Take home 80% of the value of your contract

**Old Greg** · 4 May 2011, 14:38

Originally posted by taj_samra View Post

Just received this e-mail from ContractorUK. Anyone using them? Seems to good to be true.....

Choice Premier Umbrella Company Services for contractors and freelancers. Take home 80% of the value of your contract.

How can you take home 80% of your pay?Choice Premier - How it works Your questions answered.

Choice Premier - FAQ Why contractors choose Choice Premier.Choice Premier - Why Choose Us

Choice Premier 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.

You become self employed and work through Choice Premier Ltd. We then hire your services to employment agencies or the end users of your skills and expertise, under a service agreement with Choice Premier Limited. Working through Choice Premier Ltd you will receive a monthly market rate "salary equivalent" payment that will be subject to tax and NI 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 loaned to you, as an member. Choice Premier may then offer you a loan in a foreign currency.

The loans are made in a foreign currency that is likely to devalue compared to UK pounds, generating tax free foreign currency gains in UK pounds. The loans are issued with interest applicable as per HMRC official rate. 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.

And will they pay your tax bill when HMRC collar you? Thought not.

However my own scheme (see sig) will guarantee compliance and return 115% (>100% due to a complex, yet legally sound and structurally robust system of mitigating the VAT burden). PM me for details.

**Alan @ BroomeAffinity** · 4 May 2011, 15:17

SPAM.

Maybe not actually. Just looked at posting history. As someone who was burned by Sunday Solutions, why would you even consider a similar set-up?

Get a limited company - with a bit of tax planning you can get close to 80% without much trouble anyway.

**Old Greg** · 4 May 2011, 15:19

Originally posted by Just1morethen View Post

SPAM.

I resent that!

**Alan @ BroomeAffinity** · 4 May 2011, 15:26

Take home 80% of the value of your contract