Originally posted by lucyclarityumbrella
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Ask if they have a DOTAS number 
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I bet they are QC approved tooOriginally posted by Stevie Wonder Boy -
Makes sense, this means they would have to work out shares in real time according to contracts and profit. The only way I can see this, is at the end of every financial year, so you would have to make do with your £18k a year, then at the end the XX Company will pack up go and whilst enjoying all them "dividends" from all the contractorsOriginally posted by eek View Post
probably in a bank in Panama or one of the other islands in the Caribbean.
In regards to the NHS contractors, not sure what to say. They seem to be pretty happy doing it still. I know for a fact one of them is doing this to avoid paying higher child support, which is damn low.Last edited by Drei; 28 February 2020, 15:10.Comment
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Undoubtedly! Probably HMRC approved tooOriginally posted by SimonMac View Post
(and in case HMRC are watching that was a joke, we all know you don't approve anyone or anything, although maybe you should when it comes to umbrella's! hint hint)Comment
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I see that PAYEworx have popped up again on LinkedIn. I've asked them to better explain their "IR35 Protected Limited Company", but I'm not holding my breath for a clear and unambiguous answer in public... I might request one of their "information packs".
Not too sure what I'll find...
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Former member of IPSE.
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Many a mickle makes a muckle.
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Ha-ha-ha-ha-ha...Originally posted by wattaj View PostNot too sure what I'll find...
https://i.ibb.co/cTCj9S0/Capture.png
PS: why can't I post pictures any more?
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Former member of IPSE.
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Many a mickle makes a muckle.
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Oh, clever. They've dropped the outlandish >80% lark to a more 'believable' 77%.Originally posted by wattaj View Post
(And it's better that you don't post a picture in this instance, trust me...)"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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And today Payework finally made HMRC's list of dodgy schemes see https://www.gov.uk/government/public...s#payeworx-ltdmerely at clientco for the entertainmentComment
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"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Not the only one it seems!
"The most recent update was on 24 August 2023 with the addition of Payeworx Ltd and SmartPay Limited."Comment
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“The scheme user enters into an employment contract with Payeworx (PWL), and the scheme user’s Personal Service Company (PSC) is issued a share in Contractor Buddy PCC Limited (CBP), a connected protected cell company based in the Isle of Man (IOM). PWL pay the scheme user a salary that is around the minimum amount required by the National Minimum Wage Act 1998. CBP make a separate larger payment without deducting Income Tax and National Insurance Contributions to the scheme user’s PSC, supposedly for a dividend. CBP deduct around 2% from the larger payment as a fee, and a further 19% which they claim is Corporation Tax (CT). However, the rate of CT in the IOM is 0%. The scheme users are expected to distribute the alleged dividend amount as they see fit.”
That’s some margin! Now that they’ve made a HMRC’s list, they’ll no doubt go into administration shortly, leaving their clients over the last many years holding the bag.Comment
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