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HMRC has published new guidance to enable contractors and agency workers working through umbrella companies to check their payslip to make sure they are not involved in a tax avoidance scheme.
It explains that receiving more money in a bank account than shown on the payslip could be a sign of tax avoidance and that they should use HMRC’s online calculators to check how much tax and National Insurance they should expect to pay on their income.
It also provides payslip examples that show different amounts of net pay and explains the risks of using disguised remuneration schemes, as well as how to report any tax avoidance arrangements made by an umbrella company.
