Advice needed re work.

[libero]

At present I am working as a sub-contractor(temporary worker) and the company I am working at is having trouble keeping men due to the pish wages on offer.(Compared to blue book sites elsewhere)But I am working near home and am in my own bed everynight, wheras I would have to travel to other sites and stay in digs.

 

The company has decided that if we want to we can change from sub-contractor (temporary worker) to something called composite company apparently this means paying less tax and our wages will rise by between £100-£200 a week, sounds too good to be true doesnt it??

 

Does anyone have any idea of the ins and outs of this, is it just a tax avoidance exercise which will eventually end up with a huge tax bill??

 

As far as I can tell you pay tax on a minimum wage along with your NI stamp the rest is paid out as a dividend to you tax free, a downside is no holiday pay and looking over your shoulder for Mr Tax man (I think)

 

Any thoughts??

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[libero]

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[libero]

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