New Mill Resourcing Ltd

How the scheme works

The arrangements involve individuals providing their services to end clients through New Mill Resourcing Ltd. The individuals receive 2 payments from New Mill Resourcing Ltd on the same date. The first payment is salary paid at a rate close to the minimum permitted under the National Minimum Wage Act 1998, with Income Tax and National Insurance contributions (NICs) deducted. The second payment, described as a ‘Withdrawal amount’ against the individuals company incentive plan report, is paid without the deduction of Income Tax andNICs. It isHMRC’s position that the whole payment is actually income received in respect of the individual’s services provided through New Mill Resourcing Ltd and Income tax andNICsare payable on it.

Directors

• Suresh Kumar

Addresses

• 85 Great Portland Street, London, England, W1W 7LT