INTRODUCTION

WE OUTLINE REVELANT INFORMATION CONCERNING PARTICIPATION WITH OUR COMPANY WHEREBY YOU WILL REDUCE THE AMOUNT OF TAX THAT IS DEMANDED FROM YOU.

YOU WILL PAY LESS TAX BECAUSE YOUR INCOME IS DISTRIBUTED IN A MORE TAX FAVOURABLE WAY. SO THAT ONLY 40% IS SUBJECT TO TAXATION & WHEN THE BASIC TAX ALLOWANCE IS TAKEN INTO ACCOUNT THE REMAINDER IS TAXED @ THE 10% DIVIDEND RATE.

BECAUSE YOU TAKE UP EMPLOYMENT WITH AN OFFSHORE AMERICAN COMPANY YOU PAY NO SECONDARY NATIONAL INSURANCE BECAUSE THE OFFSHORE COMPANY DOES NOT HAVE A BUSINESS ADDRESS IN THE U.K BUT BECAUSE YOU DECLARE RECEIVING A BASIC U.K SALARY SUBJECT TO U.K TAX AND THE MINIMUM DECLARED NATIONAL INSURANCE CONTRIBUTION OF 0% WHICH IS IN FACT TREATED AS A PAYMENT, YOU ARE ENTITLED TO YOUR STATE PENSION CREDIT WHICH IS MONITORED BY A U.K COMPANY OF WHICH YOU WILL HAVE NEWLY INCORPORATED TO ACT AS REGISTERED DIRECTOR WHILST WE ACT AS THE SHAREHOLDERS, THE NEWLY INCORPORATED U.K COMPANY ACTS AS THE AGENT FOR MANHATTAN INTERNATIONAL L.L.C. SEE EMPLOYERS FURTHER GUIDE TO PAYE & NICS (CWG2(2005) TO ENSURE YOUR INTERESTS ARE SAFEGUARDED.

20% TAX FREE EXPENSES ARE CLAIMED UNDER S337 ITEPA 2003 SOLELY @ EXCLUSIVELY FOR BUSINESS PURPOSES.

YOU RECEIVE A TAX FREE LUMP SUM PAYMENT AT THE END OF EACH TWO YEAR PERIODS WHILST ALTERNATING BETWEEN EACH EMPLOYER.

YOUR SPOUSE CAN BE EMPLOYED UTILIZING THEIR TAX FREE ALLOWANCE AT THE SAME TIME CREDITING THEM WITH A FREE PENSION.

TO SETTLE YOUR TAX LIABILITY @ 10% DIVIDEND RATE MEANS YOUR OVERALL BILL WILL BE LESS THAN 4% OF YOUR EARNED INCOME AND YOU CONTROL THE UK AB COMPANY’S BANK ACCOUNT.

BECAUSE YOU DO NOT HAVE TO PAY THE SECONDARY NATIONAL INSURANCE CONTRIBUTIONS THEY CAN BE RECEIVED AS SALARY SACRIFICE.