Your views please on this umbrella

[ajk]

Hi I work as contractor working through one agency then through an umbrella called payco tech , I am currently getting paid as a ltd company although I have not set one up yet, I've came across a few people who have recommended this umbrella <mod snip: URL removed> they pay tax on min wage although your earning 20 to 30 and hour and loan you your wage so to speak.....I have found the forum to be a god send and know there's people in the know on here and I would just like your views

Thanks in advance

[stek]

Your views please on this umbrella

Hi I work as contractor working through one agency then through an umbrella called payco tech , I am currently getting paid as a ltd company although I have not set one up yet, I've came across a few people who have recommended this umbrella <mod snip> they pay tax on min wage although your earning 20 to 30 and hour and loan you your wage so to speak.....I have found the forum to be a god send and know there's people in the know on here and I would just like your views

Thanks in advance

Are you unable to read?

[ajk]

Yes I can read

[stek]

Based on the mess you are already in are you sure it's wise to consider going down some dodgy EBT route? Read the EBT thread.

Looked at that Payco site - not something I'd touch with a bargepole, self-employed?

[malvolio]

Yes I can read

Well it's a start. Apply that skill to this thread then. A good summary is in the final entry.

[ajk]

Thank you , looks like I will stay clear of them then and set up a ltd Company then , maybe I should search all posts before asking some questions

[ASB]

I am currently getting paid as a ltd co but havent set one up yet.

so your current brolly would appear to be false accounting and you arecomplicent.

Regularise that asap since if it comes to light the penalties could be severe.

[cojak]

Yes I can read

Good, then please do not put links or Urls for those types of umbrellas.

Thanks

[ajk]

Sorry

[craig1]

As you're new, and it's the New Year, I'll be a bit nicer and give you probably the most useful tip ever that some daft contractors still ignore:

IF IT SEEMS TOO GOOD TO BE TRUE, OR YOU'RE ASKING YOURSELF "What's the catch?", THEN IT PROBABLY IS AND YOU SHOULD AVOID IT UNLESS YOU'RE CONVINCED 100% BY A REPUTABLE INDEPENDENT PROFESSIONAL THAT IT'S LEGIT.

If you choose to ignore your gut instinct about something being too good to be true then most likely you'll get stung while the organisers walk away with a shrug to their next "QC approved scheme". That said, it's your money and your orifices when the tax men come round for a friendly chat.

A further guiding rule: IF YOU'RE DRAFTING A THREAD ON HERE ASKING WHETHER SOMETHING IS LEGALLY, ETHICALLY OR MORALLY WRONG OR IN SOME WAY SUSPECT THEN YOU CAN SAVE YOURSELF THE TIME BY THINKING ABOUT A PAGE FULL OF "yes" OR "Don't be so daft" REPLIES.