A new term: "Advanced Umbrella"

[cojak]

Some innocent has just asked me what advanced umbrellas do that's different from normal umbrellas.

This is a new term, the company is The Contractor Group .co.uk I told him it's probably not something he'd want to join.

They're popping up everywhere I tell ya!

[northernladuk]

Some innocent has just asked me what advanced umbrellas do that's different from normal umbrellas.

I hope you answered 'Ruin your life'.

[Neil@Intouch]

We would like to wish Advanced Umbrella a happy birthday as a company last week. No doubt, sadly it will die prematurely, just before your tax enquiry starts.

Anyone that transacts with this would be foolish. Firstly, the tax legislation has not been issued in its final form, we know the draft from December is changing, so how they can have obtained QC opinion is beyond us. Secondly the quality of QC opinion depends on the instructions that were given to the barrister. So everyone should ask to see the instructions to the barrister as well as the opinion given.

The basic description describes a series of transactions that will be caught either by the GAAR or by DOTAS.

[Andy Hallett]

And no self respecting agency would touch it with a bargepole as they would be sat with the liability under the Onshore Intermediaries

https://www.taxation.co.uk/Articles/...do-you-work-me

[LondonManc]

We would like to wish Advanced Umbrella a happy birthday as a company last week. No doubt, sadly it will die prematurely, just before your tax enquiry starts.

Anyone that transacts with this would be foolish. Firstly, the tax legislation has not been issued in its final form, we know the draft from December is changing, so how they can have obtained QC opinion is beyond us. Secondly the quality of QC opinion depends on the instructions that were given to the barrister. So everyone should ask to see the instructions to the barrister as well as the opinion given.

The basic description describes a series of transactions that will be caught either by the GAAR or by DOTAS.

Are you mad? I can get 85% take home from them and that's even with them taking their fee.

Unfortunately there's a massive gap between what they can offer and what you should take home through an "unadvanced" umbrella (no offence Lucy!); this plays on the inherent greed of humans and a belief that they're being hard done to by having to pay what they should.

[TestMangler]

And no self respecting agency would touch it with a bargepole as they would be sat with the liability under the Onshore Intermediaries

https://www.taxation.co.uk/Articles/...do-you-work-me

See where you went wrong there ???

[LondonManc]

And no self respecting agency would touch it with a bargepole as they would be sat with the liability under the Onshore Intermediaries

https://www.taxation.co.uk/Articles/...do-you-work-me

Have a look at their website, Andy. You as an agency don't "touch" the advanced umbrella - the contractor gets the money from you, gives it straight to the advanced umbrella and they give it back to you less 15% and you get to keep the rest. Absolute simplicity. So advanced you could put a tail on it and call it a weasel.

[Andy Hallett]

See where you went wrong there ???

I'll keep setting these up for you to tuck away!

[Andy Hallett]

Have a look at their website, Andy. You as an agency don't "touch" the advanced umbrella - the contractor gets the money from you, gives it straight to the advanced umbrella and they give it back to you less 15% and you get to keep the rest. Absolute simplicity. So advanced you could put a tail on it and call it a weasel.

I had heard that this is doing the rounds as a work around to the new off payroll rules.

Even if we do not pay this company, as 'Intermediary One' there is a transfer of liability risk that sits with us should the worker or 'umbrella' down the chain not be able pay the correct taxes.

Still HMRC probably would have gone after the poor contractors house long before it hits us.

[Fred Bloggs]

But when you see things like this on the web that I spotted today -

Enjoy Up To 90% Of Income After Tax & NI Contributions

We deliver transparent, honest and fully compliant advice on your possible returns. At Paye Compare dot com we refuse to take risks to give a nominal increase in take home value which could result in an HMRC investigation.

Is it any wonder some folk are taken in by it? Shouldn't website advertising like this be illegal? May be it already is?