• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.

Alpha Republic - please advise or review

Collapse
X
Collapse
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Alpha Republic - please advise or review

    Hi,

    I am a healthcare professional that is very new to the contracting gig. My next assignment is happy for me to be paid via umbrella company, thus presumably saving me some money overall.

    A colleague has advised 'Alpha Republic Limited' to help me with this and states he has had no issue with them.

    I have contacted them and they estimate I will be able to take home 75-80pc of my total pay: a base salary and a line of credit, that will increase my tax efficiency. They state that they have had full legal advice regarding this.

    Now my questions:

    1. Is anyone familiar with or able to review the above company?
    2. The enhanced scheme they are offering: base salary that is taxed plus line of credit - anyone familiar with this?
    3. Is this illegal/tax evasion?
    4. Is this tax avoidance and what is the law and HMRC's view on this? Frowned upon but legal, or will they come shaft me in the future?

    Thanks for any help you may be able to give. I am very new to this and don't have really have trusted mentors to ask currently.

    #2
    Please read this https://www.contractoruk.com/forums/...-umbrella.html

    It is tax avoidance and you only have to see this forum to find out what HMRC thinks of these types of schemes HMRC Scheme Enquiries.
    "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


      #3
      Originally posted by sabros123 View Post
      2. The enhanced scheme they are offering: base salary that is taxed plus line of credit - anyone familiar with this?
      Yes.
      3. Is this illegal/tax evasion?
      No. It's tax avoidance. And, regardless of what the scheme promoters say their tame QC says it doesn't work.
      4. Is this tax avoidance and what is the law and HMRC's view on this? Frowned upon but legal, or will they come shaft me in the future?
      They will come and shaft you in the future. After you've made the scheme providers very rich.

      Do not go anywhere near it.
      Down with racism. Long live miscegenation!

      Comment


        #4
        And to prove this ask the guy on the phone to confirm everything in writing

        I bet you get nothing back.
        "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


          #5
          Originally posted by NotAllThere View Post
          Yes.
          No. It's tax avoidance. And, regardless of what the scheme promoters say their tame QC says it doesn't work.
          They will come and shaft you in the future. After you've made the scheme providers very rich.

          Do not go anywhere near it.
          QC advice may well be it’s rubbish!!. Ask them to provide you with a written confirmation of this advice and ask who the QC was who gave them this ‘advice’.
          "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


            #6
            Speak to Clarity Umbrella. Lucy is a member here and has been very active over the years. She was also the owner of All Umbrellas Are Equal which helped sort out the good from the bad so knows what she is doing.
            'CUK forum personality of 2011 - Winner - Yes really!!!!

            Comment


              #7
              Originally posted by sabros123 View Post
              Hi,

              I am a healthcare professional that is very new to the contracting gig. My next assignment is happy for me to be paid via umbrella company, thus presumably saving me some money overall.

              A colleague has advised 'Alpha Republic Limited' to help me with this and states he has had no issue with them.

              I have contacted them and they estimate I will be able to take home 75-80pc of my total pay: a base salary and a line of credit, that will increase my tax efficiency. They state that they have had full legal advice regarding this.

              Now my questions:

              1. Is anyone familiar with or able to review the above company?
              2. The enhanced scheme they are offering: base salary that is taxed plus line of credit - anyone familiar with this?
              3. Is this illegal/tax evasion?
              4. Is this tax avoidance and what is the law and HMRC's view on this? Frowned upon but legal, or will they come shaft me in the future?

              Thanks for any help you may be able to give. I am very new to this and don't have really have trusted mentors to ask currently.
              I used to be a shareholder and sometime interim COO/CEO in a medical recruitment agency.

              If you can use agency or client/employer payroll

              If not be very very careful. There are lots of umbrella companies out there that will happily shaft you in one way or another. Buyer beware. Do lots of due diligence. "A colleague has advised 'Alpha Republic Limited' to help me with this and states he has had no issue with them" - he hasn't had an issue yet!

              I have heard lots of horror stories about umbrellas from both my time in IT and my time outside of it. I do not like the umbrella company sector. I think a huge part of it is "shady".
              Former IPSE member
              My Website

              Comment


                #8
                Originally posted by sabros123 View Post
                Hi,

                I am a healthcare professional that is very new to the contracting gig. My next assignment is happy for me to be paid via umbrella company, thus presumably saving me some money overall.

                A colleague has advised 'Alpha Republic Limited' to help me with this and states he has had no issue with them.

                I have contacted them and they estimate I will be able to take home 75-80pc of my total pay: a base salary and a line of credit, that will increase my tax efficiency. They state that they have had full legal advice regarding this.

                Now my questions:

                1. Is anyone familiar with or able to review the above company?
                2. The enhanced scheme they are offering: base salary that is taxed plus line of credit - anyone familiar with this?
                3. Is this illegal/tax evasion?
                4. Is this tax avoidance and what is the law and HMRC's view on this? Frowned upon but legal, or will they come shaft me in the future?

                Thanks for any help you may be able to give. I am very new to this and don't have really have trusted mentors to ask currently.

                Do not touch this with a bargepole. Please. You may otherwise spend the next many years stressed and being chased by HMRC for interest and penalties, and drowned in paper work.

                Speak to Lucy as NLUK says. The only clever tax saving thing you can legitimately do is a pension, if that's of interest.

                Comment


                  #9
                  Originally posted by Old Greg View Post
                  Do not touch this with a bargepole. Please. You may otherwise spend the next many years stressed and being chased by HMRC for interest and penalties, and drowned in paper work.

                  Speak to Lucy as NLUK says. The only clever tax saving thing you can legitimately do is a pension, if that's of interest.
                  ^^ This.
                  ---

                  Former member of IPSE.


                  ---
                  Many a mickle makes a muckle.

                  ---

                  Comment


                    #10
                    Originally posted by cojak View Post
                    And to prove this ask the guy on the phone to confirm everything in writing

                    I bet you get nothing back.
                    Honestly? I wouldn't even engage that much. Then you're in their sales pipeline. A firm, "I have recorded this phone call and am now sending it to HMRC" will get rid of them.

                    Comment

                    Working...
                    X