How does it work?

Through our facility you become an Employee and a Shareholder of a Limited Company, working on a contract for services basis, providing your services to various organisations. Portstaff Management Limited will set up and manage that company, file all returns and ensure that all legal obligations are fulfilled. In addition we will undertake all standard payroll duties e.g. payment of income tax to the Inland Revenue and National Insurance payments to the Contributions Agency.

You don’t have to worry about a thing!

The tax efficient nature of our facility will enable you to receive the maximum possible proportion of your gross earnings to which you are legally entitled. Your income would comprise of a combination of a weekly PAYE salary and a dividend payment generated from your shareholding. Because dividend payments attract a lower rate of tax and are not subject to National Insurance Contributions, your net income increases on two fronts in comparison to that which you would receive under ‘traditional PAYE’ and you will still maintain your entitlement to any associated state benefits.

Construction Industry Scheme (CIS)!

In compliance with Inland Revenue Legislation we are required by law to deduct a CIS tax of 18% from each employees gross invoice total if they are employed within the construction industry. All Portstaff companies have been issued with their own official Construction Industry Scheme Registration Card and employees of these companies utilise this facility.

How do I get paid?

It’s your choice. You can be paid weekly or monthly. Portstaff Management Limited will invoice the Agency you are working through, on your behalf, based on either your confirmation of rates and hours worked or a signed timesheet and, once we receive payment, we will immediately effect a BACS transfer of your net earnings directly into your personal bank account. Payments to personal accounts are normally effected on the Friday for work carried out the previous week.

What do we charge for all of our services?

Our weekly Management Fee is £15.00 for gross earnings exceeding £120.00.

Please note that Management Fees are subject to VAT at 17.5% What happens if I leave and revert back to PAYE ?

You have never really left the PAYE scheme. This means that when you leave Portstaff Management Limited will issue you with a P45 in the normal way and none of your existing rights under PAYE will be affected.

We do find however that very few of our clients leave once they start to enjoy and appreciate the benefits of working through Portstaff Management Limited. However should you wish to do so then the process is quick and simple. Just inform us that you are leaving and you can make alternative arrangements immediately.

Will I need to Employ an Accountant for my Personal Tax Return?

No. PML will take care of this. This will normally be covered by the management fee, so there will be no need for you to incur additional costs by using another accountant. If however you have more complicated tax affairs a further charge may be made.

If I am an employee will I be entitled to Holiday Pay and Sick Pay?

Yes. Your Portstaff company will make payment of these amounts as appropriate. However, this will reduce the amount of dividend available from the company.

If I move agency can I remain with my Portstaff Company?

Yes. All you need to do is tell your new agency you want to invoice through your Portstaff company, give them the details and we will do the rest. You must also inform the Administrator of your company (Portstaff Management Limited).

Can I make contributions to a Stakeholder Pension?

Yes. Please contact PML for details.

Do you have any further questions?

Please contact Portstaff Management Limited either by telephoning the number below or writing to the address stated.

Portstaff Management Limited
Clarendon Court
Over Wallop
Nr Stockbridge
Hants
SO20 8HU

Telephone: (01264) 781123
Fascimile: (01264) 781153