63-66 Hatton Garden, London, EC1N 8LE

Arrangement details

The arrangement begins with an individual (‘the User’) holding a contract, or about to start a contract, with an end client (‘the End User’) or a recruitment agency (the ‘Agency’). The User becomes an employee ofOCLwho acts as the User’s employer and provides the User’s services to the End User.; OCLenters into an Employment Contract (the ‘Contract’) with the User which provides that the User will receive a salary fromOCLpaid at the National Minimum Wage or National Living Wage (both referred to hereafter as ‘the Salary’) plus holiday pay. The individual receives the Salary which is taxed throughPAYEand a second untaxed payment (‘the Untaxed Payment’) paid into the User’s bank account as a single amount. The Contract includes the ability forOCLto offer additional ‘benefits’ to employees.; The Users provide services to the End Users and complete timesheets, or electronic time recording system as required by the End User.OCLinvoices the End User or the Agency for the work done and receives payments.OCLpays Users the Salary, which is shown on their payslips (the ‘Payslip’), the Salary is paid after deduction of Income Tax and National Insurance contributions (NICs). At the same timeOCLpays an Untaxed Payment which is not recorded on the Users’ Payslips.; OCLalso issues a Reconciliation Statement (‘Reconciliation Statement’) which show the gross payment received byOCLfrom the End Users at the full hourly pay rate charged to the End User. The Reconciliation Statement also shows a lower hourly pay rate which is multiplied by the hours worked (to the maximum shown in the contract) to show the amount from which deductions are taken. The net balance represents the Salary which is then carried forward to the Payslip for the pay period on whichPAYEis applied.; The additional Untaxed Payment is shown on a separate document called a Withdrawal Statement (‘Withdrawal Statement’).