Introducing.....
Increase Your Profitability & Cash Flow
What is the ERNIFlex solution?
The ERNIFlex solution is an HMRC compliant solution using dormant companies that hold tax credits on their Corporation Tax (CT) accounts, typically these may have arisen from successful Research & Development (R&D) claims. ERNIFlex purchases the dormant company and rebrands to your business, and then offsets the tax credits against your PAYE account.
Rebranding
If your company is a match, the dormant company is rebranded to reflect your company's identity.
The rebranded entity becomes the official employer of your labour force.
Tax Credit Utilisation
HMRC has statutory authority to offset an R & D (Research & Development) Tax Credit against ENIC ( Employer National Insurance Contributions) under the "cross tax set off power", in the Finance Act 2008, section 130.
Cost Reductions
The credit is used at a rate equivalent to the employers NIC (typically 15% of payroll) less a 25% guaranteed reduction.
This is a completely free service and requires no heavy lifting from your side as we do all the administrative work.
Qualification
Your gross payroll per annum is over £1m
(No maximum as we currently have access to £1 billion + of tax credits)
Examples per annum :
Gross Approx NI Minimum Cost
Pay roll Contributions Reduction (25%)
£4m £400k £100k
£10m £ 1m £250k
£25m £2.5m £625k
£50m £5m £1.25m
£100m £10m £2.5m
NI contributions calculated for illustration at 10% but are typically anything between 8% and 11% of Gross payroll as a rule of thumb.
IncreaseYour Business Success Today
Offsetting Tax Credits
Offsetting Tax Credits
HMRC allows the offsetting of one tax duty against another.
This principle was established in the 2005 after the merger of Inland Revenue and Customs & Excise - which we now know as HMRC.
For instance, if a company is due a VAT refund but has a PAYE liability, HMRC can legally offset one against the other. This same principle underpins the ERNIFlex Solution
Regulatory Assurance
Offsetting Tax Credits
The practice has been recently confirmed as standard in HMRC's own community forums.
Our partners have been operating this since 2016.
As long as the business relationship is commercial in nature and all taxes are paid in full, HMRC have no objection to the offsetting of tax credits in this way.
Summary of Benefits
Summary of Benefits
* Significant savings by reducing employers national insurance contributions
(minimum 25%)
* Fully HMRC Compliant and legally established practice
* Efficient use of dormant tax credits that would otherwise be lost
* No risk of tax avoidance or evasion as HMRC receives all due payments
* ERNIFlex carry out all the administration work, so no heavy lifting on your part
* There is ZERO cost to engage and access the above benefits
Book an Overview Meeting
Enjoy the enhanced cash flow benefits within the next 2 to 4 weeks.