Compusource, anyone?

[ASB]

Yes unfortunately an umbrella company cannot process expenses that were incurred during another employment; you may however be able to claim the tax relief through self assessment.

There is an ni hit, but its better than nothing of course. Its always struck me as a bit mean that you cant get ni relief. But such is life.

[Elliegirl]

There is an ni hit, but its better than nothing of course. Its always struck me as a bit mean that you cant get ni relief. But such is life.

Sorry, can you elaborate? I don't understand what you mean by NI hit.

[Craig at Nixon Williams]

Sorry, can you elaborate? I don't understand what you mean by NI hit.

You will be able to get tax relief through self-assessment, but you won't be able to claim any sort of deduction on the NI.

Better than nothing though!

Craig

[Elliegirl]

thanks. I'm also not even sure when my 'employment' with Compusource ended. Was it from December, when I stopped asking them to submit invoices on my behalf? Their website, which had disappeared, has come back online but they do indeed seem to have gone out of business. I called the number and no reply. Because they stopped sending me pay advices I don't even have those from October. Bit worried about the implications of all this.

[cojak]

thanks. I'm also not even sure when my 'employment' with Compusource ended. Was it from December, when I stopped asking them to submit invoices on my behalf? Their website, which had disappeared, has come back online but they do indeed seem to have gone out of business. I called the number and no reply. Because they stopped sending me pay advices I don't even have those from October. Bit worried about the implications of all this.

Choose an new way QUICKLY - be it umbrella or Ltd.

Look here if you're not sure http://www.contractoruk.com/first_ti...r_company.html but there is advice on this thread

Once you have done that choose an umbrella company or an accountant. (have a look though threads here if you're worried about jumping into the fire...)

Call your choice - they will be able to help you sort this out.

[LisaContractorUmbrella]

thanks. I'm also not even sure when my 'employment' with Compusource ended. Was it from December, when I stopped asking them to submit invoices on my behalf? Their website, which had disappeared, has come back online but they do indeed seem to have gone out of business. I called the number and no reply. Because they stopped sending me pay advices I don't even have those from October. Bit worried about the implications of all this.

You need to know what your tax position is - whether or not the correct payments to HMRC were made by Compusource and whether or not you will owe anything to HMRC. I assume that you didn't receive a P45? If you PM me one of your pay advices I can see whether or not PAYE was operated correctly.

As Cojak said - you need to find another umbrella or set up a Ltd Co asap

[Elliegirl]

Thanks all. Now I AM nervous! I'm trying to sort this out between now and Monday, but what's the implications of not sorting this out quickly? what kind of problems could I find myself in?? really appreciate the great advice I'm getting!

[cojak]

Thanks all. Now I AM nervous! I'm trying to sort this out between now and Monday, but what's the implications of not sorting this out quickly? what kind of problems could I find myself in?? really appreciate the great advice I'm getting!

1) Not getting paid FOR ANY WORK from next week (immediate problem). - In fact you may have already lost this week's money...

2) Getting into trouble with the tax man (not immediate, but it becomes a serious problem pretty damn quick).

[Elliegirl]

I think the payment thing is ok. I submit my timesheets to the company's system which are then signed off internally. I was then completing a timesheet on Compusource's system, and they would then invoice the company I'm working for. So basically I have a backlog of timesheets that need invoicing for, so I'm still due to be paid.

The taxman sounds like the much more serious problem!!

[LisaContractorUmbrella]

I think the payment thing is ok. I submit my timesheets to the company's system which are then signed off internally. I was then completing a timesheet on Compusource's system, and they would then invoice the company I'm working for. So basically I have a backlog of timesheets that need invoicing for, so I'm still due to be paid.

The taxman sounds like the much more serious problem!!

So you are working through an agency and they have a record of hours worked but you don't have an umbrella company/Ltd co to bill them - is that right? Firstly I would check with the agency that the last invoice they paid Compusource corresponds with the last payment that you received - it's possible that they received money from your agency but it didn't come to you before they folded.

How were Compusource paying you? What tax and NI deductions are shown on your payslips?