The National Access & Scaffolding Confederation (NASC) recently made an announcement to remove the requirement for workforce to be employed directly and paid PAYE making a significant shift in how scaffolding companies should manage their payroll moving forward.
The NASC said the change intended to “allow members to take full control of how they employ their operatives.”
In the constantly evolving construction industry, staying abreast of industry changes is paramount to maintaining efficiency, compliance, and competitiveness.
With the recent NASC change, comes an opportunity for scaffolders to streamline their operations and enhance their workforce practices by opting to pay their workforce through the Construction Industry Scheme (CIS) via Genius Money.
Why use Genius Money? Genius Money has built a unique offering which will revolutionise how you engage your workforce. Genius Money will work with your business to eradicate your risk and liability, provide employment status checks, waiver your contract liability, take ownership of your CIS liability, streamline your back office and so much more!
Join the ranks of forward-thinking companies who are embracing CIS payments through Genius Money and experience the benefits first hand. Get in touch with us on 0330 335 0400 or email dwayne@geniusmoney.co.uk to find out how we could enhance your payroll approach to your workforce.
Following the change, many scaffolders may be tempted to pay their workforce through an umbrella company, however you must consider the pitfalls of embracing an umbrella scheme and exercise reasonable care at all times.
So what is an umbrella scheme? An umbrella company is a business that acts as a third party between a contractor and an employee. Genius Money DO NOT offer umbrella services and we strongly believe that this process is unethical.
Umbrella payments are very likely to be tax avoidance and is extremely high risk! You or your workforce could end up paying far more than just the tax owed back to HMRC.
So what do these Tax Avoidance Schemes look like? All of these schemes have one thing in common and that is to attempt to disguise the true level of your earnings, which would ordinarily be subject to Income Tax and National Insurance contributions.
Get in touch with us on 0330 335 0400 or email dwayne@geniusmoney.co.uk to find out how we could enhance your payroll approach to your workforce.
(Quote source: NASC.org.uk)
