How it works
It 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 participants may be provided with tax efficient payments. As a consultant, you become an employee of Keypay Solutions Limited. We then hire your services to an independent UK company, such as IT-Contracts Finance Limited, (based in Egham, Surrey), which, in turn, provides your services to employment agencies or the end users of your skills and expertise, under a service agreement with us.
As a Keypay employee you would receive a monthly salary related to market rates, subject to PAYE and National Insurance deductions.
The income arising from the services that you provide is reviewed on a monthly basis with the aim of identifying the appropriate allocations that may be paid into a discretionary trust. The trustees may then, at their discretion, advance you amounts in the form of interest free loans on a monthly basis.
The tax treatment of these interest-free loans is very efficient and compliant with HM Revenue & Customs guidelines. You would no longer need your own limited company or be VAT registered – therefore associated costs are eliminated. You would also no longer need the services of an accountant.
The trustees of the discretionary trust are St Peters Trust Company Ltd, a long established trust and company service provider in Guernsey. St Peters Trust is managed by qualified accountants and licensed by the Guernsey Financial Services Commission. Guernsey has one of the highest levels of financial regulation in the world – higher in certain areas than in the UK.
The Next Step
We are confident that we can deliver the tax efficient employment facility you need and would encourage you to contact.
You'll want to get to know us. We need to get to know you.
Contact Jane Taylor or Jo Sangan on:
Tel No. 01481 715048
Fax No. 01481 739830
E-mail. info@keypay.com