So much has been written recently about how umbrella companies unfairly deduct from employee’s pay packets, however, people don’t necessarily know the full story. Our role as a third-party payment service provider is to ensure that our candidates are paid fairly and compliantly in line with tax legislation, therefore the relevant deductions must take place.
Tax avoidance, disguised employment and bogus self-employment are all terms that are thrown around within the industry and all are terms which nobody wants to be associated with. Not being honest with how a person is engaged can land the candidate and hirer in serious trouble with HMRC, which is why Bishopsgate Contracting Solutions only offer fully compliant third-party payment solutions. So, what does this mean?
- We only offer compliant payment services: We only offer payment services which are compliant with HMRC and tax regulations. All of our services have been fully vetted and approved by a specialist tax advisor.
- We undertake checks on all our candidates: Our candidate registration process has been developed to ensure that we understand the nature of their assignment. We undertake a thorough check of each candidate engagement to determine their employment/IR35 status, ensuring they are correctly taxed and the right NI contributions are made on their behalf.
- We are transparent: With our clients and candidates, we ensure we are transparent with everything we do, from breaking down payslip deductions to providing contactable account managers. We are honest in our service and this is made clear across our organisation.
- We protect: Our honest, compliant and transparent approach means we are not only protecting ourselves but also our clients and candidates. It is our number one priority to ensure that our candidates and clients are not implicated with any tax-related issues.
It may seem simple, but we are firm believers in conducting our business in a fair and compliant matter, honesty really is the best policy.
Bishopsgate are specialists in providing payment solutions to both clients/agencies or contractors. Our in-house team of experts are on hand to manage your payment solutions to ensure your outsourcing experience is an enjoyable and beneficial one.
Whether you are an agency looking to outsource the payment of additional resource or a contractor looking for a hassle-free service to help manage your timesheets, payment and personal tax affairs then Bishopsgate can help.
To find out more on how Bishopsgate can take the hassle out of your outsourcing administration then contact one of our experts today through:
Calling: 0203 019 4990