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View Full Version : Anyone here using Payscheme+



shahsy
12th March 2004, 16:40
I'm due to start a contract next week and have been looking at umbrella co's. One that seemed interesting is Payscheme+.

Is there anyone here that has used them or is currently using them?

www.payschemeplus.com/index.php?loc=Home&x=x.home (http://www.payschemeplus.com/index.php?loc=Home&x=x.home)

A search here didn't bring back any results.

Any comments would be appreciated.

TIA

s

1gofishing
19th March 2004, 12:54
Looks like a rip-off scheme - 5% of gross is a huge amount for nothing more than PAYE and Schedule-E expense administration.

Sorry, but there's a lot of these around..

freshblue
19th March 2004, 13:09
Go with a vanilla brolly...

parasol
orange genie
contractor umbrella

cg51
20th March 2004, 21:19
I have been using them for about 3 months and once everything is set up it all seems to work well.

It works via an offshore company and you receive a loan against accrued dividends as well as a minimum wage so take home is a high % of earnings.

Only concern now after the budget is whether what will happen when this scheme registers... Any ideas on how risky it is to continue with this?

freshblue
22nd March 2004, 11:48
But surely the very fact that you are using this type of scheme means you know it is very risky anyway! I would think that you are at more risk of your dosh gowing awol than the revenue stopping it. At least with the latter you would get some notice! Ever heard of the dignatio saga??

freshblue
22nd March 2004, 11:59
www.namesfacesplaces.co.u...hotopage=0 (http://www.namesfacesplaces.co.uk/html/view_news_article.asp?id_no=1600&photopage=0)