About Tallywise Services
Our employment business model
We offer a PAYE solution for contractors’ known as an ‘Umbrella Solution’.
The term ‘umbrella’ is used in line with HMRC’s understanding and definition of an umbrella provider. All payments have full PAYE applied and are subject to the National Minimum Wage. We do not operate direct contractor allowable mileage expenses from ‘general
earnings’.
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The terms of our employment contract, namely the discretionary bonus, also keeps the claims outside of the tests contained within the Optional Remuneration Arrangements Legislation [OpRA].
HMRC confirmed that genuine umbrella solutions fall outside of the scope of the Managed Service Company Legislation.
As our umbrella solution is in line with HMRC’s definitions of an umbrella provider then, in our opinion, the company would therefore fall outside the scope of the MSC legislation, and not be classed as a Managed Service Company Provider.
The umbrella also meets the obligations as set out in The Onshore Employment Intermediaries Legislation in the application of PAYE to their workers and therefore does not represent any risks of debt transfer back to recruitment companies in relation to this legislation.
Our Solution
We offer a PAYE solution for contractors’ known as an ‘Umbrella Solution’.The term ‘umbrella’ is used in line with HMRC’s understanding and definition of an umbrella provider.All payments have full PAYE applied and are subject to the National Minimum.
Insurance
A range of insurances are provided as standard to the employees of the Umbrella Company such as Employer liability, public liability, professional indemnity.
VAT
We are aware of the VAT concession available to employment businesses and employment agencies that supply workers as defined within the concession; The Nursing Agencies’ Concession. But, we have confirmed that in all situations VAT will be applied to all invoices to recruitment companies.
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Data Protection
Tallywise Ltd is registered with the ICO for data protection: ZA530092 Renewal date is June 2024
Pension & AE
All our employees automatically enrolled for pension and we deduct and pay the contribution via NEST.
SDC Assessment
We do not assess SDC for any umbrella workers