Agency
In highly uncertain economic conditions where contractors are searching for the ‘best’ return and legislation continually changes you need a solution that embraces these challenges. The Manximum-Pay solution encapsulates the ‘win win’ scenario that is vital for a growing business.
Manximum-Pay continues to grow as its unique solution gives contractors the optimal net (take home) pay within HMRC constraints.
Compliance
HMRC constantly monitor the contracting market and frequently attempt to “move the goal posts” where third party companies are involved. Recent legislation includes the Managed Service Company Legislation 2007 (MSC) and the ‘Transfer of Debt’ provisions. Manximum-Pay does not fall under any of the categories where agencies require a compliance check as Manximum-Pay engages the self- employed workers and therefore remains outside of the MSC legislation.
One of the clear advantages of using Manximum-Pay as the intermediary company is that there are no Class 1 Employer’s National Insurance Contributions to be paid. This is clearly defined in the ITEPA (2003) act, where engaging a third party absolves the worker from personally providing services to the client and therefore no Employer’s NI is required.