OVERSEAS CONTRACTORS:

Overseas Contractor’s Scheme: Details

These latter monies will not be subject to UK taxation and will be received by way of a loan after deduction for Arrangement fees. The use of a loan mechanism is to ensure that the receipt of these funds is not taxable on the individual. The loan is offset against the contractor’s investment in OCS held in trust and does not have to be repaid.

Who Can Join Costs

For more information call Overseas Contractor Solutions Limited on 01534 760 380 or visit www.overseas-contractors.com.

The essence of the Arrangement is that HERS will generate income from the resale of the Scheme Participant’s services to the end employer. On receipt of this income, HERS will make two payments:

A payment to the UK for onward payment as salary to the Scheme Participant. The amount of this payment will represent the amount the individual has chosen to receive to meet their day to day living costs in the UK The balance of any earnings in HERS (being the profit on the resale of their services) will be paid to a marketing company Overseas Contractor Solutions Limited (“OCS”) and from there to the individual’s non-UK bank account. Tax and NI savings on this element can be up to 41% for the contractor with NI savings for the employer on top

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