Hi, if anyone can help with advice as to my current situation which I am not sure how to move on with. I am a locum worker, current assignment within the public sector. My recruitment agency refuses to release my salary to my chosen umbrella company as the agency feels the umbrella company is not compliant (previously they were releasing funds to them). The agency have given a list of umbrellas to which they say I can choose from, all of which offer a lower take home pay than my current umbrella company. What rights have i to demand payment to my current umbrella company and (b) am i better off setting up a Ltd Co instead? Any advice appreciated pls.
Hi, just need some advice as to what I hear are called 'tax efficient' umbrella companies (also known as alternative umbrella companies) as opposed to standard umbrella companies. As a locum worker I am currently using a standard umbrella company but having secured a new assignment my agency has given me a name of a 'tax-efficient' umbrella company.
I have spoke to the umbrella company directly and they state they are based in the UK therefore not off-shore. They are able to provide me with a net weekly pay significantly higher than a standard umbrella company. They say they do this via applying slightly differing rules than a standard umbrella company which they say are totally compliant with HMRC guidelines/UK laws. Seems almost too good to be true though I am tempted to go with them given the increase in my net pay compared to a standard umbrella. Anyone know whether these tax efficient/alternative companies are legitimate - I don't want to register with them only to find out the HMRC regards going with them as tax avoidance and asking for me to pay back monies I saved via going through them.
I am a locum worker working under a limited company status. HMRC investigated and ruled that I am working within IR35. I have a tax accountant that fought the case but given the case the HMRC had my accountant suggested that I accept their decision. I therefore have had a whopping tax bill/penalty to be paid back to HMRC. Going to get advice from my accountant as to what my options are..if any. I can't pay that kind of money back as my company or I haven't got it. Any help or advice please. Also noted that the HMRC say the monies can have interest added to it! - not good.
Any advice as this would be much appreciated. thanks
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