REMIT will sit between the recruitment company and the contractors PSC. This allows REMIT to remove all the risks and liabilities proposed by the changes from the recruitment company or engager.
By removing the risks from the third parties REMIT will be able to take make expert decisions based on the facts of each assignment and ensure compliance to the new rules.
The finer points are yet to be decide as this can only happen once the legislation is released on 5th December although workers in the sector can be confident that Professional Passport will be in a position to help and support all those workers affected.
To ensure you receive updates on this new service please ensure you have registered to receive our Newsletters and these will keep you fully informed.
Using REMIT will be a simple 6 step process for workers operating within the public sector and affected by the new rules.
1. Contractors will engage REMIT to act on their behalf and receive payments from either the end clients or recruitment companies. This is the critical step as it removes all the risks of liabilities from the end client or recruitment company and passes the responsibility to REMIT.
2. Contractors will provide REMIT's bank details to the end client or recruitment company for the payment of all monies relating to their assignments.
3. REMIT will assess the status of each assignment and confirm this to the contractor.
4. When cleared funds are received REMIT will process the payments in line with the assignment status and legislative requirements.
5. REMIT will charge a small per transaction fee for the service.
6. A full transaction report will be sent electronically to the contractor so that their accounting software can be kept fully up to date.
Final details will be confirmed once we have reviewed and assessed the legislation which is due to be released on 5th December.