Frequently Asked Questions
Q:
What is a dispensation?
A:
This is the level below which the Umbrella Company does not require to see receipts for certain taxable allowances or submit a P11 report to HMRC Contractors must retain the receipts in case of an investigation.
Q:
Why do Umbrella Companies dispensations vary?
A:
HMRC grants dispensations at levels reflecting current market rates. Umbrella Companies may negotiate different rates reflecting example, regional or market sector price differences, but these will be based on evidence of actual receipts.
Q:
How do I get paid?
A:
You send the time sheet to your Agency (or Agencies) and advise us who you worked with. We confirm the total value with the Agency and raise an Invoice on them for the work you have done.
Q:
When will I be paid?
A:
We guarantee payment will be made to you on the same day your money is received from the Agency. We use internet transfer which in many cases means the money is in your account by midday (our target time). However some Banks/Building Societies are not members of the Fast pay scheme and funds will take 3 working days to clear.
Q:
Can I use Priory Contractors for multiple assignments?
A:
Yes. We can Invoice multiple Agencies for whom you have worked and consolidate them into a single payroll. The additional invoices would incur a small charge.
Q:
How long does it take to set up?
A:
On receipt of a completed application form and once the conditions of the law on Money Laundering are met, set up only takes a short time to complete. (Example, bring the completed form to us and you will be ready to go in less than an hour.) NB. This can take place after you have started an assignment but must be completed before we can raise an Invoice.
Q:
What happens if I chose to leave Priory Contractors?
A:
We will be sorry to see you go but all that is required is notification of your intentions. Once your last payroll is completed we will produce a P45 for you to present to your next Employer.
Q:
What is the maximum level of Expenses I can claim?
A:
Your gross income less business expenses must exceed the national minimum wage for the hours you have worked. As long as this is the case there will be no limit of the amount of business expenses you can claim.
Q:
Do I get holiday pay with an umbrella company?
A:
The amount of holiday pay is detailed on your payslip and is paid across as you work so you will need to retain this money to cover your holidays. If you would rather we retained your holiday pay and paid you when you take your leave please let us know.
Q:
What happens once I have been working at the same client site for 24 months?
A:
When you have been at the same client's site for 24 months, or if you become aware that your contracted period will extend beyond 24 months, your workplace is
no longer deemed as temporary. Once you have breached the 24-month rule or you spend 40% or more of your time at the same site, you will no longer be able to claim travel between home and that place or other associated expenses.
Q:
Is working for an umbrella company the same as working as "Self Employed"?
A:
No, everyone who works for Priory Contractors umbrella company will be employed by the company. If you are a self employed worker working in the construction industry, Priory Contractors may be offer you the option to contract with them – please contact us for further details.
