Hello all
I've been advised by a friend of mine who is using a company called <mod snip> to use them instead of using my Limited company.
I am an IT contractor in the city.
I have been told that the company invoice the company I work for for the full amount of days worked, when they are paid, I am paid the same day.
my payment is around 85% of the gross payment from the company. This 85% is made up of the minimum salary, plus a loan.
The Loans beneficitary however would be myself wrapped up in a Personal Pension.
I am still awaiting for further information, but not being fully tax profeccient or expericaned on this, I would ask for any thoughts and advice.
I am guessing this is too good to be true, but wanted to check.
Thanks
I've been advised by a friend of mine who is using a company called <mod snip> to use them instead of using my Limited company.
I am an IT contractor in the city.
I have been told that the company invoice the company I work for for the full amount of days worked, when they are paid, I am paid the same day.
my payment is around 85% of the gross payment from the company. This 85% is made up of the minimum salary, plus a loan.
The Loans beneficitary however would be myself wrapped up in a Personal Pension.
I am still awaiting for further information, but not being fully tax profeccient or expericaned on this, I would ask for any thoughts and advice.
I am guessing this is too good to be true, but wanted to check.
Thanks
Comment