KEY INFORMATION DOCUMENT
This document sets out key information about your relationship with Morgan McKinley including details about your pay when engaging via a Personal Service Company (PSC) and the off-payroll rules apply (inside IR35). This is known as a deemed employment model.
This document can be used in order to help you make an informed decision before commencing on an assignment.
Morgan McKinley has appointed Giant Business Connect Limited as the intermediary company for such contractual engagements. Becoming the fee-payer, they will be responsible for calculating tax and other deductions before processing payments.
The Employment Agency Standards (EAS) Inspectorate is the government authority responsible for the enforcement of certain agency worker rights. You can raise any concerns with them directly using the contact details below: 020 7215 5000 or eas@beis.gov.uk
GENERAL INFORMATION
| Name of employment business: | Morgan McKinley Group Limited |
| Name of intermediary company: | Giant Business Connect Limited |
| The party your limited company contracts with: | Giant Business Connect Limited |
| Type of contract you will be engaged under: | Subcontractor |
| Who will be responsible for paying you: | Giant Business Connect Limited |
| How often you will be paid: | Weekly |
| Any business connection between the intermediary company, the employment business and the person paying you: | None |
| Expected or minimum rate of pay: | As agreed with Morgan McKinley, no lower than national minimum wage. For the purpose of the KID, rate of pay will be £100 per day |
| Deductions from intermediary income required by law: | Employers National Insurance and Apprenticeship Levy |
| Any other deductions from intermediary income: | Giant Business Connect Limited margin of 1% of the assignment income |
| Deductions from your pay required by law: | Employee National Insurance and PAYE Income Tax |
| Any other deductions or costs from your pay: | None |
| Holiday entitlement and pay: | Not applicable |
| Additional benefits: | None |
| Any opt out agreement under Regulation 32 | EEA Status: Opt Out |
EXAMPLE WEEKLY PAY
| Weekly Intermediary Deductions | Weekly Worker Deductions | |
| Example rate of pay: | £500 per week (based on a 5-day working week) | |
| Deductions from intermediary income required by law: | £65 Employers National Insurance and £2 Apprenticeship Levy | |
| Any other deductions from intermediary income: | Giant Business Connect margin of 1% = £5 | |
| Example rate of pay to you: | £428 | |
| Deductions from your pay required by law: | £37 PAYE Income Tax and £32 Employee National Insurance | |
| Any other deductions/costs from your pay: | None | |
| Fees for goods or services and their frequency: | None | |
| Example net take home pay: | £359 |