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The scheme users sign a Contract of Employment and Commercial Loan Agreement with a company based in the Isle of Man (Magna Limited). Three UK Umbrella Companies (Imagine Umbrella Limited, Total Payment Solutions Limited and Penguin Umbrella Limited) then enter into agreements for Administrative Services with Magna Limited for the provision of the scheme user’s services.
PaySentry automatically checks your umbrella partners against HMRC named schemes and stop notices, and alerts you to any match.
See Umbrella Watchdog