New 'payroll concept' claims to reduce NIC

Deputy Editor
Sift Media
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This week a new service was launched which claims to be able to reduce companies’ National Insurance contributions by allowing them to convert their existing and future commission-oriented staff from PAYE to self-employed status.

Developed by outsourcing and payroll provider TMS, the ‘contract for services’ says it can deliver a significant cut in payroll overheads and allows employees new freedom to increase their earnings.

Individuals who were previously paid via PAYE can be registered as self employed by resigning from their current positions and signing TMS’s ‘contract for services’. TMS monitors the relationship between the employee and the employer to ensure the terms and conditions of the contract are adhered to. However, the concept only...

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