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HA HA HA HA
A bit sus !!!! Thats the understatement of the year.
Would you sign up to this knowing that you had to contact [email protected]
I'll give them 5 minutes before they go "bust" taking all the gullible contractors income with them !!! -
Can you believe they let this be advertised on Jobserve?!
You'd think Jobserve would have SOME dignity.Comment
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Forex is a zero-sum game.
Yep, you can probably make 85% on it, but only because someone else has lost 85% (OK that's not mathmetically correct).
How do you know which group you're going to be in.
timComment
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We would encourage contractors to claim as much expenses as possible. The claim is processed the day the claim has been received. There is no deduction on this.
Oh dear dear dear dear dearComment
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As you are now a full time employee of a offshore company the monies you receive are out of the jurisdictions of the UK Tax system.
Comment
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Dodgy or what?
Only a bit sus TazMaN?Originally posted by TazMaN
I've just done a bit of delving into this one after looking at the link you posted
Erm probably the only company, I thought the loophole regarding forex had been closed long ago?http://www.winstoni.com/"This mechanism is utilizing a little known loophole hence enabling the contractor to gain maximum returns. Winstoni Finance is one of the only Umbrella companies offering this benefit."
It would be interesting to see what TOP Financial Advisors "approved" their scheme!http://www.winstoni.com/"The scheme has been fully approved by TOP Financial Advisors."
How can an offshore company act as a UK limited company?http://www.winstoni.com/"Winstoni Finance is a offshore company which acts as a UK limited company for UK Contractors."
The web site has no bricks and mortar address, not even a mailing address. Not a good sign when people are dealing with your finances!
What I don't get and this is the really interesting part for me is, if Winstoni Finance are an offshore foreign exchange brokerage, why would it's website be registered to the same address as that of IT MANAGE LIMITED, who is the company they claim handle their invoicing? Company No. 05027841, This company is based in Old Windsor, Berkshire and the owners contact details are a UK mobile number and a slough based landline???
The owner of Winstoni's website is a:
registrant-firstname: Sandy
registrant-lastname: Liddar
registrant-organization: Upton Contracts
registrant-street1: *********, Old Windsor
When you look up IT Manage Limited they are based at the same Old Windsor Address
Company Name:
IT MANAGE LIMITED
Company No: 05027841
Did you note the reference to Upton Contracts in the whois of Winstoni? Well if you look up Upton Contracts you will find that the company was a Berkshire based company that is disolved now and was once under directorship of a Sharonjit Liddar. Any relation to Sandy Liddar by chance? Now it doesn't take Kojak to work out where all this is going now does it?
Hmm, I sense deja vu, anyone familiar with Dignatio? By the way anyone know where Grace Pestano is these days?
From what it appeared Dignatio's forex broker was not an independant forex broker at all, and was simply Dignatio operating under a completely different guise. Now I'm not saying that Winstoni is operating in the same capacity, however just have a look at the facts for yourself. All seems a bit dodgy to me.
Anyone who is a member of Winstoni should seriously look at their circumstances and anyone looking at joining a company like Winstoni should try and find out as much as they can about the forex broker that company says it uses and I would strongly suggest they talk to the broker directly!
C'mon lets face it 85% return? £8,500 minimum salary>?>? And this wouldn't fall to the scrutiny of the revenue?Comment
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yeah a bit sus eh?!
Good research and insight, made a very interesting read.
What would you say about my other posted regarding Global?Comment
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I dealt with this company too at one point for a couple of my assignments. So I know about all of the above set up. When I spoke to the contact - Sharon recently (just before Christmas) - she claimed that they no longer operate a FX scheme and that IT Manage (Upton Contracts) are now regular Paye brollie. Clearly she was lying when she said she no longer has dealing with FX.Originally posted by bangface
The company are registered in the UK for salary purposes but the FX part of the scheme were based in the Dominican Republic and loans sent from that company not the UK one. Therefore, it is apparently a legitimate loophole scheme although Sharon did tell me that she doubted that it would be viewed favourably with the Revenue for much longer (that was about two years ago). That's why IT Manage never advertised directly and only dealt with a few contractors not loads like the old bigger FX schemes that did advertise, like Norla. The old Director was a woman called Pam Liddar who apparently has nothing to do with IT Manage anymore (according to Sharon). Presumably that's why IT Manage have gone PAYE. However, if Wistoni are still operating a FX scheme then the information she conveyed to me was incorrect because I know that Sharon is still the contact for this Wistoni FX scheme too.
When I went through this scheme they gave me a regular employee contract that states that you have four weeks holiday, sick pay, grievance procedures etc. That makes you look like a normal employee of IT Manage as if you work for them directly on site and they send you payslips on the salary part of your income. The FX notices are sent separately when the FX money comes through from Dominican Republic and a loan notice sent to you saying you have to pay the money back after a year with 5% Revenue charges. In effect, the loan has already been paid with the part of your fee used to swap for the FX currency which means you don't need to act on this loan notice or declare this income on your tax returns.
After my dealings with them, I would give them (IT Manage) and Wistoni a very wide berth indeed. Whether the scheme is legit or not, the company treated me very badly just before I left them.Last edited by Denny; 2 February 2006, 12:54.Comment
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Oh look, something else to blame on you tim!Originally posted by tim123
Anyway...we all know how this one will pan out. The group that makes the 85% profit will be the people who own this company while the group that loses 85% will be everyone who signs up!
Now the question is...how many of you goons have signed up?
MailmanComment
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