Following the Matthew Taylor Report on 'Good work' and his recommendation for more transparency, PRISM (the trade association for umbrella companies) and The Low Incomes Tax Reform Group have produced a fact sheet aimed at workers engaged through umbrella companies.
The 'working through an umbrella company' factsheet offers guidance to those working through an umbrella company around their tax and employment status and provides practical tips to help them understand their pay and deductions. PayStream already provides an explanation with each pay slip but the fact sheet is helpful since it is produced by independent third parties.
It covers a range of issues on which workers are likely to have questions including holiday entitlement and other employment right issues and the availability (or otherwise) of travel expense relief how umbrella companies work.
Ensuring we provide a compliant service has always been our priority at PayStream which is why we fully support any attempt to help workers understand how their pay is calculated and the pro and cons of working through an umbrella.
