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If, as an Employee, you ask your present Employer, now referred to as the Company, to look into this proposition and to consider changing the "Work Contract," that is the agreement by which you work and are paid, whether it is hourly, daily, weekly or monthly, all of this will change.
Your work, your place of work and the hours and nature of your work will not change. But the money you receive, will be paid into an off-shore account by an Agency. Your off-shore Bank Account, can be arranged by your, "Company," or by the Agency. That is your choice.
Cash can be drawn from any High Street Bank, as normal. But the amount of cash must not exceed your normal Tax Allowance. In addition to your personal allowance, there is an allowance for each of your dependents.
The Inland Revenue produce 150 little "Booklets and Leaflets," from IR1 Extra Statutory Concessions, to IR 150, Taxation of Rents. A Guide to Property Income.
Of particular interest are the following.
Leaflet IR90. Will explain the Tax Allowances and Reliefs.
Leaflet IR20. Resident and Nonresidents. Liability to Tax in the United Kingdom. This is a most important Leaflet to read as it explains the concessions that allow you to claim 100% Tax Relief on ALL money NOT remitted to this Country. As long as your money stays off-shore, NO TAX is liable.
Leaflet IR56. Employed and Self-employed. A Guide to Tax and National Insurance.
Leaflet CWL1. Starting Your Own Business. This Leaflet is particularly interesting, it lets you know that if you decide to Avoid Income Tax as this site suggests, you can still contribute to your State Pension, and get your Full health care treatment, plus Maternity care, the full works, and all it is going to cost you is £2.10p each week.
We would recommend that everyone gets copies of these Booklets so that they can confirm the validity of this Site and what I am saying.
The following links, are to sections explaining the involvement of each of the parties mentioned:
1) What the Employer needs to do
2) What the Agency needs to do
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