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The scheme users sign a Contract of Employment and Commercial Loan Agreement with Compas Limited, a company based in the Isle of Man. A UK umbrella company, either Ernest Umbrella Limited or Imagine Umbrella Limited, then enters into an Agreement for Administrative Services with Compas Limited. Ernest Umbrella Limited/Imagine Umbrella Limited then contracts the scheme user’s services to a UK intermediary/agency. The UK intermediary/agency then contracts the scheme user’s services to the end client. The end client pays the UK intermediary/agency for the scheme user’s services, who in turn pay Ernest Umbrella Limited/Imagine Umbrella Limited. Ernest Umbrella Limited/Imagine Umbrella Limited then invoice Compas Limited to obtain a fee for their services Ernest Umbrella Limited/Imagine Umbrella Limited then send the money for the scheme user’s services to Compas Limited. Compas Limited makes a single payment to the scheme users comprising a National Minimum Wage/National Living Wage salary with Income Tax and National Insurance contributions (NICs) deducted, and a payment, described as a loan, pursuant to the loan agreement, which is made without deductions of Income Tax orNICs.
PaySentry automatically checks your umbrella partners against HMRC named schemes and stop notices, and alerts you to any match.
See Umbrella Watchdog