PAYE Services Limited
- Promotor of Scheme: PAYE Services Limited (PSL) / Simon Peter Whitehead (Director of PSL)
- Address: PAYE Services Limited, 7 Bell Yard, London, WC2A 2JR
- Publication Date: 28 June 2023
- HMRC’s Scheme Description (summary): “Arrangements involve users signing a ‘Contract for Employment’ with PAYE Services Limited (PSL) that will pay them at a rate of National Living Wage (NLW) for each hour worked. They also sign a “Master Advance Agreement”. The user provides services to the end client and submits timesheets to PSL for the work done. PSL pays the user a single payment comprising of the NLW salary (with any holiday pay) and the Advance. The payment in relation to the Advance is made without the deduction of Income tax or National Insurance contributions”.
- Any other information HMRC considers relevant to publish about these schemes: “PSL sells its services via the website PAYE.com. PSL claims that it commits to provide further benefits to its employees, and that it is obliged to make employee incentivisation payments from its gross profits in the form of contributions to an “Investment Employee Incentivisation Scheme” (IEIA); where it intends to invest these contributions in a Cayman hedge fund to generate further profits for its Beneficiaries. HMRC has seen no evidence to suggest this exists or takes place”.
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