Payslip skimming has been in the news recently, with stories of some of the UK’s leading umbrella companies engaging in the practice. If this is something you’ve heard of, but you don’t quite understand what it means, then this blog is for you.
In this post, we take a look at what payslip skimming is, and how you can avoid it. Keep reading to find out more, and if you’re looking for a reputable umbrella company, then visit the Clockwork Contracting website today.
What is Payslip Skimming?
Essentially, payslip skimming is when a company is not being fully transparent with its workers on the charges that it applies. For example, they’re marketing a charge to a worker, which most assume is the total cost to them for using that service, but at the same time, they’re applying hidden costs that effectively amount to a profit for the provider.
Skimming is allowed to flourish in environments where there is a lack of transparency. Within the industry, there have been a number of umbrella companies who have been deliberately following this practice for a number of years.
In essence, they are deducting an additional fee without it being displayed on the payslip. Many contractors don’t tend to look at their payslips, and so, they’re none the wiser and this practice can go on for many years.
How Do I Avoid Payslip Skimming?
The main way to avoid payslip skimming is to work with an umbrella company that is trustworthy, open and transparent at all times. This will give you reassurance that they are a provider with integrity and honesty.
It is imperative that you find the right umbrella company to work with, and Clockwork Contracting is definitely the best choice for you. This is because we provide a range of umbrella company services in full compliance with the requirements and industry standards right now.
Searching for Umbrella Companies in the UK?
If you’re trying to find a trusted umbrella company in the UK, then Clockwork Contracting is the best choice for you. We are a leading provider of payroll and umbrella company services. We ensure that our services are fully compliant and transparent for all end clients, agencies and contractors.
To find out more about our services, please give us a call on 02030 042262. You can also reach us by email at email@example.com or drop us a message via the online form on our website and we’ll be in touch with you shortly. We’re on hand to answer any questions you have and provide you with as much information as possible about our umbrella company services.