Anyone had experience of a Joint share ownership plan in relation to an umbrella company.
I was recently asked by a contractor who has been employed by an umbrella company to help her understand her pay. On investigating her payslips and P60 it showed an amount of her weekly invoice value that was being deducted each week before her pay was calculated called ‘Company tax’. The pay after that then included a untaxed amount called ‘Company income’ After speaking to the umbrella company it turns out she is part of a JSOP scheme whereby she owns shares in a company in Ireland and receives a ‘Cash advance’ each week. Although this has not been detailed in any contracts that I have been given as part of this work (now requested). Apparently she is due a share statement and all the tax is dealt with but my concern is she could have a tax liability on this as it sounds very dodgy. I’ve read HMRC notices but none that I have found specifically mention JSOP.
Any tax experts out there that can help?