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To Avoid Taxation and remain within the law it is necessary to take the following steps. All Employers must use this procedure to gain full advantage of the system.
1) An off-shore Bank Account must be available. It would be an advantage to arrange this with the off-shore Agency, but there is no reason why you should not do this for yourself. There are Tax advantages if your business clients or customers also have access to off-shore Banking. It means financial transfers take place beyond HMRC.
2) Some Employers might find it easier than others to Bank their earnings off-shore as some income being cash, it will depend on the amount. It is always possible to use cash to pay bills and daily running expenses, and there are other legal means of converting cash into off-shore assets.
3) Each week or month you, the Employer, informs the off-shore Agency of the Employees total earnings for the month. These details can be entered via a secure service on our Website. Once the Agency has received the salary information, they will in turn submit an invoice for the same amount to the Employers Bank. The Bank will then make payment to the Employees account. (The Employees will make their own arrangements as to Banking. Either through the Agency or independently.)
4) Arrangements can also be made, so that any Banking Transfer methods can be passed into or out of your account, but only on your authorization, through our Agency. This adds distance between the account holder and the Bank, removing any pressure that might arise from officials or regulators.
The following links, are to sections explaining the involvement of each of the parties mentioned:
1) What the Employee needs to do
2) What the Agency needs to do
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