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As you will know there are changes happening in April 2017 with regards to how agencies engage with Limited Companies or Personal Service Companies (PSCs). This blog will be the first of many updates over the coming months to ensure you remain informed and reassured about the changes that are happening.
To date, McGinley Healthcare has worked with its staff in whatever engagement they choose. We have direct PAYE, PAYE umbrella and Ltd Company workers. However, from 6th April 2017, for any workers working in the public sector, there will be no benefit in being paid through your limited company. Although we hope to still be able to pay into your limited company, you will be paid a net amount rather than a gross amount, in line with the new legislations, in effect bringing you in line with PAYE workers.
For those of you solely working in the private sector we are hopeful that nothing will change for now, but we have yet to fully confirm this. Once we have confirmation we shall update you.
For those of you reviewing your pay options, you may have been advised by other agencies to be paid through an umbrella company which may well be the best route for you if you work mainly in the public sector. Our priority is to ensure that you are looked after, and when it comes to choosing an umbrella company it’s important that you choose the right one. There are hundreds of umbrella companies out there, yet many of them are not meeting their regulatory and HMRC obligations. This could have a massive impact on you in the long term as you would be held accountable for any money owed.
To protect you from future fines we are undertaking a thorough review of all of our PSL umbrella companies, to give you the best choice when working with McGinley Healthcare, should you choose to be paid through an umbrella company. We already have a PSL in place that your consultant can advise you of, but we are looking to extend the options available and offer you greater peace of mind.
Once our review is complete, we will send you a list of umbrella companies, the take home pay you’ll receive and the charge associated with the Umbrella Company to give you greater clarity in your choice. If there is an umbrella company that you have been working with that you would like us to consider in our review, please email us by the end of this week and we shall review it.
It is another difficult change in the market but our aim is to give you the support and peace of mind you deserve when carrying out your agency work. There are still many benefits to completing agency work including; enhanced pay (at least 50% more than you would earn in the same role in a permanent post) and the flexibility that it offers. We are busier than ever in terms of the work that we can offer and we’re always at the end of the phone if you wish to discuss anything further. Rest assured, your interests are at the centre of anything we do.
Next week I will be sending out a question and answers fact sheet, so if you have any questions that you’d like answered on this subject send us an email.