Participay operates through a complex, yet legally sound and structurally robust system of mitigating the tax burden on amounts that you receive, based upon current legislation.
An independent discretionary trust has been set up as a vehicle through which you may be provided with tax efficient payments. You become an employee of Participay Limited. We then hire your services to an independent UK company, such as Computer Contracts Limited, which in turn, provides your services to employment agencies or the end users of your skills and expertise, under a service agreement with Participay Limited.
As a Participay employee you receive a monthly market rate salary that is subject to PAYE and National Insurance deductions.
The amounts arising from the services that you provide are reviewed on a monthly basis with the aim of identifying the appropriate allocations that may be paid into the discretionary trust. The trustees may then, at their discretion, advance amounts in the form of interest free loans on a monthly basis.
The tax treatment of these interest-free loans is very efficient and complies with HM Revenue & Customs guidelines. You would no longer need your own limited company or be VAT registered, you would also no longer need the services of an accountant – therefore associated costs are eliminated.
We are confident that Participay can deliver the tax efficient employment facility you need, so what are you waiting for? Contact us today!
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