At our Chester headquarters teams in our Registrations, Payroll and Customer Service departments are chosen because they have worked in recruitment agencies and

understand the demands of your business. Our experienced account managers work with you and get to know your business needs and then we work together to ensure

you are at the forefront of our services.

Our reputation for delivering quality solutions and a first class service is built on solid foundations. We believe we are the best because we listen to our clients and constantly improve our services around what you tell us.

This is our commitment to you:Prompt payment

With the guarantee that payments are made each week.Customer service

A dedicated account manager to look after your interests at all times.Choice

Flexible and responsive support tailored to meet the needs of recruitment agencies, self-employed contractors and our employees.Compliance

Certainty that we meet legal obligations.

Exchequer PAYE for lower paid workersv Exchequer PAYE offers agencies a fully compliant solution for paying your lower paid PAYE workers. By using this service you

can reduce the level of administration involved in-house for these workers whilst at the same time reducing the cost and risk of having them on direct PAYE.

v The process is simple. You can fix your labour costs at just £8.25 an hour and let us do the rest. We employ the workers and take on all the administrative costs such as registration, payroll, payslip posting, bank charges and RTI etc. We will also takeon the risks associated with being the employer such as SSP, SMP, tribunal claims etc. leaving you free to focus on filling vacancies not spending time on HR issues or pay queries.

v We will pay them national minimum wage (NMW) plus Holiday Pay (this can be rolled up or retained, either way it will be paid out in full), we will also pay ERNI to HMRC.

v After we’ve done this a small amount of money will be left which we will retain as our margin. We accept that in some cases we will make very little or no margin per worker, however we see the value of offering a complete service to our agencies and are focused on building long term relationships with our clients rather than each individual margin.

v It will not be possible for the worker to be reimbursed expenses on a weekly basis due to the rate, however we feel most ‘low pay’ solutions are non-compliant and in many cases seek to exploit the worker via complicated payslips. This can result in an increase in queries and distrust from the worker. We will assist the worker in claiming any allowed tax relief via a completion of a P87 at the end of the Tax Year.

v With this simple solution you can fix your labour costs (at a low but compliant level) and receive a high quality service with minimal pay queries.

EXCHEQUER PAYE

AGENCIES OUTSOURCED PAYROLLHave you considered outsourcing your payroll?

Our well trained and highly dedicated team understands the importance of an accurate and prompt payroll being delivered on a weekly basis. With so many options available to agency workers now including Umbrella, Self Employed,

EDM, Pay day by Pay day, PSC etc – many agencies have lost track of the in-house PAYE option.

We are here to help you offer that service without the administration and cost burden of employing staff and buying software yourselves.

SO, WHY US?

v ExperienceMany of the same processes and procedures that serve us so well in the umbrella marketplace will be utilised in the provision ofoutsourcing. Our well trained and highly dedicated team understands the importance of an accurate and prompt payroll being delivered on a weekly basis.

v Dedicated Account MangerWe will allocate you a dedicated account manager who will learn about your business meaning they will be better able to assist you with week to week processing. You will have a direct dial number and email for your account manager so no holding and being passed from pillar to post

v FlexibilityWe can register temps and arrange for them to be paid from a standing start in as little as an hour. No need to panic if you realise late in the week that you haven’t paid somebody.

v ComplianceWith so much legislation and HMRC making changes to requirements we know that this can be a minefield for agencies. We’re experts in this field and can take care of all of this for you.

v SavingsYou can make significant savings on staff, administration time and software by outsourcing your payroll to us.

v Exchequer gives your sub-contractor, the ability to provide their services on a self employed basis.

v The contractor can then claim their business expenses at the end of the tax year via a tax return.

v We will deduct the appropriate CIS tax on a weekly basis and pass the payment to HMRC.

v Remittance advices are emailed or posted on a weekly basis. v Our standard payroll process is via BACS payment on a Wednesday, but we do have

the ability to make same day payments where necessary – we guarantee to pay your contractor on time every week.

v Your contractor will receive a text every Thursday confirming payment for the Friday.

EXCHEQUER CISThe Construction Industry Scheme (CIS) requires contractors to be correctly engaged on a self-

employed basis and Exchequer Solutions has robust processes in place to guarantee compliance with HMRC guidelines.

We streamline the paperwork and with our competitive margins and public liability insurance, provide a comprehensive service for all contractors in the construction industry. With no annual

contract you are free to use our services as and when you choose.

EXCHEQUER CISInsurance offer for CIS contractors

For many contractors in the construction industry CIS was always their preferred method of providing their services. However since changes to legislation by HMRC regarding false self-employment many contractors

and agencies have felt that CIS is no longer a viable option.

At Exchequer Solutions we have always continued to offer CIS for contractors as it remains a legitimate option for those working in the construction sector who are not subject to Supervision, Direction and

Control. However we are aware that there are many individuals who feel that CIS is the correct route for them but have understandably been directed to other payment options because of the risk of

ramifications.

We are now pleased to be able to utilise an insurance policy to cover against losses, fees and penalties as result of a Section 44 or Status enquiry, this should make CIS an attractive

option once again for contractors who are self-employed and meet the right criteria.

The policy will of course only be available in cases where contracts have been vetted and approved by our advisors. Contractors wishing to provide their services on a self-employed basis will need to complete our

CIS questionnaire in order to have their status approved. Once the relevant criteria have been met we hope that this will enable many individuals to choose their preferred method of providing services and will

offer complete peace of mind to them and their recruitment agency.

CIS MARGIN STRUCTURE

CIS SELF-EMPLOYED

Gross Margin Net Margin

Excluding PL Insurance (own cover required) £19 £15.20

Including Public Liability Insurance £22 £17.60

DAY RATES

Gross Amount Gross Margin Net Margin

£0 - £50 £5 £4

£51 - £100 £10 £8

£101 - £150 £15 £12

EXCHEQUER UMBRELLA

There are many advantages to being employed by a longstanding and financially sound company such as Exchequer Solutions – here are some of them:

v Your contractor with have the security of being an employee with holiday pay and other benefits where they meet the relevant criteria

v Your contractor can claim business expenses but please see our expenses policy for more details

v Your contractor will complete various temporary assignments for us and claim travel expenses but please see our expenses policy for full details

v As an employee your contractors are really important to us and will always be paid promptly and treated with professional courtesy

EMPLOYED PAYE (UMBRELLA)

Gross Weekly Income Gross Margin PL Insurances Net Margin

£100 - £349.99 £15 Included £12

£350 or more £20 Included £16

EXPENSES POLICY UMBRELLAYour contractor must ensure that all required receipts relating to the expenses

accompany the completed expense claim form otherwise we cannotprocess any expenses. Receipts should be VAT receipts unless it isimpossible to obtain them i.e. Train Fares are not subject to VAT.

If your contractors are, at any time, unsure of what they can and can not claim they

Must notify Exchequer Solutions immediately on our free contact number 01244 563 130.

Travel Expenses Cars and Vans : On the first 10,000 miles in thetax year 45p per mile, on each additional mile over10,000 miles in the tax year 25p per mile.Motor cycles: 24p per mileBicycles: 20p per mile

Tools and Materials Your contractor may be able to claim the cost of small hand tools, health and safety equipment etc. Providedonly that they are essential to and solely for theperformance of your duties of employment.

Accommodation and Subsistence -If your contractors are at work for over 5 hours and have incurred the cost of a meal, they will be able toclaim for one meal (5 hour) at £5. If your contractors are at work for over 10 hours and have incurred the cost of a meal they may increase their claim to twomeals (10 hour) at £10.In exceptional circumstances, if your contractor worksunusually late and are still at work after 8pm andincur the cost of a meal on their journey homethen they may claim for a late evening meal at £15.

Professional subscriptions and courses These are allowable expenses provided that they are incurred wholly, exclusively and necessarily in the performance of your duties. For example a golf club subscription is not allowed, nor is a language course. In other words, they have to be relevant to your job.

v We have over 11 Years’ Experience behind us.v Exchequer Accountancy Services has been formed by combining the expertise of Chartered Accountants Quantic

UK and business service specialists Exchequer Solutions who have a wealth of experience working with recruiters and contractors.

v With Exchequer Accountancy Services, contractors get the benefit of having their very own Personal accountant who will work pro-actively to ensure that the contractor is maximising their take-home pay.

v We employ a wide range of skilled accountants (whether ACA, ACCA, CIMA, or AAT) and we pride ourselves on the strength of our teams.

v All of the contractor’s VAT, PAYE, National Insurance, and Corporation Tax will be calculated correctly and in line with HMRC guidelines.

v We deal with HMRC directly and provide them with any necessary supporting evidence.v Expenses are validated by the contractor’s personal accountant to ensure that they are in-line with HMRC

guidelines.v Pro-active expense advice to ensure that the contractor is claiming the maximum amount possible through the

business.v We hold any relevant documents for 6 years for contractor’s so they can rest assured they will be there if they

need them.v We will make sure we are maximising the contractor’s take-home pay at every opportunityv We will also make suggestions on how the contractor and the company can become more tax efficientv To make life simple for the contractors we also have a fantastic Free Agent IPhone App and Online Portal

ONLINE PERSONAL COMPLETE (INCLUDES

INSURANCE)

Unlimited telephone and email

supportü ü ü

Completion an submission of full

statutory accounts and CT600

corporation tax return

ü ü ü

¼ VAT returns submitted and filedü ü ü

Completion of year end PAYE and

HMRC submissions including P11D

and P60

ü ü ü

Weekly, Monthly, or Quarterly payrollü ü ü

Completion of annual return ü ü ü

Self-assessment tax return ü ü ü

Dividend document support ü ü ü

Storage of receipts and invoices ü ü ü

24/7 access to our online portal ü ü ü

Registered office ü ü ü

Regular Invoice Statements ü ü

24 hour response times ü ü

Monthly management accounts ü ü

Dedicated personal accountant ü ü

Pro-active advice ü ü

EAS UK Tax promise ü ü

Unlimited IR35 reviews ü ü

Credit Control Chase ü

Professional indemnity insuranceü

Public liability insurance ü

Employers liability insurance ü

PRICE COMPARISON £59 PCM + Vat

£95 PCM + Vat

£125 PCM + Vat

Service comparison

To whom it may concern

Re Exchequer Solutions

Accountax Consulting was instructed in January 2015 to undertake a full compliance review of the above named company on all areas affecting Umbrella companies and potential risks to their clients.

Exchequer Solutions is a UK based company, operating through a UK bank account with no offshore connections. It operates a simple and compliant umbrella and commercial contracting company employing individuals with full UK employment rights, and engaging self-employed individuals under contracts for services.

Employer compliance & Expenses

Assessment of whether systems and procedures, including calculation of pay, holiday pay, employer obligations and tax responsibilities are adhered to and compliant with legislation and HMRC, and assessment of whether specific expenses procedures, contractual provisions and expenses policy comply with current legislation, case law and HMRC practices.

Result: Fully compliant Risk Profile: 1

Employment Law, AWR & Pension

Assessment of whether contracts and procedures are fully compliant with Employment legislation, Agency Workers Regulations (procedures for identifying workers, comparable rates & terms etc), national minimum wage, anti-discrimination laws, Pensions legislation (including internal procedures and processes for identifying employees in scope and payments) and current enforceable laws and regulations of employers.

Result: Fully compliant Risk Profile: 1

Self-Employment, S44 ITEPA & CIS

Assessment of whether contracts demonstrate a genuine self-employed relationship throughout the contractual chain, procedures for determining whether individuals should be subject to s44 ITPEA 2003 (as amended by the 2014 changes) and whether the contracts reflect the reality of the working relationship. Analysis of compliance with the Construction Industry Scheme rules.

Result: Fully compliant Risk Profile: 1

Marketing Literature, website & information packs

Review of all sales and information documentation provided to individuals and clients to establish whether the company’s material present any risks associated with anti–avoidance.

Result: Fully compliant Risk Profile: 1

Managed Service Companies legislation

Assessment of whether the company falls within the remit of ss61A – J ITEPA 2003 (managed service companies legislation, and poses a risk to clients under s688A ITEPA 2003 (transfer of debt provisions) - Including all operative divisions of the company and their compliance which may have impact on the company services.

Result: Outside scope of legislation Risk profile 1

OVERALL CONCLUSION

On completion of the review of Exchequer Solutions Umbrella, Exchequer Solutions CIS and Exchequer Solutions Freelance the company achieved a risk profile of Category 1 demonstrating full compliance and low risk to their clients.

About Accountax Consulting

Accountax Consulting has been the leading name in IR35, Status, CIS and Umbrella for many years staffed by tax and legal experts who regularly defend taxpayers against HMRC enquiry including Tribunal representation. For full details of our company, services and Tribunal victories please visit our website at www.accountaxconsulting.com.

Yours sincerely,

David Harmer LL.B (Hons)Accountax Consulting

Verification of InsuranceTo: Whom it may concern

Re: Exchequer Solutions Ltd

We act as appointed insurance intermediaries in respect of the above named company(s) and can confirm the following covers are in place:

Employers Liability

Insurer: ZurichPolicy Number: REC1206010Period of Insurance: 29 June 2015 to 28 June 2016Limit: £10,000,000 any one occurrence

Public Liability

Insurer: ZurichPolicy Number: REC1206010Period of Insurance: 29 June 2015 to 28 June 2016Limit: £5,000,000 any one occurrence

Professional Indemnity

Insurer: ZurichPolicy Number: REC1206010Period of Insurance: 29 June 2015 to 28 June 2016Limit: £2,000,000 any one occurrence

This document is furnished to you as a matter of information only.

The issuance of this document does not make the person or organisation to whom it is issued an additional insured, nor does it modify in any manner the Contract of Insurance between the Insured and the Underwriters. Any amendment, change or extension of such contract can only be effected by specific Endorsement attached hereto. Should the above mentioned Contract of Insurance be cancelled, assigned or changed during the above Policy period in such a manner as to affect this document, no obligation to inform the Holder of this document is accepted by the undersigned or by Underwriters.

Date: 07 July 2015

For any further information, please call…

Dale Lewis on 01244 563 127 – 07467952317

National Sales ManagerOr email Dale@exchequersolutions.co.uk

www.Exchequersolutions.co.uk