Aston Mae

[Deepcut]

Hi fellow contractors,

After 10 years as a PM I decided to accept redundancy and try contracting. I'm at the point where I am investigating whether to go down the umbrella or Ltd company route, when an acquaintance recommend the Aston Mae tax consultancy.

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They have a Consultant LLP Structure scheme which based on my limited understanding is similar to a Ltd Company however according to them quote "is tax neutral and transparent structure, where member partners are taxed at a partner level but the LLP itself pays no tax. Therefore they pay no Corporation Tax so individuals save 21/22% on profits, hence the improved returns"

They go on to guarantee an 84% return and 16m insurance in case of investigation or fines by the tax authorities.

It all seems to good to be true which is why I am here asking my fellow contractors the follow questions

1. Any experience dealing with Aston Mae
2. Anyone using a similar financial vehicle do they pose any issues are they legit ?

Many Thanks

Deepcut

[cojak]

You'll find all the other fish who were promised the same thing in this pond: HMRC Scheme Enquiries

[eek]

You'll find all the other fish who were promised the same thing in this pond: HMRC Scheme Enquiries

+1 if you want to go ahead. But will they or the insurance be around when HMRC decide to have a detailed look 3-5 years hence.

[vadhert]

barge and pole

[Deepcut]

Reading you loud and clear, the lord gave man intuition for a reason

Appreciate the confirmation.

[Deepcut]

Can anyone recommend a reputable Umbrella company for this fish ?

(hope this request is not braking any thread rules)

[Mephisto]

Hmmm I schmell schpam

[LisaContractorUmbrella]

I think you'll find that HMR&C are on to this Government sets out detail of changes to taxation of limited liability partnerships

With regard to a good umbrella company - just remember all work in the same way and you won't get any more money working through one than another

[dmini]

For a good umbrella, above board, will keep you on straight and narrow, I recommend ContractorUmbrella, as in Lisa (see post above).
During the time I was with them, they were always very helpful, and answered queries properly unlike other ones I dealt with who were real nightmares. You know its bad, when you are threatening legal action, or emailing the chief executive direct to sort out the mess his staff are making. Two other brollies I dealt with - Lisa and co were fantastic.

[bobspud]

Hi,
One thing that you really need to take into account if you use an umbrella company: The extra tax that you will end up paying in NICs and PAYE taxes would have been your war chest.