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Posted : 19 May 2020 at 14:10:33
Category: Important Announcement

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The Genius Money team is proud to state that due to our experience and as a result the way that we are contractually set up, this has resulted in nearly every Temporary Worker and Contractor that we work for qualifying for the Furlough payments set out and offered by the HMRC.

The Genius team even went a few steps further by administrating the process to acceptance on behalf of all of our Contractors, contacting them to inform them of the result and informing them of the day that they could start the application.

As a Payroll Company, Genius DO NOT offer the Umbrella Process. We are strong believers that the Umbrella Process is not a genuine or ethical process for Temporary Workers and Contractors, and that reputable Payroll Companies in the UK should not be offering this process.

It is one of the main causes for Temporary Workers and Contractors not receiving their Furlough payments in the current climate and it is also contributing to Payroll Companies that are doing it right, getting a bad name.

Recruitment Agencies are the main promoters of these schemes as they have to report any Self-Employed engagements and payments to the HMRC via the Intermediaries process. This brings to the attention of the HMRC what the Agency is doing and who with, which on an HMRC audit will show that they are not engaging the approved solutions available.

The Umbrella Process gives the Agency the ability to apply a PAYE badge to the worker even though this is only being applied to a very small proportion of the rate/salary. As a result, this means that the Recruitment Agency and Payroll Company do not need to report the worker's earnings to the HMRC on quarterly Intermediaries reports.

Payroll Companies, in general, are now receiving a bad write up on the Internet, mainly due to the way that some of them operate. We hope that this unfortunate situation enables the Umbrella Process to be seriously looked at with a view to being stopped. The worker is always the one that suffers!

Workers remuneration and their HMRC Compliance should be at the forefront of every Payroll Business, this is who we work for after all.

 

GENIUS SERVICES

Genius PAYE

Temporary Workers who are on a PAYE contract with Genius are 100% PAYE for all of the wage, be it hourly, daily or weekly. This comes with a minimum 28 days holiday pay that is retained and paid out when the holiday has been requested and authorised, SSP, Maternity/Paternity and every other PAYE right and benefit.

Genius Self-Employed

Self-Employed services allow Contractors who wish to supply their services on a temporary basis the ability to be stringently checked and approved via our inhouse IR35 testing system which includes contractors operating within the CIS sector. Contractors and Companies using the services of Contractors have the peace of mind that all contracts and associated skill-testing processes are in place in line with the HMRC regulations.

Genius Contracts

Companies looking for Labour and Project Managed Services, Genius offer a recruitment solution for the skills required, and on assessing the requirement, can offer the correct solution, either PAYE of Self-Employed.

For more information please get in touch with our team on 0330 0335 0400

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