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You keep 85% of your contract value

It is hard to talk about this benefit – simply because it is so clearly obvious why this is important! The take home net pay resulting from using an EBT is around an additional 20% for most contractors, which is the same as working for 5 days and being paid for 6, or to put it another way you could instead work for 40 weeks a year in place of 48. Where would you go with all that free time?

There are no expense claims to keep track of

Which contractor does not find expense claims to be a right royal pain? How much would you like to know that you would never need to waste time and energy dealing with this unwanted and un productive administrative overhead?

IR 35 does not figure in the picture

Rather than have to qualify as a contractor through avoidance of falling within the IR35 legislation, which is designed to ensure that contracting does not yield appreciably more take home pay than PAYE, you can also fall outside of all of this legislation and therefore not worry about ever being re-classified and hit with an unexpected tax bill.

You qualify for a referral commission, simply by being paid via an EBT

Because it pays not to advertise EBT schemes, but because like all good businesses we wish to grow, being paid via the EBT qualifies you for a referral commission of 1% of all income paid out to your referee. Put another way, if you are the first in your team to catch on and can spread the benefits to 5 other people, there is an additional 5% pay rise on top of the 20% you have already netted by changing across your own payroll. In today’s economic climate, not many people are going to be the beneficiaries of such a big jump in pay without having first invested heavily in gold.

There are no set up fees

Unlike previous high yield schemes, there are no complicated tax efficient vehicles to set up, no up-front costs, you only pay fees upon any pay which you receive (deducted before your 85% net pay out)