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97% salary retention with umbrella company

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    97% salary retention with umbrella company

    Hello,

    Just had a call from an umbrella company telling me they are able to give 97% salary retention with their scheme. And they say it's perfectly legal, which is using the same principle of offshore payment as Google and Facebook are using.

    It's absolutely safe and legal.... This is not tax avoidance!


    However I told them I wasn't interested because I'm already being chased by HMRC for Felicitas from 5 years ago.....


    I'm still surprised to receive such a call nowadays... Is it a plot from HMRC in order to get more money from contractors?

    #2
    Name and shame the company. It's no warning to others if you don't tell us who called.

    While naive people continue to exist, there will always be a way to exploit them. HMRC won't take on umbrella regulation to ensure they are compliant so the door is wide open for schemes to continue to exist.

    Comment


      #3
      I'm speaking with an agency at the moment who is being bombarded by a broker who is pushing the same they don't get to know who the brolly is at that point either
      Conversations with BEIS says the regulation is coming... just got to see when and hope it isn't too late for those tempted when IR35 kicks in!

      Comment


        #4
        People will still sign up in droves


        Sent from my iPhone using Contractor UK Forum

        Comment


          #5
          Originally posted by ladymuck View Post
          Name and shame the company. It's no warning to others if you don't tell us who called.

          While naive people continue to exist, there will always be a way to exploit them. HMRC won't take on umbrella regulation to ensure they are compliant so the door is wide open for schemes to continue to exist.
          I couldn't hear properly the name of the company, but the phone number is +44 1923 882548. I tried a google lookup and it shown the company might be NEUTRAL FINANCIAL SERVICES? Couldn't find their website.

          Comment


            #6
            Originally posted by GhostofTarbera View Post
            People will still sign up in droves


            Sent from my iPhone using Contractor UK Forum
            For they know no better and it still isn't obvious why it's a bad idea.

            Hopefully that will be fixed soon and there will be an easy means of identifying whether an umbrella is dodgy or not

            At which point anyone greedy and stupid enough to join such a scheme won't have my sympathy.
            Last edited by eek; 6 October 2020, 10:01.
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by cwah View Post
              I couldn't hear properly the name of the company, but the phone number is +44 1923 882548. I tried a google lookup and it shown the company might be NEUTRAL FINANCIAL SERVICES? Couldn't find their website.

              The word "Neutral", you've got that from a phone number lookup that is telling you whether it is harassing, spam, neutral or safe, not that the company is called "Neutral"
              …Maybe we ain’t that young anymore

              Comment


                #8
                Tax Club are still claiming 90%, and still using logos for NHS, Sky etc.
                …Maybe we ain’t that young anymore

                Comment


                  #9
                  Originally posted by WTFH View Post
                  Tax Club are still claiming 90%, and still using logos for NHS, Sky etc.
                  I'm more scared and concerned about the ones that offer 60-70% personally..
                  merely at clientco for the entertainment

                  Comment


                    #10
                    Originally posted by WTFH View Post
                    The word "Neutral", you've got that from a phone number lookup that is telling you whether it is harassing, spam, neutral or safe, not that the company is called "Neutral"
                    And that the type of company is 'Financial Services'

                    Gave it a call, redirects to an international number judging by the type of ringing. No answer sadly.

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