TESTIMONIALS & CASE STUDIES
The payroll world is full of companies who over-promise and under-deliver. Once you experience our service you will quickly discover the Genius Team deliver exactly what we promise as the following testimonials show.
Electrical Services Company
What can I say, when we were inspected by the HMRC we had a massive issue to deal with that could of threatened IPS continuing to trade. Although we were aware of the waves that the Revenue were making about inspecting companies for IR25 we never in a million years though we would be one that would be targeted .
The key reason for engaging the services of Genius Money Limited was that it took this issue away from us with immediate effect and offered a legal and practical solution to our business needs.
They took away all the employment liability and associated headaches that we had with engaging a self-employed workforce, and in addition assisted us with attractive payment terms and payroll support to enable us to reinvest both the time and money in growing our business .
They were also able to provide us with a steady stream of quality electrical trades via V3 as and when we needed them to enable us to cope with the various client works we had comping up.
Genius, a solution that came at the right time for IPS and one that we truly could not have continued to trade without.
We have worked with Genius Money for 3 years. We had previously worked with the Sales Director Dwayne for a number of years previously and moved to Genius when he did.
Genius are definitely a more professional company than our previous provider. The team at Genius are very helpful and always go that extra mile to make my job easier.
Nothing is too much trouble and everything is dealt with promptly and efficiently.
The greatest benefit of using Genius Money is their professionalism, the easy set up for new contractors and not having to worry about compliance as Genius takes care of everything for you.
We would absolutely recommend Genius Money!
We have been working with Genius Money since October 2019, we chose to use Genius Money as their approach and offering is clear and concise without using any “so called jargon” . We would certainly recommend using Genius Money to other companies within the industry as I find the team to be friendly, professional and always ready to help with any queries raised. Using Genius Money saves time each month and keeps us HMRC compliant.
I moved over to Genius Money due to the concerns I had around the genuine level of protection that I was receiving from my provider.
Too many providers promise the earth but the reality is far from this, I never actually met any of them throughout my time as their client.
Fast forward to Genius Money it’s a totally different service. I have regular contact with the team and I am confident that they offer me and my business the level of protection I need with regards to IR35 and the HMRC.
Everything they do is transparent, the model they provide is clear and I can focus on running my business as they have everything else in hand.
Over the past few years we have engaged with roughly 6 different payroll companies in an attempt to find the right solution for our business whilst ensuring compliance with the minefield that is employment legislation.
Unfortunately, during this time we have had some really poor experiences. We were promised brilliant SDC procedures to maintain compliance which were never implemented, given assurances that any tax liabilities would be indemnified which was completely untrue. We’ve been subjected to HMRC investigations lasting years which has consumed endless hours of staff time and cost thousands to handle.
The only silver lining from all the grief from these previous payroll companies is that we learnt a lot of lessons on due diligence which has improved our processes. This however, meant that when we were initially approached by Genius who were offering payroll solutions, we were extremely wary and resistant to the proposal of any meetings or discussions.
Once we eventually began to engage with Genius, they provided all the information we requested to give us the comfort that we were dealing with a professional business who were keen to help us.
After the initial meetings, Genius conducted a full workforce review to help identify any areas of risk and proposed solutions to negate this. Their team were so helpful as they educated us throughout the process, and also told us what was and more importantly wasn't’t possible, rather than turning a blind eye and leaving us at risk as previous companies had done.
Our relationship with Genius has really restored our faith in outsourcing payroll. They’ve continued to communicate with us throughout the recent changes in the off-payroll regulations and helped us implement processes for status determination statements which we now use to manage our whole supply chain.
Industrial Power Solutions Ltd
Industrial Power Solutions Ltd was founded in 2003 and its core business is providing installations and project programme delivery to the HV Energy Cable Systems and LV Mains Cabling sector.
In 2012 IPS was inspected by the HMRC and was deemed to be 'disguising the employment status' of its core contract workforce of 25 + electrical trades by engaging with them on a self-employed basis rather than PAYE.
The outcome was an original fine of £250,000, roughly £10k per head which after considerations and negotiations with the HMRC was reduced to £90,000.
For obvious reasons the fall out of the fine had a considerable financial and operational impact on the business and a solution had to be sourced to enable IPS to continue trading.
Shortly after in late 2012 IPS entered into discussions with Genius with regards to finding a payroll and contract trades staffing solution.
Due to the labour costs already committed to it was imperative that the CIS trades that were engaged by IPS could be transferred to a solution that could continue to legally engage their future contractors on a Self-Employed basis where possible.
Furthermore, the solution had to be able to add skilled M&E Trades to IPS to further support various projects throughout the fiscal year.
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