Hey guys
I’m new to the forum, and I work as a locum doctor. I was encouraged by my locum agency to use “Elite Contractor Care”
I asked how it worked and got this in an email:
“was a pleasure speaking to you earlier after being referred by your agency consultant. As requested please find below details of your bespoke tax planning arrangement that can enable you to retain 84-85% of your income with all fees included while remaining fully compliant.
If you have any further questions please send them via email or call me on the number below.
We can supply an outsourced employed PAYE structure, which is a streamlined process where you would become an employee of trading company ‘Elite Management & Consultancy’. You will be provided with Professional Indemnity Insurance and Employers/Public Liability Insurance. You would be remunerated as follows:
Elite invoices your agency
Pay you a salary of £250/week for Consultancy services. Full tax & N.I is paid on this amount.
Any remaining funds minus expenses/fees are paid to yourself as a Capital Investment Payment which is not subject to Tax/N.I and is fully compliant.
Using figures based on an hourly rate of £70/hour (50 hours/week), you would retain 84.69% after all tax/NI and structuring fees (Circa £2,964 of the £3,500/week).
This would be paid to you on the same day that your agency sends payment. Please also consider that the salary part can be adjusted to any amount you feel comfortable with. The retention percentage reduces slightly with an increased salary, however when setting up the structure we can provide specific figures.“
Can anyone tell me if this is legit/legal? It sounds similar to the loan schemes...
Thanks in advance ...
Hus
I’m new to the forum, and I work as a locum doctor. I was encouraged by my locum agency to use “Elite Contractor Care”
I asked how it worked and got this in an email:
“was a pleasure speaking to you earlier after being referred by your agency consultant. As requested please find below details of your bespoke tax planning arrangement that can enable you to retain 84-85% of your income with all fees included while remaining fully compliant.
If you have any further questions please send them via email or call me on the number below.
We can supply an outsourced employed PAYE structure, which is a streamlined process where you would become an employee of trading company ‘Elite Management & Consultancy’. You will be provided with Professional Indemnity Insurance and Employers/Public Liability Insurance. You would be remunerated as follows:
Elite invoices your agency
Pay you a salary of £250/week for Consultancy services. Full tax & N.I is paid on this amount.
Any remaining funds minus expenses/fees are paid to yourself as a Capital Investment Payment which is not subject to Tax/N.I and is fully compliant.
Using figures based on an hourly rate of £70/hour (50 hours/week), you would retain 84.69% after all tax/NI and structuring fees (Circa £2,964 of the £3,500/week).
This would be paid to you on the same day that your agency sends payment. Please also consider that the salary part can be adjusted to any amount you feel comfortable with. The retention percentage reduces slightly with an increased salary, however when setting up the structure we can provide specific figures.“
Can anyone tell me if this is legit/legal? It sounds similar to the loan schemes...
Thanks in advance ...
Hus
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