Innovate Limited

How the scheme works

The scheme users sign a contract of employment and commercial loan agreement withIL, based in the Isle of Man.ILthen enters into a contract with FUL andCCA(the ‘UK umbrella companies’), for the scheme user’s services. The UK umbrella companies then contracts 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. The UK umbrella companies pay the full amount received toIL, who then pay a fee to the UK umbrella companies.ILthen pays a National Minimum Wage/National Living Wage salary to the scheme users with Income Tax and National Insurance contributions (NICs) deducted, and a payment, described as a loan and made pursuant to the loan agreement, without deductions of Income Tax andNICs.

Directors

• Jolene Cowell
• James Paul McAllister

Connected companies

• Innovate Limited (IL) — Registered in the Isle of Man
• Frank Umbrella Limited (FUL)
• Contractor Corner Accounting Limited (CCA)