Solus PSC easily transforms your Umbrella Payroll to the Personal Service Company model

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The Solus PSC model explained

  • You remain the supplier to the Agency, as usual
  • PSCs become your suppliers
  • You process the timesheets
  • The system issues invoices from PSCs to you and sends your invoice to the Agency
  • You get paid by the Agency on Wednesday, as usual
  • You bulk pay the PSCs on Thursday
  • Payroll and dividend calculations run across all companies
  • Payment advice for salary/dividend, PAYE is emailed or texted
  • RTI, VAT100 across all companies from a single screen
  • Payment instruction for PAYE and VAT is emailed or texted
  • Bank transactions downloaded directly from your bank and matched against payments

PSC software with a different perspective

The new T&S legislation means that after April 2016 most Umbrella Contractors will not be able to claim travel and subsistence expenses. In the absence of these expenses, Umbrella Payroll will no longer be a viable option for contractors and agencies, leaving only two possible alternatives:

  • Personal Services Companies
  • Standard PAYE

While PAYE is an expensive and legislation-intensive option for most agencies, adopting any traditional PSC solution currently available will have a huge, negative impact on the way that back office data is processed. It also relies heavily on the contractors’ ability to deal with the challenges of running a company. Simply put, the traditional PSC model can be a recipe for disaster in most cases, particularly for the weekly paid contractor market.

So we designed Solus PSC from the outset with a different perspective! It’s a model that allows Umbrella Companies to make an easy transition to the PSC model while keeping business as usual for Agencies. And, more importantly, it’s a platform that allows Umbrella Businesses to remain a valuable player in the supply chain.

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