Bedouin Tax Solutions

[BlasterBates]

As you say it's all conjecture and IFs at the moment and so best thing to do is set aside the difference and if they come for it they come for it - lesson learned.

Bear in mind this could take several years and they will be demanding more due to interest building up. On the whole they don´t demand penalties but the way things are going I would not exclude that as a potential risk.

My view would be sort it out in this tax year simply to give you peace of mind and knowing the money does actually belong to you.

Lets face it the money will just end up in a special account waiting for it to be safe, which is years.

[JamJarST]

Thanks for the above Wanderer, essentially the sort of response I was looking for when I first posted. I'll be moving on to a Ltd therefore would assume from my tax return I will be voluntarily flagging myself to HMRC in the process, can't be helped I suppose. As you say it's all conjecture and IFs at the moment and so best thing to do is set aside the difference and if they come for it they come for it - lesson learned.

As previoulsy stated it only covers the last 5.5 months so it could have been a lot worse

Cheers again

Do some research on IR35, my gut says you were inside in your last contract because you expected it to be come permanent and you probably allowed Direction & Control. Make sure you get the new contract reviewed and go into the new arrangement, whether it be Umbrella or Ltd, with both eyes open.

[thebear14]

Do some research on IR35, my gut says you were inside in your last contract because you expected it to be come permanent and you probably allowed Direction & Control. Make sure you get the new contract reviewed and go into the new arrangement, whether it be Umbrella or Ltd, with both eyes open.

I will probably opt for a Ltd, does anyone have any experience of Tempo Accounting as a service provider?

[captainham]

I will probably opt for a Ltd, does anyone have any experience of Tempo Accounting as a service provider?

No, but you can also look on this thread for ideas:

http://forums.contractoruk.com/accou...-requests.html

[Wanderer]

I will probably opt for a Ltd, does anyone have any experience of Tempo Accounting as a service provider?

Not heard of that one but you should do a search and see...

Also see the Accountant Recommendations thread for a list of the usual suspects who advertise on this website or post helpful information in the forum along with others that people use and recommend.

As others mention, you need to understand your position with regards to IR35 (ie, get a professional contract/working practices review)

[LisaContractorUmbrella]

I will probably opt for a Ltd, does anyone have any experience of Tempo Accounting as a service provider?

Did you note the comments JamJarST made on IR35? You can't claim dividends through your Ltd Co if you are inside IR35 - all bar 95% of your income will have to go through PAYE and you will be responsible for paying both employees and employers national insurance.

With regard to the accountant - pick one that has experience in the world of contractors. tbh never heard of TEmpo

[porrker]

Appreciate that, not much I can do now though is there

You haven't been using an EBT or any other kind of Trust. Bedouin stopped using a trust structure in December 2010.

[cojak]

As far as I'm aware yes. I went with them through a recommendation but as it's only been 6 months and I'm moving to a new contract I thought it prudent to see if anyone was aware of any developments on their legality. As most people mention their rate of retention is significantly higher than umbrellas (I'm a £250 daily rate and my total deductions are around 19%) I'm just wary about continuing if I'm going to be embarking on yet another contract. I had Oxygen360 recommended to me, anyone any thoughts on them?

Not all umbrellas are off-shore schemes but they will take the standard* amount of tax from you that will enable you to sleep at night.

At 19% you are just asking for trouble - I hope the amount you have saved is worth it.

(*Note that I didn't say 'proper'.)

[thebear14]

You haven't been using an EBT or any other kind of Trust. Bedouin stopped using a trust structure in December 2010.

Certainly all their documentation they provide at the time of joining indicate a trust structure where the monies are "loaned" each week

[DonkeyRhubarb]

Certainly all their documentation they provide at the time of joining indicate a trust structure where the monies are "loaned" each week

I suspect you may find that it wasn't an EBT because you were not an Employee.