Date: 20 Aug 2008    GMT: 14:34

How does TekPay Work?

TekPay 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 our participants may be provided with tax efficient payments.  As a consultant, you become an employee of TekPay (UK) Limited.  We then hire your services to an independent UK company, such as Computer Contracts 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 Tekpay (UK) Limited.

As a TekPay employee you receive a monthly salary related to market rates and 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 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 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 Next Step

We are confident that TekPay can deliver the tax efficient employment facility you need and would encourage you to contact us.

You'll want to get to know us. We need to get to know you.
Contact Jane Taylor or Jo Sangan on:

Tel No. 0870 351 5884
Fax No. 0870 351 5885

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