Frequently asked questions on umbrella solutions
Below are some of the questions we are frequently asked about how umbrella companies work, and what your employment with Exchequer will involve. However, if you have any further questions then please contact us.
What are the benefits of becoming an Exchequer Solutions employee?
As an employee of Exchequer you are entitled to employment rights such as holiday pay, and can claim legitimate expenses with valid receipts in line with our company policy.
When do I receive my holiday pay?
You have a choice whether to receive your holiday pay each week on top of your basic pay, where it is clearly shown on your payslip, or for Exchequer Solutions to retain and pay it to you when you take a holiday. This option is clearly shown on your registration form.
What are legitimate business expenses?
Business expenses are classified as wholly, exclusively and necessarily incurred in the performance of your employment. You must send us the receipts for all the expenses you claim. Click here to find out more about how umbrella expenses work.
Why do I need to send in receipts?
If an expense has been genuinely incurred then there should be a receipt. We always ask for receipts from you as HMRC can challenge any of the expenses you claim. If receipts cannot be produced then HMRC can open a formal enquiry and scrutinise your tax affairs, which may lead to you facing penalties at a later date.
When do I get paid?
You will be paid promptly every Friday by BACS or Immediate Bank Transfer – or by cheque, if you prefer.
What insurance do you have for your employees?
All our employees are covered through our employers’ liability, public liability and professional indemnity insurance policies. Click here to find out more about how this works.
How can I become one of your employees?
You can register online, or speak to a member of our Registrations team, who will send you an application form. You should complete all the forms we send you and return them with proof of your right to work in the UK and a current P45 before you can be fully registered.
What if I don’t have a P45?
We will send a P46 form for you to complete and return with your application form. You will start on emergency tax until HMRC informs us of your correct tax code.
Didn’t find the answer you wanted?
To discuss becoming self-employed with Exchequer’s umbrella company in more detail and to get your questions answered, please call us on 01244 500195.