Transition Company (TLC)
BITE has worked to source the most exciting concept in the contract market in the last decade.
The Transition Company provides for new contractors, contractors relocating to the UK or those transitioning their career from permanent to contract work, to give them the flexibility they need. It’s new and legal and completely logical yet no one else provides this unique opportunity!
Claim your flights and accommodation expenses back! Low admin costs for new contractors!
Excellent expense allowance for overseas contractors
If you are from overseas and have not yet started work you may be able to claim many extra expenses through the relocation and living away from home allowance to reduce your tax bill.
The BITE and its Associate company offer the opportunity to be in a position to help minimise the tax you pay through legitimate relocation and living away from home expense claims in an “Umbrella PAYE” employment program that is unaffected by any IR35 or MSC legislation and any changes to visa rules for example.
These expenses include
- The cost of your flight over to the UK
- One return flight home per year
- Cost of accommodation (rent) whilst living in the UK
- £50 worth of food a week
- BITE relocation support
*All expenses need to be receipted legitimate business expenses
Simply, it’s a Limited company that employs new contractors as full PAYE employees. It provides contractors with all the benefits of a traditional umbrella and most of a PSC without the initial responsibility of setting up their own company, yet increases net income (take home pay) by over 20%.It can then be “transitioned” to provide further income benefits. Once the contractor is comfortable with contracting, the company can be transitioned into a PSC, with all the traditional benefits of contracting through a limited company, and more.
Initial benefits include a reduced monthly tax bill and a complete relocation package: flights, accommodation, rent and food for up to 2 years plus weekly travel costs, to the value of £8000. These benefits can be increased by simple “Transition” into a PSC but with the added benefit of a full relocation package. Your TLC maximises both convenience and net income. We make it all so simple! Our services provide: no administration, just great net benefits!
- 24% Savings increase in your net income with running costs equivalent to that of a traditional umbrella service.
- Your TLC is immediately available and comes with its business bank account already open. No delays, no personal administration.
- Inclusive payroll service provided with the company administration.
- All bookkeeping provided by Sweeting & Smedley Ltd, professional accountants and taxation advisers of more than 25 years’ standing. All annual returns administered on your behalf.
VAT and corporation tax
- VAT and corporation tax returns all completed on your behalf by S&S.
Free set up and no close down costs
- Increases the flexibility and convenience.
All for a competitive monthly fee! Supported by a qualified accountant and tax specialist. Why not enquire how you can benefit and gain a free quotation.
BITE OFFER CAREER ADVICE so that you can make the right decision for your personal circumstances and backs this up with the opportunity of qualified independent accountancy, financial and legal advice on your contract, employment, financial, pension and visa services. BITE provides PAYE Supply services, all Limited Company ( Transition and PSCs ) must be incorporated via a firm of qualified / chartered accountants.