PAYEme Limited

• Promotor of Scheme: PAYEme Limited (PML)
• Address: 3rd Floor 8 Princess Parade, Liverpool L3 1DL
• Publication Date: 18 August 2022
• Scheme Reference Number (SRN) and date it was allocated: 03263080, 18 March 2022
• HMRC’s Scheme Description: “Scheme users will sign a contract of employment along with a ‘Master Advance Agreement’. The intention of the scheme is the user will be paid a salary equivalent to that of National minimum wage (NMW) and an un-taxed payment called an ‘advance’, meaning scheme users retain up to 78% of the expected gross contract earnings.”

PAYEme Limited – more details

The HMRC website states the scheme operates as follows:

1. 1. The scheme users enter into an Employment Contract with PAYEme Limited (PML). This provides that the ‘employee’ will be paid for time worked at the pay rate equivalent to the NMW and a commission, in accordance with the Commission Plan referred to at Schedule 1 of the contract.
   2. Scheme users enter into a ‘Master Advance Agreement’ with PML who are the sole trustee of a settlement known as the ‘PML Settlement’. This provides that PML will make an initial advance and further advances to the Scheme user. Each advance is repayable on its thirtieth anniversary and is interest free until due for repayment or interest is demanded by PML.
   3. Scheme user submits timesheets and PML invoices the agency or end client for the work done by the scheme user to receive payment from the end client. The invoices reflect the agreed contract value for services of the scheme user.
   4. PML retains around 18% of the amount invoiced to the agency or end client. The remaining balance is paid to the scheme user in 2 ways:
      • a salary payment based on NMW through the payroll; and
      • the ‘advance’ which is not paid through the payroll and made without deductions of income tax and National Insurance Contributions

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