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Individuals provide their services to end clients via their own personal service company (PSC) as deemed employees of Kimson Accountancy Limited. Part of their remuneration is paid to their PSC at a rate close to the National Minimum Wage or National Living Wage which is subjected to deductions of Income Tax and National Insurance contributions (NICs). The balance of their remuneration is paid without the deduction of Income Tax orNICsvia a company based in the Isle of Man and is described as a dividend.
PaySentry automatically checks your umbrella partners against HMRC named schemes and stop notices, and alerts you to any match.
See Umbrella Watchdog