Has anyone heard of or dealt with Garraway Consultants? Basically they're offering to get me about 85% of my contract rate, and that just sounds a little too good to be true, so I'm being cautious.
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Garraway Consultants - Too good to be true?
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Yes, it is too good to be true."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank... -
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I've had a similar approach from Origin Payment Solutions, they offered me a 84% take home rate on 100k.
is all this a load of crpa or is it worth a look?Comment
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It's easy to 'get' 85% if you have lots of expenses but you don't actually 'get' 85% because you had to shell out in the first place.
I have a rule of never dealing with any company with 'solutions' in their title.Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave JohnsonComment
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Originally posted by sn0wm0nkey View PostHas anyone heard of or dealt with Garraway Consultants? Basically they're offering to get me about 85% of my contract rate, and that just sounds a little too good to be true, so I'm being cautious.Comment
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I just don't see the point of using a dodgy company for an 85% return.
Just go and work for one of the ICT abusers and shack up with 15 other blokes in a single bedsit on minimum wage. These are the only jobs that'll be left soon.Comment
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Originally posted by ChimpMaster View Post
Just go and work for one of the ICT abusers and shack up with 15 other blokes in a single bedsit on minimum wage. These are the only jobs that'll be left soon.Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave JohnsonComment
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Garrway Brochure
This is the details in the pdf brochure they sent me:
When you join Garraway Contracts you become
an employee of Garraway Contracts. Garraway
Contracts invoice your client for the services
you provided at your agreed rate. Garraway
Contracts pay you a salary equivalent to the
national minimum wage which is then subject to
PAYE.
As an employee of Garraway Contracts, we will
deduct all necessary tax and national insurance
liability from this salary prior to paying you.
The remainder of the contract value becomes
the profits of the company.
To process the rest of your income, Garraway
Contracts agree to a rolling credit facility with
you. This rolling credit facility is employment
related for tax purposes. As you pay interest on
the rolling credit facility at official rate, it is tax
free. The rolling credit facility will be enough so
that, after the payment of tax on your salary
and interest on rolling credit facility, your net
income plus the rolling credit facility amount,
add up to an agreed percentage (typically 90%)
of the contract value.
The employed status of the solution will mean
that you should not have to complete a tax
return for the income earned through Garraway
Contracts. It’s worth noting however, that you
may need to if you have other sources of
income.Comment
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