FCSA launches new (free) online Payslip Checking service for Umbrella Company employees.
The UK Umbrella industry is (currently) unregulated, leaving non-compliant Umbrellas free to promote tax avoidance schemes which can potentially leave their unsuspecting employees (the Contractors) with large, unexpected tax bills in the future, along with hefty fines. We’re also hearing of more and more instances of ‘salary skimming’ and Umbrella Companies deliberately understating holiday pay.
It’s easy to join an Umbrella Company, which is why many chose to use them, but the pay mechanism that sits behind them, can, especially in the case of tax avoidance schemes, be extremely complicated, resulting in the individual not really understanding whether the correct deductions are being made. It is for this reason that the Freelancer & Contractor Services Association (FCSA) have developed their ‘Contractor Payslip Review’ service, which allows Contractors to simply upload their payslip and reconciliation statement to be independently checked, using the payslip verification software SafeRec.
Any Umbrella Employees one can use this free service, whether you’re working through an FCSA accredited Umbrella (which we always recommend) or not, and you can expect your results within 7 days.