OPERATING PROCEDURE FOR THE AB COMPANY
Using your initials ending with ( U.K. Services Ltd ) form a New UK Incorporated Company of that name of which you and your spouse or whoever are the named Directors.
Please send us a copy of the Certificate of Incorporation.
You need someone to act as the Secretary
You need a Registered Office
Please inform us of these details.
The Shareholders are RONALD GEORGE & MARGARET MARY DANGERFIELD, both of 10 Queens Drive West, Ramsey, Isle of Man GB.
You need to open the Company bank account, you are the Authorised Signatory.
You need to appoint your accountant, please inform us of details & Address, if you wish we can put you in touch with one who is familiar with our arrangement and can liaise with the Revenue if needed.
YOU TRADE WITH YOUR OWN AB COMPANY.
You instruct your accountant to register the AB Company for PAYE, this gives you access to forms P14 & P30 (AZ) (CL) which are completed and filed together with your NIL payment of TAX, this then substantiates the 0% payment of National Insurance giving you the FREE pension credit worth around 2K5 pounds per annum, if you have a nonworking spouse they can be employed through our arrangement at a basic wage plus saving further TAX as well as, giving them also the Free pension credit.
The principal activity of the AB Company is that of a Collecting Agent acting as Principal & Agent for MANHATTAN INTERNATIONAL L.L.C. of 1912 Capital Avenue Cheyenne WY 82001 USA and in so doing earning 3% commission.
A TERMS OF ENGAGEMENT CONTRACT is raised between the AB Company and MANHATTAN INTERNATIONAL L.L.C. to provide your services on contract.
Of the earned income you retain 3% within the AB Company the remainder is paid to MANHATTAN INTERNATIONAL L.L.C. in response to Invoices raised MONTHLY ( INVOICES SUPPLIED ) of which:
You receive a cheque for 40% of that renumeration for payment into your bank as your taxable income
You receive a cheque for 20% of that renumeration for payment into your bank as business expense allowance
To eliminate any possible delay in you receiving payment, you can be issued with company paying in slips to allow you to issue your AB Company cheque to split the payment between the renumeration that you receive as income & business expenses and the remaining sum to Manhattan International L.L.C.
i.e 60% to you less any paid to your spouse
40% to Manhattan International L.L.C.
Copies of the transactions need to be sent to Manhattan International L.L.C. in order for Salary Confirmations to be issued.
12.5% which is deducted as the 2nd NIC can be taken by the individual in the form of Tax Free Salary Sacrifice paid for by the Employer such as pension contributions, this enables your Pension Payments, if opted for, to be credited to your pension provider.
And the redundancy fund to accumulate as a retained sum of 17.5% of that renumeration which is earmarked as a TAX FREE Redundancy payment at the end of each two year contract.
All that, together with the maximum benefit 10% that can be gained through this arrangement using your spouse, means that anyone earning up to £60000 per annum, will pay less than 4% TAX and be reimbursed our fee in the process.