Talent Resource Management

[NotAllThere]

Boss Original could very easily be a director of TRM. Be wary of any advice or recommendations from someone with no posting history.

[boss original]

Boss Original could very easily be a director of TRM. Be wary of any advice or recommendations from someone with no posting history.

I have no posting history....because I am new to this forum .....everyone is new at some point you know.

And I haven't recommended anything, I was (just like everyone else) sharing my experiences...it's an open forum!

Do you even get paid through TRM??? I do so I am entitled to my opinion on what they are doing.

[zohan]

TRM and Redding

I am new to this group.

I have also received a letter from Redding requesting to sign a new loan agreement. I tried sending an email to TRM to check on this new agreement and I have not received any reply yet.

Yesterday, I called my Payroll Coordinator in TRM and did not get a proper response. My Payroll Coordinator said that she does not know anything about the loan agreement terms and she will not be able answer and questions in this regard.

I also checked with her if there is any change in the payment processing and she conveyd that she had not received any information on that and the rules for processing the salary and loans are un-changed.

I am totally confused. I have the following questions and would appreciate any suggestions

1. Should existing contractors with TRM termainate their contract and find an alternate solution?
2. Should we just ignore this letter from Redding and continue to use TRM?
3. If we continue to use TRM and by not signing the agreement of Redding, will TRM holding any of our payments?
4. If PAYE solutions are becoming risky and HMRC is investgating , Is opening a Ltd company the only viable option for all contractors?
5. Should we raise any more Invoices using TRM?

I hope many of us would be in the same situation. What are your suggestions?

[mukeshjain100]

From another victim of Talent Resource Mgt

Hi All

Story is same as others...have had 2 letters from Redding finance Ltd asking me to sign loan agreement...
have denied from signing any such letter and also emailed them...

got a reply back from them stating "this is only restructuring and specifically saying that it is not a demand for repayment"

am convinced there is something real malicious in the intent of this company and we MUST take ACTION SOON!!!!

Jon C - please can you add me to your group for any further action

Mukesh Jain

[Lon_CTR]

The plot seems to be thickening

I am not conviced with Boss_Original and Eyetye - a little too eager and supportive for TRM, hmmm...

The biggest issue is a lack of clear communication by TRM/Batchworth/Image Marketing etc. Fine, I appreciate that this could be a malicious plot by them but to be honest I signed up knowing it was a loan but foolishly didn't ask all the questions up front.

A bit of a rock and hard place scenario, whereby if its not a loan you are in the line of fire with HRMC and if it is, you can potentially be shafted by the 'lender'.

Furthermore, if you terminate your contract with them, what happens next? Do you write off and therefore are subject to pay tax. Does it remain active and therefore could it sting you in years to come?

Questions we should have asked before signing up.

Most people here have a lot of questions with no answers. I find it strange us all being professionals and seemingly 'intelligent' would endeavour such a big risk without knowing what were getting into. TRM have a extremely poor service! The fact that so many clients dont know where they stand and are this confused about their pay is ludicrous.

Not a service that we should be using, legit or otherwise.

But enough of that, we are were we are - its important that we get ourselves out of this hole - Jon C can you please sign me up.

[NotAllThere]

I have no posting history....because I am new to this forum .....everyone is new at some point you know.

What, really? You don't say.

And I haven't recommended anything, I was (just like everyone else) sharing my experiences...it's an open forum!

You have promoted a viewpoint that a operators of TLM would certainly like promoting. It's also a viewpoint that seems rather in the minority on this forum. If everyone did what you suggest, I'm sure TLM would be very happy.

Do you even get paid through TRM???

What's that got to do with anything? As you say, this is a public forum.

I do so I am entitled to my opinion on what they are doing.

Of course you are. Don't fret yourself.

Now, I did say could be a director. I didn't say that you are. The point is that newbies, such as yourself, might be unaware that some disreputable companies have used such tactics from time to time. And that not everyone represents themselves absolutely honestly. Don't take it personally.

Hey, perhaps mukeshjain100 is actually the MD of a rival scheme. Or Zohan is actually Dawn Primarolo

[malvolio]

Or Zohan is actually Dawn Primarolo

No chance. Zohan shows signs of intelligence and is asking questions...

[boss original]

Hey, perhaps mukeshjain100 is actually the MD of a rival scheme. Or Zohan is actually Dawn Primarolo [/QUOTE]

lol...

[dezze]

I think some of the points re:insisting the payments are NOT loans are extremely important...if TRM and Redding are saying they are not going to ask for repayment, do you want to put your trust in HMRC instead? They will pounce on this and give everyone a good rodgering, including penalties (you are saying you had income but didn't declare it - bordering on evasion rather than avoidance?)
I've never been with TRM, but the whole concept of these schemes is that someone holds a loan in your name. TRM could have called on this loan at any point but don't...moving the loan to another company is hopefully ensuring that this continues.

P.S. I have no connection to TRM or Redding (or HMRC!).

[architect]

What if they call-in these loans?

The main point I want to make here is where do we legally stand if TRM or Redding call-in these loans at some point of time in future by asking us to pay it back. The amount would be so big (principal + compounded annual interest 1% above base rate) that I doubt if anybody can really afford it.

Can we at that time legally prove that it was not really a loan or is forgiven/written of? How we can legally push off TRM/Redding guys (or adminstrators if they wind up us a company) if they come knocking on our doors in future demanding their loan payback?

It would be better to pay HMRC their due taxes than living with a sword continuously hanging on our heads. Simply, HMRC will take only a percentage of those earnings whereas TRM/Redding may take 100% + compounded interest from us in future.