Umbrella companies are faced with numerous tax obligations, which are policed rigorously by HMRC.
PAYE obligations are the biggest burden, ensuring all information is correct for the purposes of Real Time Information processes and pay is calculated correctly. As an employer, Umbrella companies must ensure they have true and accurate information for all employees they engage and account for all the correct tax and NI on payments.
Many companies unwittingly fall foul of Tax or VAT problems, most commonly simply by the way the information is presented on the payslips to the employees and how they refer to the profit they retain. Is it a fee? Is it simply a profit margin?
Our team have years of experience in employer compliance and defending employers against HMRC enquiry. We can guide you through all the risks and responsibilities facing an employer in the world of tax, but more importantly we can help you through the umbrella company specifics of the correct calculation processes (so you are not simply relying on software to do its job correctly without knowing if it has done so), how to present the information correctly to your employees and how to ensure your marketing literature does not unwittingly draw unwanted attention from HMRC.