The next generation umbrella company has arrived.
Transparent Umbrella Company combines technology first deployed to manage huge levels of foreign exchange risks in the City of London with the old school employment and payroll experience.
Using Transparent Umbrella Company’s platform means agencies have instant access to worker payslip data, delivered through ‘real time’ reporting channels which complement agencies current internal compliance requirements.
Tax compliance is now anytime, anyplace, anywhere…
Until now, the ability to validate payslip data has necessitated expensive and largely manual, periodic and retrospective reporting. Transparent Umbrella Company makes compliance and tax validation simple. A director or compliance manager can now choose to check in payslip data in real-time while walking in the park or waiting for a train.
Cost benefits for agencies & proven compliance rigour for the public-sector
When partnering with TUC, agency compliance managers no longer have to undertake manual checking procedures. TUC provides payroll data to allow agencies to audit all worker payslips. Moreover, TUC can deploy software that checks daily payslip data emitted from the Transparent Umbrella Company platform.
Lower fees for workers too
Just as there are immediate positive cost and risk management implications for agencies, this type of technology also enables workers to be charged a much lower, arguably fairer fee. We all know that since travel and subsistence was reformed in 2016 (and umbrella payroll process simplified), fees to workers have been slow to react. This cycle of high fees and low compliance has now been broken, the effect being that for partner agencies, fees for umbrella workers are now targeted from just £1 per shift or £5 per week – some of the lowest umbrella fees in the UK.
Getting started with Transparent Umbrella Company
To see how Transparent Umbrella Company can mitigate your exposure to the Criminal Finance Act and IR35, help reduce your internal compliance costs and improve outcomes for and buy-in from workers:Contact Us