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I'm a little concerned to see company registration services demonized. I used one for my own company. Like a domain registration they also usually provide anon
by shubb 11y ago
I'm a little concerned to see company registration services demonized. I used one for my own company.
Like a domain registration they also usually provide anonymity by declaring themselves as your office address. That's legitimate too as many contractors don't have an office and don't want thier home address published publicly on the uk companies register. That isn't a fraud.
The BBC makes much of the weird ownership structure, but it is not that crazy. The structure described, 2 companies that basically represent people owning a company that basically does work is a tax efficiency. If the co owners own it directly and take thier money as pay not dividend, they pay more tax. If they take it as dividend not pay, it is split by ownership not hours worked. Better for both directors to be companies that charge the main company per hour for work done and then extract the dividend from those personal company seperately. I wouldn't do it as it has some problems like disguised employment but if compliant it is a tax efficiency not an evasion, and not a criminal activity.
I dunno, it's like saying a secure document destruction company is suspicious. It's just a company that provides a service that most users need to do normal productive business.
- cpncrunch 11y agoI think you've misunderstood. An IT contractor is generally the director of their company, and there aren't generally any nominee directors. In this case the two people providing the company registration services are actually nominee directors of the company (the same company that received the billion dollar stolen wire transfer!)