Anyone heard of BestPay alternative to Ltd company

[ashenfie]

Hi,

This is a new one on me. Looks to me like they have a Ltd company setup. They Invoice for you. Once the agency pay them they pay you same day!

Sounds good on paper and you have no company setup/admin issues. They claim that you get upto 91% which sounds very good. Too good?

Can anyone shed any light on them and any pit falls?
Alex

[cojak]

http://forums.contractoruk.com/accou...n-schemes.html

http://forums.contractoruk.com/umbre...fraid-ask.html

http://forums.contractoruk.com/accou...as-victim.html

To all you guys thinking

They claim that you get upto 91% which sounds very good. Too good?

You've answered your own question.

Do a bit of your own research.

Look them up in Companies House - find out their address and the names of the directors and any sister companies.

Then google all that you find.

I'm sure it will all be very interesting (particularly any phoenix companies - they're always good for a giggle.).

Also google HMRC in relation to those phoenix companies.

You then won't probably need to ask us anymore - it'll then be up to your own 'risk assessment'/greed as to whether you wish to continue with them.

(This won't stop those 1 off posters who work for and promote these companies, but we can then associate their product with this advice, so it's not all bad news ).

[cojak]

PS. It's used to be '85% take-home' but that market's flooded so now these companies are creeping into the 90's (91% ). Just wait for cowboy competitors to advertise 92%, 93%, 9...

So how much of the 9% is their fee and how much do they give to HMRC? Because (and you'll probably be amazed to discover) they will have to throw something to them...

[LisaContractorUmbrella]

PS. It's used to be '85% take-home' but that market's flooded so now these companies are creeping into the 90's (91% ). Just wait for cowboy competitors to advertise 92%, 93%, 9...

So how much of the 9% is their fee and how much do they give to HMRC? Because (and you'll probably be amazed to discover) they will have to throw something to them...

They're already behind the times Cojak w ww.susuk.co.uk/self-employed. Take home 95% with 5% fees......so HMR&C get

[eek]

They're already behind the times Cojak w ww.susuk.co.uk/self-employed. Take home 95% with 5% fees......so HMR&C get

That is definitely

Although I love the bit at the bottom

Your responsibilities:

You have to register with HMRC as self employed
Complete personal tax returns each year where you declare your income
You are responsible for your own taxation affairs and ensuring that you pay the correct level of personal tax according to your circumstances

so what exactly do they do for that 5%?

[Notascooby]

That is definitely

Although I love the bit at the bottom



so what exactly do they do for that 5%?

They also say divs are after profit etc, so I just think its a bit tulip really.

[LisaContractorUmbrella]

That is definitely

Although I love the bit at the bottom



so what exactly do they do for that 5%?

Well whatever it is I don't reckon it's worth 5%

[Vallah]

http://forums.contractoruk.com/accou...n-schemes.html


Do a bit of your own research.

Look them up in Companies House - find out their address and the names of the directors and any sister companies.

Then google all that you find.

I'm sure it will all be very interesting (particularly any phoenix companies - they're always good for a giggle.).

Ever tried doing that for Contractor UK as a matter of interest?

[LisaContractorUmbrella]

Ever tried doing that for Contractor UK as a matter of interest?

Blimey Vallah - you're feeling brave this afternoon

[Project Monkey]

That is definitely

Although I love the bit at the bottom



so what exactly do they do for that 5%?

So its just an outsourced billing/accounts receivable function then?