Testimonials
You offer an excellent service, always prompt in replies and processing invoices etc. I have been delighted to be an employee...you have made a significant difference to my income through your various services.”
R S, Felixstowe, Suffolk
I am particularly pleased with: the ease of doing reclaimed expenses, the punctuality with which you pay, the speed in which you all reply to email and the dedication above and beyond the call of duty. Thanks very much for a most excellent service.”
MT, Broadstairs, Kent
Service is professional, prompt, courteous, discreet (if need be) and informative at all times. Queries are always dealt with very quickly and responses/advice are always sensible with suggestions to point us in the right direction. Payments are always on time. All-in-all, you have one very satisfied customer.”
AC, Canterbury, Kent
Consultants Benefits
As a consultant with ITCF, you would receive a salary related to market rates. A discretionary trust is provided from which you are able to receive interest-free loans. The taxation of interest-free loans is in line with current legislation and the relevant guidelines set down by HMRC. You do not need your own limited company or to be a VAT registered company, therefore associated costs are eliminated. The benefits are summarised below:
- You would no longer require the services of an accountant to run your own personal service company
- There are no IR 35 issues - the facility does not depend on claiming expenses which may be challenged
- The facility does not constitute a reportable tax scheme
- The facility does not constitute a ‘composite’ company arrangement whereby monies are paid by way of salary and dividend
- Issues resulting from the “Dextra” case have been dealt with
- Employees Liability, Public Liability and Professional Indemnity Insurance are included
- The completion of your personal tax return for each fiscal year may be organised and should include any other income that you have or capital gains that you have made
How It Works
As a consultant you would become an employee of Keypay Solutions Ltd. Keypay would hire your services to us, we in turn would provide services to employment agencies or the end users of your skills and expertise, under a service agreement with Keypay.
Keypay Solutions
As a Keypay employee you would receive a monthly salary related to current market rates and subject to PAYE and NIC 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 HMRC guidelines.