Umbrella and composite company database: an update

UKTECH has established a central database of companies offering umbrella or composite companies or any form of IR35 solution.

UKTECH drafted a questionnaire covering basic issues such as:

• how the company operates (whether it is an umbrella or composite, etc.)?
  
• how long it's been operating?
  
• who the directors are and their qualifications?
  
• what types of benefits were offered to employees?
  
• whether an EBT was offered?
  
• whether any independent professional opinions were available to support the arrangements?

Details of every contact and the responses are being placed in the 'umbrella companies and composites' section for members, so freelancers can see what has been discussed.

UKTECH will continue to put all details in this area so readers can access the information companies supply and draw their own conclusions.

As at today's date, UKTECH has sent the questionnaire to ten companies that were brought to our attention by readers. Three companies: Brooksons; ICENI; and Parasol IT, have returned completed questionnaires – each of which contains valuable background information on the company and will help readers form views about their operation.

One company has supplied some answers but has decided not to answer the questionnaire in full and another has refused to co-operate at all. The remainder have not yet replied.

UKTECH will be sending these companies an updated questionnaire, which asks about the impact of the Employee Benefit Trust changes introduced in the Chancellor's Pre Budget Report on 27 November 2002.

As more companies decide to contribute UKTECH hopes those who are reluctant to reply will see the advantages of providing clarification.

For freelancers who want a better understanding of the options available to them when contracting and guidance as to the issues involved with the use of EBTs and IR35 schemes, including the implications of the Chancellor's changes to the tax treatment of EBTs, UKTECH has produced the 'Freelancer's Guide to Business Setup, Options & Risk' – which is available from the link below for £30, including postage and packing.

Order or read more here: Freelancer's Guide to Business Setup, Options & Risk.

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KevinM