Our Payment Solutions
Umbrella PAYE Solutions
Includes Personal Accident, Employers Liability and Public Liability Insurances
Industry Leading Umbrella PAYE Solutions
Are you looking to work for yourself, but don't want to have to worry about looking after all the confusing paperwork? Here at Futurelink, we offer an umbrella solution which takes liability for all of your tax and National Insurance contributions, which are deducted before paying the worker.
Futurelink can help both workers and end-clients/agencies by helping to reduce tax liabilities and saving agencies and end clients on employment costs, while reducing time on administration.
There are many benefits for the worker and client company when using Futurelink’s Umbrella solution. Our management fee includes Personal Accident, Employers Liability and Public Liability Insurances for the worker.
We also provide the following:
An umbrella payment company acts as the employer, managing the freelancer’s or contract worker’s payments to assure they remain fully compliant, while helping them to pay less tax and national insurance.
The payroll company takes on full responsibility for paying the worker including taxes, holiday and sick pay. The Umbrella company also calculates and deducts all tax and national insurance from the workers’ pay while indemnifying the agency/client.
Wondering how would you benefit from using an umbrella payment company? Firstly, the umbrella company takes care of all invoicing, administration and processing worker payroll – saving time and money on employment costs and payroll administration.
Also, as the umbrella company we become the employer of the worker, we take away any compliance risks associated with tax & insurances so the end client/agency can focus on their core part of their business.
Wondering what is the process? Using an Umbrella company is pretty straight forward. This is how it works:
1. The worker registers with the Umbrella company.
2. The worker then engages with the end client, sometimes via a recruitment agency.
3. Hours and expenses are recorded and timesheets are submitted from the agency to the umbrella company.
4. Funds are sent from the agency to then umbrella companies bank account.
5. Tax and NI deductions are made by the umbrella company and the worker is paid.
Want to know more about our umbrella payment solution? Please call us on 01923 277900 or contact us to find out more.
Can’t decide which path to take? Let us break it down for you...
It can be tricky as a contract worker to choose which path to take since there are benefits for being employed and self-employed. Here at Futurelink, we can offer advice on which solution is the most suitable.
We will first determine the status of the worker by using an SDC (supervision, direction & control) questionnaire, which is a set of questions that help us decide whether the worker can be self-employed or not. If the worker should be employed, we look at further options, while still helping the worker to save on tax liabilities.
Where a worker is deemed supervised in some way, we will recommend a PAYE option and in doing so, Futurelink manages the worker’s tax and NI deductions before payment is made. A certain allowance is made for expenses that can be used to reduce tax and National Insurance, in line with HMRC guidelines.
However, if the worker passes Futurelink’s SDC questionnaire, we can offer either a Gross Payment, CIS Self-employed or limited company solution. For limited companies (or Personal Service Company), Futurelink Accountancy Services can assist in setting up a company and managing the company. All self-employed options require workers to pay their own national insurance & tax contributions and complete an end of year tax return (self-assessment).
Need any more information? Feel free to give us a call on 01923 277900 or contact us to find out more.