Anyone here using Payscheme+

[shahsy]

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

A search here didn't bring back any results.

Any comments would be appreciated.

TIA

s

[1gofishing]

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]

Brolly

Go with a vanilla brolly...

parasol
orange genie
contractor umbrella

[cg51]

Payscheme+

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]

Risk

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]

And this.......

www.namesfacesplaces.co.u...hotopage=0