An Umbrella Company like ePayMe, is a business that is used predominantly by Recruitment Agencies to pay temporary workers. Your umbrella company is your legal employer and will pay you PAYE. However, the work you carry out will be sourced by the Recruitment Agency on a short term and on an assignment by assignment basis.Before the Recruitment Agency can offer you an assignment, they may ask you to be employed by one of their preferred Umbrella Companies. Many Umbrella Companies are … [Read more...]
National Insurance Increase Reversal; What this means for your payroll
As the Government is committed to a low-tax, high growth economy to ensure people retain more of the money they earn and for businesses to be able to invest, grow and be productive an announcement was made, that the National Insurance Contributions increase will be reversed along with the provisionally planned Health and Social Care Levy.National Insurance rates from 6th November 2022 will be reduced, removing the 1.25% increase for the remainder of the tax year. The Health and Social … [Read more...]
HMRC ‘will resist any reversal of end-clients making decisions on IR35’
The taxman will oppose any deviation from the central tenet of IR35 reform – that engagers decide the status of their limited company contractors.Issuing this assessment, HMRC dispute firm WTT Consulting could have been trying to clue-up or warn those hoping chancellor Jeremy Hunt uses his Autmn Statement 2022 on November 17th to announce an off-payroll review.Dolan Accountancy But the firm’s Graham Webber, who specified the resistance by HMRC to removing clients as the IR35 … [Read more...]
Support package for over 50s jobseekers
On the 4th July the Government announced a new support package to tackle unemployment amongst the over 50s on benefits.The new measures are set to help a quarter of all job seekers get back into work with an estimated £22 million investment.As a stable income is the best route for people to support themselves through challenging times, Jobseekers over the age of 50 will have more one-to-one support at jobcentres. This will help them get into and progress in work, boosting their earnings … [Read more...]
Hot Topic – Preferred Supplier Lists
With recent headlines, there is a need for Preferred Supplier Lists (PSL's) but at what cost?A contractor could demand that they continue to be paid through an umbrella that is not on an agencies PSL and that umbrella might not be compliant. The contractor may want to continue to use them as their take home pay is 85%+. In this instance, why should an agency want to use them?There is also additional administration in setting them up, if they have not worked with them previously. Due … [Read more...]
Know your supply chain post IR35 reform
With a rise in exploitation and non-compliance in the recruitment industry, it has never been more important for all links of the supply chain to work together and ensure a good working practice.Since the IR35 reform, a number of contractors are now turning to umbrella companies for their payroll needs. Unfortunately, there has seen a rise in disguised remuneration schemes and bad practices amongst some businesses. A number of firms are actually tax-avoiding and deceiving contractors into … [Read more...]
All you need to know about supply chain compliance
5 months into the IR35 Off-Payroll Legislation, and companies are still facing the effects of these changes. It is now more important than ever to have a good understanding of who you’re working with.Due to the changes, the responsibility of assessing a contractors IR35 status is now down to the end hirer. Making an accurate assessment as part of the compliance process will help avoid any liabilities that could arise from not carrying out this check.The new legislation has meant that … [Read more...]
Starting supply from September? What you need to know
Starting a supply role can be quite daunting and complex when considering your options for having your salary processed.To take the weight off your shoulders, we have put together our top tips for finding a compliant and trustworthy payroll solution.Do not believe everything you read – some articles that have been published online regarding holiday pay and the deductions that payroll providers deduct, are not factually correct. A compliant payroll provider will have staff who specialise … [Read more...]
HMRC fails to convince Lords on legal justification for Loan Charge
In a widely anticipated follow-up session on the Loan Charge by the Lords Economic Affairs Committee, HMRC failed to convince the Committees members on the legal justification for it’s highly controversial retrospective tax that has resulted in thousands of freelancers being pushed to the brink of bankruptcy. The members also poured scorn on HMRC’s poor record of cracking down on rogue umbrella companies which are, according to the BBC, still promoting schemes.The Committee directed … [Read more...]
Employee Experience the focus of Post-Covid Business: How prepared is your business?
Many employers are making sincere changes to their businesses in order to incorporate the increasingly popular Hybrid Working Model and prioritise Employee Mental Wellbeing. The UK Government's initial response to the Covid-19 pandemic was to impose a countrywide lockdown, enforcing workers to work remotely from home where possible. Businesses as a result, had to adjust and comply with new regulations for the safety of its workers.Subsequently, the effects of lockdown has now … [Read more...]