* Posts by Pin1OnU

3 publicly visible posts • joined 4 Aug 2020

Win a slice of XP cheese if you tell us where Microsoft should put Copilot next

Pin1OnU

Shove it in the cloud....thats the solution for most things these days according to Management. But failing that they can stick it in the Whitehouse

Architect of tech contractor tax fraud scheme jailed for at least five years

Pin1OnU

This appears to be an umbrella company. They are well known in the UK dating back to the introduction of the poxy IR35 legislation introduced by Tony Blah's government. One of the attractions has been minimal paperwork involved. This is a perfectly legitimate way to operate and can take the hassle out of running a company out of a contractors hands. You also don't have to set up a company.

What should have rung alarm bells was the fact it was free. Did they advertise how they made their money? Most umbrellas take a fee for the services provided.

BTW Fraud like this can happen to permanent employees. An employer deducts tax but doesn't transfer it to Inland Revenue. The employee is left owing thousands to the taxman.

Pin1OnU

Well that might work for you. However, anyone who has contracted in the UK will know about umbrella companies. Mostly they offer services that mean you aren't saddled with all the expense and paperwork concerned with running a small limited company, e.g. Payroll, Income Tax, Corporation Tax etc for a small fee. They became especially popular after the Blah government introduced the IR35 legislation.

Many people operate successfully under them.