Staffing a payroll department for temporary workers can be expensive, especially when factoring in the time and effort it takes to setup a worker who maybe working for only a short period. It therefore, makes sense for trusts to operate a one step process, where they can not only manage a worker, process, approve and pay all in one portal.
This is where the 247 Time payroll service can make a difference. By using worker’s information already approved for use by the trust, the payroll service can pay candidates weekly via the traditional PAYE mechanism or as a limited company (with deductions for tax and other liabilities taken at source). This means that the trust will remain within scope for IR35 regulations.
It is still the trust who will approve each worker’s hours on a weekly basis. Payroll files are available securely within the reports section of 247 Time. These are show the nett amounts due to the candidate, the HMRC and any pension provision for NEST or NHS pensions. The candidates nett pay is remitted to the 247 Time escrow account for release to the candidate same day.