Protean Ltd (Company number 15551085)

Arrangement details

Scheme Users enter into an employment contract (‘the Employment Contract’) with Protean Ltd. The contract states that wages will be at the National Minimum Wage (NMW) rate if applicable.; Protean Ltd invoices the recruitment agency or end client for the services carried out by the Scheme Users based on the hours worked and the appropriate hourly rate.; Protean Ltd receives the funds for the services carried out by Scheme Users from the recruitment agencies or end clients.; Protean Ltd then make a payment to the Scheme Users. The Scheme Users receive basic pay (theNMW) which is on the payslips and accounted for tax and National Insurance contributions (NICs). Also, on the same day, a secondary untaxed payment is paid to the users by Protean Ltd and described as a ‘allotment gain.’