The difference is, an umbrella company will be your only employer whether you’re on a contract or not. That continuity of employment will help when applying for a mortgage or credit. Whereas, with agency PAYE, each new contract is a different run of employment.
| Name of umbrella company or other intermediary: | MoneyTree Payroll Services Limited |
| Any business connection between the umbrella company or other intermediary, the employment business and the person responsible for paying you: | N/A |
| The gross or minimum amount that we will transfer to the umbrella company or other intermediary: | For example £14.73 x 40 hours worked, according to the hours on your timesheets your gross pay before tax would be £589.20 |
| Deductions that we will make to the gross amount paid to the umbrella or other intermediary required by law: | Employees NIC PAYE Taxes Employees pension contribution |
| Any other deductions that we will make to the gross amount paid to the umbrella or other intermediary’s income: | Administration cost £5 to £25 pounds Employers NIC Company pension contribution Apprenticeship levy Holiday pay held |
| Expected or minimum rate of pay to you from the umbrella or other intermediary: | As a temporary worker who works variable hours, the £14.73 hourly pay rate includes an amount of holiday pay. This equates to 12.07% Administration Fee applicable Additional Benefits: Employee Assistance Program Pension Online Portal access to all payroll documents Group Life Insurance Terms & Conditions apply Speedy Payments. Employee of the month awards |
| Deductions from your wage required by law: | Employees NIC PAYE Taxes Employees pension contribution |
| Any other deductions or costs taken from your wage: | N/A |
| Any fees for goods or services: | One-off deduction for £50.80 - £55.60 (if applicable) One-off deduction for Update Service £13 (if applicable) |
| Holiday entitlement and pay: | As a temporary worker who works variable hours, the hourly pay rate includes an amount of holiday pay. This equates to 12.07% |
| Additional benefits: | Mileage can only be claimed if you are not working under Supervision, Direction or Control (SDC), or if you are traveling between different work sites within your normal day's work and your contract is for less than 24 months. We may ask you to provide proof of ownership of a vehicle before accepting mileage claims. Subsistence can only be claimed if you are not working under SDC, or you are travelling between client sites and your contract is for less than 24 months. Such claims may submitted at the end of the tax year via a form P87 or as part of a self-assessment. Other business related expenses that you may be entitled to may also claimed back at the end of the tax year as outlined above. |
Registered in England and Wales Company number 12592729
MoneyTree Payroll Services provides a smart paryroll solution for both agencies and agency workers.
