Agency Related Questions

Can I work through different agencies?
Yes, you are able to work through any number of agencies and you can change or add agencies at any time. If, for example, your Contract ends and you get a new assignment through a new agency you can continue to work through Key Portfolio. However, this may change your payment day. Our Client Care Team can advise you.

What do I do if I start to work through a new agency?
In order to add a new agency, you need to send the request by post, email to addingagencies@mykeypay.com / portfolio@mykeypay.com or send a request by fax to 0845 371 0304. You need to include your name, Key Reference Number, your consultant’s name and contact number and the name of the agency.

Does my agency use Key?
We can easily check and if your agency is not currently on our list of partners we will contact them and take them through the process of working with us. Once everything is in place we will let you know and advise you if there are any changes to your payment day.

When will I get paid?
Your pay cycle depends on the agency that you work for and whether they operate a weekly, fortnightly or monthly payroll. Your pay will be transferred directly to your designated bank or building society account to appear on the 3rd working day following the date that we receive funds. For example if we receive cleared funds on a Wednesday we process your pay and send it to your bank account to arrive by the Friday.

Expenses

How will I know that you have received my expense claims?
Your expenses appear on your payslip. You can check these at any time using our online member login from our website at mykeypay.com or you can call us or email us to check. Emails should be sent toportfolio@mykeypay.com and calls should be made to the Client Care Team on 0845 371 0303.

Why do you need receipts for some expenses and not others?
The expenses that do not require receipts have been approved by HMRC and therefore are detailed as a set amount under certain qualifying conditions, for example, to claim £5 for breakfast you must leave home before 7am and purchase breakfast. For expenses where qualifying conditions have not been set, we require original receipts to verify the exact amounts being claimed.

Why have you not taken all my expenses into account when you processed my last pay?
We ensure compliance with the National Minimum Wage requirements, so there is a maximum amount that we can offset against any one pay. The formula we use to calculate this amount is:

Number of days worked x Minimum wage x Standard hours per day

Any expenses that are not used against that pay will be automatically carried over and will be offset against your next pay.

Finally, if we do not receive your expenses on time they will not be offset as your payment will already have been processed.

What’s the deadline for submitting claims?
If you are paid weekly through one agency you need to submit your completed Expense Claim Forms with the relevant receipts to us to arrive by the Tuesday before your pay day on Friday.

If you are working through more than one agency you need to send in your claims to us by the Thursday before your pay day on Tuesday.

 

Payslip

Will I receive a payslip?
Yes, you can receive an email payslip each time Key processes your pay including any allowable expenses or you can login to your online account and view and download your payslips at any time.

I don’t understand my payslip. Can you explain it to me?
Yes, call the Client Care Team on 0845 371 0303 anytime between 9am-5.30pm. We will be happy to talk you through any questions you may have.

Why is holiday pay not shown on my payslip?
For the majority of contractors holiday pay is ‘rolled up’ and therefore included in your rate of pay which in essence is a pre-payment of paid annual leave. This is referred to in your Contract of Employment. However, additional holiday pay may be accrued through your agency and this is something you should agree with your agency directly.

I don’t understand my tax code. What does it mean?
Your tax code determines the amount of tax free allowance that you have for that year. If your tax code is, for example, 603L this means that you have a tax free allowance of £6,035. Here is a link to the explanation on the HMRC website http://www.hmrc.gov.uk/incometax/codes-basics.htm

 

Tax

Why do I have to pay Employer’s and Employee National Insurance?
If you were paid under a regular PAYE system in the past you will notice a new deduction for Employer’s NI on your Key Portfolio payslip. Key Portfolio is an Umbrella Company and has specific features and payment processing practices that differ from those of your agency. Indeed, we work for you not for your agency and charge you a fee for processing your income not for paying you. We are providing you with a service that enables you to offset legitimate business expenses against income resulting in you receiving a greater take-home pay than under regular PAYE as operated by your agency. We also ensure that your payroll tax affairs are up to date and payment has been made to HMRC of income tax and NI.

To be able to take advantage of increased take-home pay through any umbrella solution Employer’s NI has to be treated differently. Although this becomes an additional cost you should still receive an increase in your take-home pay compared to PAYE.

How do I apply for a National Insurance Number?
Simply call the Jobcentre Plus National Insurance Number Allocation Service on 0845 600 0643 between 8amand 8.30pm, Monday to Friday. You will receive a date for an interview and you will be told what information you are required to bring along.

Why do I need a National Insurance Number?
National Insurance refers to social security contributions made to HM Revenue & Customs and your National Insurance Number is used as your reference for the whole social security system. If you do not have a NINO this can affect your contributions records, delay payments of state benefits and possibly result in further expense to resolve the situation. Everyone who works in the UK and earns in excess of the threshold must make National Insurance contributions.