Freelance Overseas Limited

Freelance Overseas Limited offer the most tax efficient and legal method of remunerating contractors.

Some agencies have a policy of not trading with 'offshore companies' despite the fact there is no risk of MSC Legislation or breaching 3rd party debt transference.
 
Contractors can refuse assignments with agencies that have such policies as there is no legislation that should lead to agencies implementing such self-imposed regulation.

Freelance Overseas Limited conforms to all HMRC legislation. We are not a Managed Service Company (MSC). Our contractors are not issued shares or receive dividends to avoid paying National Insurance Contributions and regardless of contract status, IR35 regulations do not apply.

The changes in Managed Service Company legislation April 2007 and the 3rd Party Debt Transference legislation Jan 2008, means that agencies are rightly undertaking due diligence to ensure that they are not at risk. Some agencies may assume that they might be in breach of legislation because Freelance Overseas Limited is incorporated in the Isle of Man; however, we are not a MSC and functions only as an intermediary limited company offering invoicing services. This means that contractors are considered by HMRC as being legitimately self-employed in the United Kingdom.

Freelance Overseas Limited operates using the International Tax Treaty between the Isle of Man and the United Kingdom.

Through Freelance Overseas Limited, Contractors are self-employed and will pay tax and National Insurance Contributions in the United Kingdom as legitimately self-employed individuals.

For contractors this means that when they are not working, they are free of overheads as opposed to if they were operating their own limited company or working through an umbrella scheme.