Key Portfolio
Key Portfolio is commonly referred to as an Umbrella Company. It allows workers who are based temporarily at a site to benefit from treating work-related expenses as tax and National Insurance free amounts. As the portion of the candidate's gross funds which is subject to tax and NI is reduced, the amount deducted for tax and NI is lower and so can result in an increase in take-home pay.
These expenses include every day items such as meals, travel and some of the other direct costs associated with being a contractor.
Key Portfolio processes the pay for thousands of temporary workers every week. They provide the same statutory entitlements as a standard PAYE process with the difference being that you are able to treat work-related expenses as tax-allowable, giving you the potential to increase your take home pay.
For more information about Key Portfolio visit their website (http://www.mykeypay.com) or to download their literature click here.
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