figures, run away.

[ACDC]

Are you not questioning how can you get paid £750 on a gross amount of £350?

The reality:

27.5 * 32 = £880 (Gross amount)
£750.75/£880 = 85%

Run away as quick as you can.

Exactly, that's why I started researching

[Paralytic]

Gross amount on a payslip - £350
Hours worked 27.5hrs, hourly agreed rate £32

Are you not questioning how can you get paid £750 on a gross amount of £350?

The reality:

27.5 * 32 = £880 (Gross amount)
£750.75/£880 = 85%

Run away as quickly as you can.

[ACDC]

Coming back to this, what was the gross amount on your payslip? You got paid £750.75 - what percentage of your hourly rate * hours worked is that

Gross amount on a payslip - £350
Hours worked 27.5hrs, hourly agreed rate £32

[Paralytic]

My tax code 1257L w1m1
So I got paid £750.75
Payslip says weekly pay of £350, after NIN and tax, £315.44
Propelled payment notice £435.3

Coming back to this, what was the gross amount on your payslip? You got paid £750.75 - what percentage of your hourly rate * hours worked is that

[Helpinghand]

have you got a website or company name for react - be handy to do some digging