FAQ Contractor / Consultant / Company Director tax planning

• How do I join?
  The process is very simple. You register online via a web portal.
  
  
• How often will I be paid?
  Monthly.
  
  
• Can anyone join this plan?
  Any consultant, contractor, company director or employee with the ability to out-source his or her services.
  
  
• How long has the recommended plan been running?
  5-6 years.
  
  
• Can I join in the middle of a contract?
  You can join at any time throughout an existing contract, or if preferred when you start a new contract. We will liaise with your agency or end client to ensure a seamless transition either way.
  
  
• Will I be employed?
  Yes, you will be a full-time employee.
  
  
• What employment rights do I have?
  You will have full UK employment rights.
  
  
• Will I need my own company?
  No, it is not necessary for you to have your own company, Limited, Partnership, Sole Trader or otherwise.
  
  
• Will I be VAT registered ?
  No. As you are not trading with your own company VAT registration is not required.
  
  
• How long does it take to join?
  We can help you register in 5 minutes. We simply then liaise with your Agency or End Client to ensure all necessary paperwork is in place.
  
  
• Do I pay a joining or exit fee?
  There is no joining or exit fee.
  
  
• Is there any danger from the Budget 2008 or Draft Finance Bill 2008 proposals?
  No, there is no threat from the recent budget of Draft Finance Bill 2008.
  
  
• What happens at the end of the tax year?
  You will be issued with a P11D and P60. Should you be required to complete a self-assessment tax return our consultants are here to help should you have any queries. You do not have to complete any company accounts.
  
  
• Does IR35 apply?
  No. You are a full time employee of a UK Company.
  
  
• Does this planning involve EBT (Employee Benefit Trusts)?
  No. We would strongly advise against using a tax plan that utilises an EBT.
  
  
• Does this planning utilise a Double Taxation Treaty?
  No. Due to the recent 2008 Budget we would strongly advise against using a tax plan that utilises a Double Taxation Treaty. For further information see budget notes BN66 under the HMR&C government web site.
  
  
• How do I send my timesheets to you?
  Your timesheet information is entered via an online web portal. The process of timesheets, contracts and invoicing is fully automated.
  
  
• What insurances does the recommended company provide?
  The company is fully UK compliant with all required UK insurance. Should you require proof of these insurances we would be happy to furnish you with them prior to any engagement.
  
  
• What type of companies do you recommend?
  We only recommend companies that have been researched thoroughly and provide the safest and most cost effective solutions to our clients.
  
  
• Do you provide a pension vehicle?
  Yes. Through our network of recommended IFA’s we can provide you with a bespoke pension vehicle to suit your individual requirements.
  
  
• Do I pay benefit in kind tax?
  No. There is no benefit in kind to be paid.
  
  
• Does this planning have to be reported to the HMR&C
  No. This is not a tax avoidance plan.
  
  
• Has this plan had any investigation from the HMR&C
  No