LITRG launch new payslip audit service for umbrella workers

SafeRec’s software is based on the fact the umbrella companies should be calculating pay and deductions in more or less the same way - that is, as follows:

• The umbrella company receives the assignment rate for the worker, that is, the amount paid by the agency or end client to the umbrella company.
• The umbrella company pays its employment costs in respect of the worker (employers’ National Insurance, apprenticeship levy, employers’ pension contribution etc) and retains its margin or fee. Because these employment costs are set by law, usually the only deduction that would vary is the margin or fee.
• The umbrella company then pays the balance to the worker, making any deductions as required, for example Pay As You Earn tax, employee pension contributions or student loan deductions.  

We have a lot of information already available on our website to help you understand how umbrella companies work and to manually check whether your pay and taxes are being dealt with properly. However, SafeRec’s software automates this checking process.

The process to get a payslip audit will work as follows:

LITRG creation

The page where you can read more about the service, and a portal where you can agree our terms and conditions and upload your payslip and contractor reconciliation statement, can be found on our website. 

We hope that the payslip audit service will be valuable to you and any friends or colleagues who are employed by an umbrella company. It is important to note that the payslip audit results are provided for informational purposes only and should not be considered alone, without seeking further professional advice.