Payeworx

[xar18]

Hi all,

Seen these guys advertising all over LinkedIn, the face/founder is very active and getting involved in a lot of IR35 chats, very transparent about the fact it is a recently incorporated company (Sept 2019).

However, can't help but feel its a new breed of 'scheme', albeit they are actively advertising and engaging rather than the usual smoke and mirrors.

[url=https://w ww.payeworx.co.uk/

Just posting in case anyone else has come across / using them?

[wattaj]

Payeworx is here to help you navigate through your options and give you viable alternatives to loosing upto 30% of your earnings as you move from Ltd to Umbrella.

Hmm...

[xar18]

Hmm...

Indeed. And £350 per week fee...

[Grasser73]

Hmm...

Never trust anyone who cannot even spell 'losing'.

[wattaj]

Never trust anyone who cannot even spell 'losing'.

Maybe SIC? Maybe they want to unleash that 30% and set it free...

[lucyclarityumbrella]

And an umbrella company, who on the enquiry form asks for the number of shareholders! Really

[VelcroPower]

"Doing nothing simply won't be an option by April 2020 as all end clients will have made a desicsion on how they engage with thier contractors. If you wait until your end client makes that decision, you are likeley to have even less options. By acting now, you can get ahead of the curve and not get tied up in the chaos next year."

It's that level of attention to detail that you really want to see from a company that calculates your payroll.

The guy that set it up has number of tiny/failed/brand new companies on his Companies House CV but he's not even put Payeworx on LinkedIn. LinkedIn says the company has been going since 2018, not 2019. There's loads more but basically every warning klaxon possible is going off right now.

Overall you'd probably be better off shooting your money into the sky with a firework and then collecting what floats back down.

[cojak]

No umbrella company should be touting a ‘unique solution’ - all legitimate umbrellas work the same way.

And if you work through an umbrella, you put any Ltd company to one side as you become the employee of the umbrella.

Also, I would be very suspicious of any ‘umbrella’ that requires a phone call to explain what your take home would be, a legitimate umbrella’s explanation is straightforward and usually available on the website via a calculator.

I would use Paystream or Clarity if I were you.

[SimonMac]

They've come up before

This is how they explain their model:



This is how they should explain their model:

https://i.ibb.co/6rqmfyJ/Magic.png

[cojak]

Do where does the Corporation Tax turn up on this diagram? And who pays the VAT?