Adapt Limited

How the scheme works

The scheme users sign a contract of employment and commercial loan agreement with Adapt Limited, a company based in the Isle of Man. Frank Umbrella Limited/TGI Payday Limited, both umbrella companies based in the UK, then enter into an agreement for the provision of the scheme user’s services. The UK umbrella companies then contract the scheme user’s services to a UK intermediary/agency. The UK intermediary/agency then contracts the scheme user’s services to the end client. The end client pays the UK intermediary/agency for the scheme user’s services, who in turn pay the UK umbrella companies. Following the deduction of a fee, the UK umbrella companies pay the remaining amount to Adapt Limited. Adapt Limited pays a National Minimum Wage/National Living Wage salary to the scheme user subjected to Income Tax and National Insurance contributions (NICs) and a payment, described as a loan, pursuant to the loan agreement, which is made without deductions of Income Tax orNICs.

Directors

• David Michael Yeomans

Addresses

• Adapt Limited: 6th Floor, Harbour Court, Lord Street, Douglas, Isle of Man, IM1 4LN
• Frank Umbrella Limited: c/o Cg & Co, 27 Byrom Street, Manchester, M3 4PF
• TGI Payday Limited: 145 Grimsby Road, Cleethorpes, England, DN35 7DG

Connected Companies

• Frank Umbrella Limited
• TGI Payday Limited