New 'payroll concept' claims to reduce NIC

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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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About Gina Dyer

About Gina Dyer

I've been a journalist for four years, writing on a wide variety of topics from business and finance to travel, culture and celebrities. I began my career as an editorial assistant for Palladian Publications, a B2B publisher specialising in technical magazines for professionals in primary industries. I later moved into consumer magazines as a staff writer for French Magazine, a monthly travel publication aimed at Francophiles, and was part of the launch team for The Traveller in France, a quarterly magazine produced for the French tourist board. I was also a regular contributor to online travel portal Homesworldwide.co.uk, and later worked with customer publishers Future Plus as a freelance production editor, before joining Sift Media in January 2009. I am currently Deputy Editor of AccountingWEB.co.uk.

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