Company Details

MyPay Limited

Registered at

14 Fox Hill Court
Boddens Hill Road
Heaton Mersey
SK4 2DU

Incorporation Number 6425704
VAT Number 921 1846 41

Overview of company business

MyPay provides both contractors and freelance professionals with a fully compliant umbrella solution when working through ourselves.  MyPay will invoice the agency for the contractor, the agency will then pay MyPay the gross amount agreed for the contractor and we will deduct all the relevant tax and National Insurance Contributions (NIC’s) on a PAYE basis.  MyPay's Umbrella systems will then allow the contractor or freelance professional to offset any genuine expenses that they have incurred performing their job.

Genuine Business Expenses

MyPay operate a policy of only offsetting expenses which the contractor has incurred within the role they do.  We do not advocate claiming round up expenses as these can result in your contractor having to pay additional tax and National Insurance Contributions at the end of the year if they are investigated.

Pay As You Earn

All contractors going through MyPay umbrella will be taxed on PAYE on their income meaning that there is no fear of IR35 for the contractor and the provision of Transfer of Debt for the agency through the managed service company legislation.

Dividend

MyPay will never pay a dividend payment to your contractor.

IR35

As MyPay only pay on PAYE you and your contractor have peace of mind regardless of whether they are inside or outside of the IR35 legislation. They are operating in a 100% compliant manner whilst still enjoying tax efficiency.

Managed Service Company Legislation

As MyPay are only paying on a PAYE basis you can rest assured that there is no risk of any transfer of debt provisions ever being applied to the agency.  This is a risk you potentially take if you ever allow your contractor to accept a dividend payment through a company.

Insurances

As the employer MyPay provides each of their contractors with the following levels of insurance

Employers Liability £10 million
Public Liability £1 million
Professional Indemnity £1 million

All at no extra cost to the contractor or freelance professional. If they do need anything extra please contact one of MyPay’s contractor team on 0161 442 4842 and we will look into increasing this for you.