Cola

Would any contractors who earn 30k up, albeit in IT, stockbroking or any other business be interested in a TAKE HOME of around 83% or above? I've worked as limited and umbrella companies for the last ten years and I have not had this kind of return since good ol' IR35. Went to a new accountants yesterday who work for big recording artists and sports stars. After an hours presentation I was well sold. All is legit, no need for expenses or paperwork of any kind. It works using accounts in the IOM.

If anyone is interested in giving them a call or owt, drop me a PM. They're based in London. I'll admit there is a recommendation fee (wanna split lol) but I have signed up myself and a collegue of mine is metting them today. Just thought I'd let you guys know as it increases my take home by 300-400 per month.

Cola

PS: From what I understand they will also be dealing with small companies etc too (though I'm not sure how that one works!)

northerner

Hi Cola, is the contracting market bouyant?

Cola

Well I've not been out of work for a while...

Maria.

hmmmm not me personally but i know someone who would be very interested...... dya wanna pm me the details hun?

R4N SS

iTrader: (6)

i wish i earned 30k

Anonymous

Sounds good if its legit, i manage that sort of % take home anyway (all be it on a bit larger salary) but thats mainly cause i manage to write so much off in legitimate expenses.

Alex flower would be a good one for you to PM if he doesnt notice this post.

sunny

iTrader: (1)

Hi Cola, I have been on IR35 for a good few years now as I can't be asked to take the risk. Do they provide something in form of writing to confirm that you are legit baring in mind I was paying IR35 before? Would be grateful if you could let us know by pm or what ever.

Daveyboy

They manage David Beckhams accounts. So my guess is they are pretty much legit.

Anonymous

yeah but once upon a time i would have said the same about ken dodd's accountants too.

I used to use a firm called "low tax ltd" they were really good.

Cola

Maria, will do.

Chip, FP but most don't have legit expenses. I earn over that too, but I can't make up enough costs. Was thinking of Alex too.

Sunny, not a problem. IR35 doesn’t come into it. They pay a salary to you on minimum wage and then the rest is a no-payback loan through the IOM. You still pay tax.. But it's 5%. And whereas with a limited or umbrella company you can get whacked with nasty IR stuff as a stock holder or director, there's none of that this way. Even people who have been checked out by the IR have been fine. It's completely legitmate so there's nowt they can do.

Wish I'd heard of this about ten years ago!

Daveyboy

fairplay, best you stick to what you've got then eh

Anonymous

You can still get hammered by IR35 though, as the revenue have the right to look at the relationship between the contractor and the end client and to ignore any third party companies involved.
Not sure if the fact it goes via the IOM would really effect that though if you are still UK resident as technically you still fall under UK tax laws no matter where the income comes and goes, but i guess if they cant "see" the money in the IOM its all cool.

I'd keep the tax back to one side for a few years just in case though, then if they IR35 you you arent any worse off, and if they dont you get a nice big lump sum.

Cola

Chip, it has nothing to do with IR35 and if I could be arsed I would stay and argue all day about it, but I advise anyone who is interested to speak to the people themselves as I'm sure they could explain it far better than I. (plus I don't have my paperwork on me) As I say Chip they get all the tax the require for such a holding, so there is nothing to come back to you.

Anonymous

Anything the IR deem as "concealed employment" is a potential for IR35, they are taking people to court left right and center at the moment, but normally lose, just a case of wether or not you have the bottle to go to court, the fact you are in the right doesnt stop them pursueing you so im just warning people to be prepared.

Anything that puts cash in your pocket not the taxman's has to be a good thing though so i hope it works out for you

Cola

Chip, would you like their number so they can tell you?!

As explained you pay all the tax they require. One person was investigated last year, the company showed the accounts and details to IR and there was nothing to be done.

I dunno… you try and help some people and you get ag back.

Daveyboy

wind ya chin in Chip ffs

POPEYE

now now you 2,,,,, i only saw it as chip asking a question

Cola

lol @ pops, I see no question, I see a statement. Plus I'm only offering help

POPEYE

ok then carry on,,,,i know you, dave and chip are great friends


and rudey,,,, i bet you see a god looking man in the mirror while shaving

~Vix~

chip's only saying what he knows...he seems to be in a tame mood

Cola

Vix - as was I!!! Chip's bound to know about this specific company more than I, cos I was only there yesterday lol.

Stuff this, I'm offski. Last time I try to help anyone.. Or at least til I've forgotten this episode!

~Vix~

there's no need to get so stressed and have a go though. to be fair I'm guessing he knows a lot more about it since you were only there yesterday. just chill

Maria.

cheers cola youre an angel!

Daveyboy

Cola offered to try and help people, as usual the all knowing chip stuck his oar in. She wasnt having a go, she was telling what she knows, and seeing as she has just visited the company in question and chip hasnt, i would say she knows a bit more about this than him. so you take your oar out, and you chill.

POPEYE

what was the date again cola

and rudey as if i would bait you,,,, theres no way i could pull a squid up from the water

Daveyboy

4th Pops, dont forget my present

POPEYE

go windmill them all dave

vix,,,,, shut up,,, or i will get radders to make you lick his knee

POPEYE

ok,,,just added it to my little black book

dont worry about your present,,, i always have a sack full ready for you

Daveyboy

only when im laggin Pops

Anonymous

I didnt mention anything about the company in question, and dont claim to know anything about them, what i was saying is that under IR35 law the IR have the right to ignore any relationship with intermediate companies and look directly at the relationship between the client and contractor and send you a tax bill accordingly.
They often do this when they shouldnt though, so a lot of the time you can ignore the bill, i was just warning people that they MAY experience this so to be prepared for it if they do down that route (just like the person Cola mentions who has just been investigated was hopefully prepared for that possibility)

Cant see what you are both getting so stressed about TBH

As i said, anything that puts cash in your pocket not the taxmans is worth looking into.

Daveyboy

sooooo wrong

Daveyboy

Hope you've got the 4th in your diary too Rudester