Your payment options
To make your life a little easier, we’ve updated our ‘payment options’ guide to include everything you’ll ever need to know about getting paid through Pulse and the different options available to you. The key details have been summarised below.
Alternatively, if you’d prefer, you can watch our payment options video, to understand which payment method is right for you.
Watch our payment options videoPayment methods available with Pulse
PAYE
PAYE, which stands for Pay As You Earn, is tax based on your income which is deducted from your salary by your employer. Your employer may be the agency, an umbrella company, or your own limited company. If you are self-employed you will have to file a self-assessment tax return with HMRC.
PAYE is affected by how much you earn over a year – if you earn over £12,570 in a financial year (6th April – 5th April), you will have to pay income tax. National Insurance (NI) contributions and student loan repayments are also deducted through PAYE, if applicable. The tax you pay on your income helps to fund public services – including the NHS – and is a mandatory legal responsibility.
Your holiday pay when working with Pulse
Important information you need to know about paid annual leave when working with Pulse.
Your pension when working with Pulse
When working with Pulse, you’ll automatically be enrolled as a member of The People’s Pension after 12 weeks. Find out more about saving for your retirement here.
New starter checklist
Before you commence work with us, you’ll need to complete a HMRC ‘new starter form’.
Umbrella companies
You can choose to be paid through an umbrella company – a business that acts as your employer by processing timesheets and taking care of tax deductions.
The umbrella company is responsible for paying the agency worker, after making the necessary NI and other deductions. They also take an amount as their charge for this service.
For further information on umbrella companies, please click on the below link or speak with your recruitment consultant.
Everything you need to know about Umbrella companiesPersonal services company
Another option is to set yourself up as a limited company, also known as a personal services company (PSC). The way in which Pulse would pay you into a limited company is dependent on the IR35 determination of the role. For more information of IR35 determination, click below.
Learn moreFor roles inside of IR35, payment will be made as a net amount into the limited company bank account after Pulse have made the relevant tax, National Insurance and other relevant deductions. In this scenario, as Pulse are completing your deductions, you would receive:
- Payslips for each payment, with all deductions clearly detailed
- P60 issued annually (where applicable)
- P45 issued at end of your working time with Pulse
For roles outside of IR35, payments will be made as a gross amount into the limited company bank account. You will be responsible for the deduction of tax and National Insurance by filing a tax return yourself or employing the services of an accountant to do this on your behalf.
