Not only do we all have to contend with IR35 from 6th April 2020, there are also some new regulations coming in to effect about the new ‘Key Information Document’.
In simple terms, all employment businesses will need to provide agency workers with a key information document before agreeing terms with an employment business.
The aim is for the Key Information Document to give better information to agency workers, especially around their pay and the terms of their employment. Although there is no need for the figures provided in the Key Information Document to disclose individual contractors net pay for each assignment, but they need to be able to demonstrate very clearly how the proposed rate of pay is affected by fees and deductions through a supply chain.
It is the responsibility of the employment business to provide agency workers with a Key Information Document, including when the agency worker is engaged through an intermediary or umbrella company. Agency workers that already work for you won’t need a Key Information Document to outline their existing terms, but if they signed up to any new employment business, you would be required to provide one for them.
You will need to liaise with your supply chains to gather the information, there is some great information available on the gov website and template key information forms for PAYE, Umbrella and PSC’s. There is more guidance about Key Information Documents here.
If you engage any of your workers through EdenGroup Umbrella or PAYE services, please contact Beverley to gather the information ready for April. Call 01276 538143 or email firstname.lastname@example.org