PDA

View Full Version : any idea on betterpay?



contract73
17th December 2012, 22:19
I was offered a contractor job. Aware that Limited company or umbrella are the best options for an efficient take home, however betterpay.co.uk has offered guaranteed 85% take home.

Just wanted to check if any of you has used betterpay.co.uk services? If so can any one tell me what route they take to pay 85% take home monthly.

Any help you can provide will be graciously received.

LisaContractorUmbrella
18th December 2012, 08:09
Well, there is no information whatsoever on their website about the product they offer - red flag one
They are 'compliant' with IR35 and have tax counsel opinion - red flag two
They actually quote a take home pay of 90% - red flag three
There is no mention of the cost to you (experience would tell me it will be 5-10% of the contract value) - red flag four
There is no mention of them on Companies House - red flag five.

If the red flags don't put you off, wander over to Accounting and Legal and check out the thread on section 58

cojak
18th December 2012, 08:13
I was offered a contractor job. Aware that Limited company or umbrella are the best options for an efficient take home, however betterpay.co.uk has offered guaranteed 85% take home.

Just wanted to check if any of you has used betterpay.co.uk services? If so can any one tell me what route they take to pay 85% take home monthly.

Any help you can provide will be graciously received.



Anything that sounds too good to be true often is.

Make sure that you understand how much of that 15% the company is giving to HMRC and how much they are pocketing for themselves.

And remember to ask them how they will protect you in the event of HMRC coming round to your house demanding their pound of flesh.

Also take a look at the salesman/directors of the company in LinkedIn. Write down the names of previous companies they've worked with. Then google the names (you might even try 'company name site:forums.contractoruk.com').

Come back and tell us what you find.

cojak
18th December 2012, 08:16
This is why I let 1st time posters asking about these type of providers through, they get indelibly inked with our responses. :D

northernladuk
18th December 2012, 12:16
Just to add to this... If you google their phone number it also appears as a competition entry line on PhoneCompetitions.co.uk (http://www.phonecompetitions.co.uk/) Look for the Wembly tour.


What is the name of the poker hand containing three of a kind and a pair?
If you think the answer is:
Full House - call 0845 619 6286 or click here,
Half House - call 0845 619 6287 or click here,
Flush - call 0845 619 6288 or click here,
Two Of A Kind - call 0845 619 6289 or click here,
or Straight - call 0845 619 6280 or click here.

northernladuk
18th December 2012, 12:22
Have a look at this tread to see more crappy websites that have popped out of the IoM

http://forums.contractoruk.com/accounting-legal/84584-look-everyone-someones-planted-some-beans-2.html

Betterpay is..

Domain name:
betterpay.co.uk

Registrant:
Eat It Now Group Limited

Registrant type:
Unknown

Registrant's address:
1 Mount Pleasant
Douglas
Isle Of Man
IM1 2PU
United Kingdom

Registrar:
Mesh Digital Limited t/a Domainmonster.com [Tag = MONSTER]
URL: Domains - Domain Registration - .SX Domains - Domainmonster.com (http://www.domainmonster.com)

Relevant dates:
Registered on: 28-Apr-2011
Expiry date: 28-Apr-2013
Last updated: 20-Jan-2012


And if you look at Contact Us | Order Takeaway Food Online at Eat It Now | Eat It Now Group Ltd (http://www.eatitnow.co.uk/ContactUs) (A takeaway food company)

To contact customer services telephone 0845 4596206 between 9:00am and 10:00pm Monday to Thursday and 9:00am to 8:00pm Friday or email customerservices@eatitnow.co.uk

Company: Eat It Now Group Ltd

Address: 1 Mount Pleasant
Douglas
Isle of Man
IM1 2PU

Telephone: 0845 4596206

northernladuk
18th December 2012, 12:23
If you want to go with a finance company that has grown out of a takeaway company then fill yer boots... literally... :D

Wonder if we can do a location check on the posters IP address?

LisaContractorUmbrella
18th December 2012, 13:01
If you want to go with a finance company that has grown out of a takeaway company then fill yer boots... literally... :D

Wonder if we can do a location check on the posters IP address?

Good grief - you couldn't make it up could you :frown

cojak
18th December 2012, 13:16
:rollin:

BA to the Stars
18th December 2012, 16:03
If you want to go with a finance company that has grown out of a takeaway company then fill yer boots... literally... :D



Yup, have yourself a pizza the action but don't expect it to curry any favours with HMRC.

:igmc:

Wanderer
18th December 2012, 20:08
If the red flags don't put you off...

Lisa, this isn't one of your sockies posting up questions about these schemes so we can rip them to shreds is it? :laugh :tongue

LisaContractorUmbrella
19th December 2012, 08:20
Lisa, this isn't one of your sockies posting up questions about these schemes so we can rip them to shreds is it? :laugh :tongue

No, I'm not that creative :emb

bestnetpayfriend
18th January 2013, 15:59
I was offered a contractor job. Aware that Limited company or umbrella are the best options for an efficient take home, however betterpay.co.uk has offered guaranteed 85% take home.

Just wanted to check if any of you has used betterpay.co.uk services? If so can any one tell me what route they take to pay 85% take home monthly.

Any help you can provide will be graciously received.

I think you may find that there are several companies in the UK that route their Umbrella services through the Isle of Man. What happens next is you will find that the Isle of Man companies some of whom are not only situated in old pizza houses but also down in Athol Street (the only street shady on both sides) provide you with your salary based on the minimum wage and the remaining balance is paid to you via a loan that they take out for you based in the Cayman Islands.. K2 springs to mind !!

Now how do I know this.. a contractor who is also an old friend making a very tidy daily rate decided to take this route recently because he got greedy. No matter how I tried to persuade him not to do this he decided to because he is also offshore and thinks HMRC will not investigate him. How incredibly stupid of him to do this, and actually of the people selling these products. This is not good at all.

Another point here is - I am saddened by the threads on the Isle of Man, many of you will only read what you want to read. I actually was born and brought up on the Isle of Man I love it and going home to visit friends is going back home. The people that have set up these schemes have brought the Island down and I am sadened by the Manx Government for allowing it to happen. There are however many excellent finance companies who have a fantastic breadth of knowledge on offshore taxation should anyone like a recommendation I would be more than happy to support you.

Carol from Maple Accountants x

LisaContractorUmbrella
18th January 2013, 16:29
When you say 'excellent finance companies etc. etc.' presumably you are referring to companies that offer financial advice to those who are resident in and working within the tax jurisdiction rather than individuals working and living in the UK?

bestnetpayfriend
18th January 2013, 17:19
When you say 'excellent finance companies etc. etc.' presumably you are referring to companies that offer financial advice to those who are resident in and working within the tax jurisdiction rather than individuals working and living in the UK?

Lisa, what is your point exactly !! or do you just wish to comment on the state of pizza's

Zippy
18th January 2013, 21:15
I liked jalapenos on my pizza, so tended to order extra if having a takeaway pizza. Imagine my disappointment if (not only) did I not get the jalapenos I'd ordered or even the pizza I'd orcered. but then the pizza house owner wanted my house.
I don't like pizza any more. Give me a nice kebab any day.

I'm prepared to take my spanking ...

bestnetpayfriend
18th January 2013, 22:40
Mod note: insulting post removed.

northernladuk
20th January 2013, 13:31
Lisa, what is your point exactly !! or do you just wish to comment on the state of pizza's

Seems a pretty clear point to me....... and I am simple minded Yorkshire idiot. I do see what you are saying about some of the companies being reputable but when there is a tidy loophole it will be abused by less reputable people bringing the rep of everyone down. Look at some of the morons that post on here pretending to be contractors to running reputable small businesses... like the guy in the professional forums at the moment that closed his business and cant understand why he can't get his money out f the bank now. :eyes

LisaContractorUmbrella
21st January 2013, 13:29
Seems a pretty clear point to me....... and I am simple minded Yorkshire idiot. I do see what you are saying about some of the companies being reputable but when there is a tidy loophole it will be abused by less reputable people bringing the rep of everyone down. Look at some of the morons that post on here pretending to be contractors to running reputable small businesses... like the guy in the professional forums at the moment that closed his business and cant understand why he can't get his money out f the bank now. :eyes

WNLUKS

LisaContractorUmbrella
21st January 2013, 13:30
Lisa, what is your point exactly !! or do you just wish to comment on the state of pizza's

Not sure how to make it any clearer sorry

BrilloPad
21st January 2013, 13:37
Another point here is - I am saddened by the threads on the Isle of Man, many of you will only read what you want to read.
Carol from Maple Accountants x

Try telling those facing bankruptcy due to section 58.