Unfairpak Forum - How Farepak Stole Christmas

On Friday 13th Oct 2006 - Farepak Hampers went into administration. Over 100,000 customers were told that no food hampers or vouchers or other goods will be supplied this Christmas as promised, and no refunds! Share your thoughts here...
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PostPosted: Mon Jan 15, 2007 3:40 pm 
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sue7 wrote:
Well i hope they dont get one bloody cent :steam:


I hope they have to pay US :steam:

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PostPosted: Tue Jan 16, 2007 12:46 am 
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Ann wrote:

Hi Guys
Wasn't around at the weekend so didn't log on. Could have saved you a lot of time - sorry about that.

Storm Financial is Sir Clive's own company. He is a non-executive director of a number of companies. This is a simple way of handling his tax affairs. If he was paid directly by each company then he would be on several payrolls and it would all get a bit complicated for him and for the tax office. By wrapping up all his earnings in one company then it simplifies the tax and does also give him some tax advantages.

If Storm are owed money then so, effectively is Sir Clive.

Cheers
Zoe


In the modern IT world this would be a bit complex but fairly simple to set up if thought through.

Tax is per year so add up all and work out - one directorship would have tax free one would be a 10, 22 then the rest at 40

NI is per week, allocate bill on contact hours per week.

Directors earning tens of 000 per year from multi companies where they are paid for an entire year's work i.e. working 3 hrs a week here, 3 there, 5 there etc, can use the tax system to pay less tax compared to a employee.

They're taking advantage of a loophole meant for people who work two weeks for a company then, have to wait 3 weeks for next contract that lasts 14 weeks then wait for 5 weeks etc.

Oh IR35 says if you get a 52 week contact (yes a nice long contract) you'll be treated as if employed by Inland rev, but you will NOT get the same benefits
training/unfair dismissal/sick/insurance etc
So you get !

I'm probaby correct that the directors companies:

will get paid at unsecured rate 4p in £

could be liable (insurance?) for any bad actions taken by them


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PostPosted: Sun Jun 17, 2012 7:31 pm 
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just rummaging, trying to see who was there from ehr at creditors meeting.

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