Accounting/Bookkeeping   Online Accounting   Self-Employed /CIS/Personal Tax   Compliance Services

Online Invoicing Online Accounting Service

Business Support Service   Contractor Compliance Services   Year End Accounts   Tax Rebates

Business Start Up Services   Business Startups - UK info.

Money Transfers   Training   New in the UK

In order for us to package your salary in the most tax efficient way, we will take on the role of your employer and pay your salary. Your pay is processed through what is commonly known as an Umbrella Company. The payment process is simple. Send us a copy of your time sheet weekly. We will raise an invoice to your agency for your hours worked. The agency will pay London 1st Payroll Services which package your salary in the most Tax efficient manner and pays your net pay. You can claim your business expenses by sending us proof or receipts of the expenses you incur in performing your contract.

When you join London 1st Payroll Services you will send us a copy of your timesheet which will allow us to invoice your agency/client for the hours that you have worked. We will provide you with bank details for your agency/client to pay your gross pay into, no NI or tax is deducted from this amount. Once the income is paid we will pay your net pay into your pesonal bank account after deducting tax & NI and depositing any money that you wish, into investments ie: Pensions Funds.

Those considered, under statute, to be employed by the government. This includes; Teachers, Actors and Custodial Workers. By law, people employed by the Government are unable to work through Limited Companies.

You may incur some expenses in performing your duty that you can claim a tax deduction for. For example: If you travel to a client's site for work purposes, you are entitled to deduct the expense from your gross pay and so reduce your taxable income. You will pay a reduced tax and save money. You will be given more details of the types of business expenses you can claim when you join London 1st Payroll Services.

Part of you National Insurance payment that you make goes into a State Second Pension (S2P). If you are from overseas (South Africa, New Zealand or Australia) you may not realise that you are entitled to this portion of your NI contribution when you eventually retire. Alternatively, you can opt to contract out of the State Second Pension and have this money placed into an Appropriate Personal Pension APP scheme instead of the State pension. London 1st Payroll Services can asisst you with this process as part of our salary packaging service.