Payroll FAQs

Umbrella Company or Agency PAYE?

Although a Direct PAYE engagement is still fully compliant, engaging this way means that with every new assignment you will work under a new contract. This could mean that your tax code won’t be consistent and you may not always have the option to turn down work. 

 

Both Umbrella and PAYE provide the security that there will be no unexpected tax bills, you would be fully covered by the agency insurances and both options will automatically enrol you into workplace pension after 12 weeks of employment.

 

An umbrella model, however, allows you to maintain the flexibility of being a contractor without the administrative burden of maintaining your accounts, business insurances and keeping up to date with changes to tax legislation.

 

Some umbrella companies also allow you to sacrifice your salary into a personal pension/SIPP.

Will MyPay+ provide a net pay breakdown with all costs/deductions?

Yes. Simply email info@mypayplus.co.uk or call our team on 01925 912200, and we can arrange this easily for you.

Can MyPay+ make payments to my Ltd Company?

Yes, under our Deemed Tax employment contract.

Why are employers National Insurance and the Apprenticeship Levy deducted from the rate quoted?

All employers must pay employers National Insurance and the Apprenticeship Levy. It is a statutory requirement.

What is the holiday entitlement under the Employee solution and how does it work?

You will be allocated a statutory minimum entitlement of 28 days per year including bank and public holidays.

What are my pension options under the Employee solution?

We recognise that many of you are moving to an Employee or Umbrella solution from your own Ltd Company where you had greater freedom for pension planning. We have therefore tried to be as flexible as possible by offering a number of different pension planning options under our Employee solution.

Contact us today for a quote by emailing info@mypayplus.co.uk or call us on 01925 912200.