Most Popular Articles
Here are our most popular articles on Offshore Umbrella Companies.
We have a whole load of informative articles on the website for contractors.
These are the pick of them.
Umbrella Company Bungs
Agencies are forcing contractors into Umbrella Companies by telling them they must use one of those on their preferred supplier list.
What they are not telling contractors is that they are getting a fee for each contractor they put their way.
This is illegal under the 2010 Bribery Act but it happens.
Make sure, therefore, that they don’t catch you out this way. Agencies are not allowed to induce you to join one umbrella or another.
Margaret Hodge, Labour MP
Margaret Hodge is a Labour Party MP. She is also the Chairman of the Public Accounts Committee in the House f Commons.
Furthermore, she has been the scourge of those big companies and individuals who avoid tax by legal means.
Now it turns out that she was benefitting financially from an offshore fund called Stemcor run by her brother.
Offshore Schemes Legal
According to one of the top bosses at HMRC, many offshore schemes are completely legal.
They do help people like contractors avoid tax but in ways that the Government meant to when setting up the legislation to give them tax breaks. They are incentives, therefore, to act in a particular way that benefits the Government, e.g. in backing new films.
How They Work
We give you an insight into how they work and whether they would work for you.
So, if you are thinking of setting one up this is a must read.
When the Government set up IR35 in 1999 it was to catch disguised employees. There were people who left a company on a Friday only to reappear on the Monday as a contractor.
They were doing the same job at the same desk for the same company.
There was a scandal in the newspapers and the Labour Government decided to act.
They described those people, therefore, as disguised employees.
However, in putting this in place the Government accidentally put in place a new phenomenon – the disguised contractor. He, or she used an umbrella company as an ’employee’.
So, they are our most popular articles. We hope they are of use to you.