We PAYE Umbrella Limited

• Promotor of Scheme: We PAYE Umbrella Limited (WPUL) (formerly I Paye Umbrella Limited)
• Address: Scottish Provident Building, 7 Donegall Square West, Belfast BT1 6JH (former address: 138 University Street, Belfast, Co. Antrim, Northern Ireland BT7 1HH)
• Publication Date: 3 November 2022
• Scheme Reference Number (SRN) and date it was allocated: 96254839, 28 January 2022
• HMRC’s Scheme Description (summary): “Users of the scheme would receive their gross contract value in 2 separate payments. The first element was a salary paid via WPUL. This was generally paid at National Minimum Wage (NMW) rate. The second payment was in the form of a loan. It did not go through PAYE and this payment was not taxed.”

We PAYE Umbrella Limited – more details

The HMRC website states the scheme operates as follows:

1. Scheme users would have signed an employment contract and a Revolving Line of Credit Agreement, similar to a Loan Agreement.
2. We PAYE Umbrella Limited (WPUL) invoiced the employment agency or end users for the work carried out by the scheme users.
3. WPUL deducted its fee from the gross amount.
4. WPUL made one payment to the user equalling National Minimum Wage. WPUL operated PAYE on that payment.
5. WPUL made a second payment to the user on the same day for the remaining balance as a loan that was not taxed. This was under a Revolving Line of Credit Agreement.

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