THE PARTNERSHIP

GENIUS MONEY PARTNERSHIP

We’re all about minimum risk and maximum income, and when it comes to contracting - we really know our stuff. We make it our mission to stay ahead of the competition, protect our workers and clients and create meaningful long term relationship where everyone benefits.

We were initially formed off of the back of a 20 year stint in Contractor trades and labour Recruitment. This means that we are experts in the provision of Contractors to the market and are even better at the Employment Law and Contractual rules and regulations side of personnel.

It also means that we fully understand the importance of getting the invoicing and more importantly the pay right every time every week.

This experience also enables us to only operate a self employed process and not the tax avoidance schemes such as Umbrella that most Payroll companies offer.

We are HMRC approved for the supply to the Construction Industry Scheme (CIS) and have direct verification links with them for all trades and companies.

For us, great customer service means being able to contact a knowledgeable team of people, who understand the self-employed industry, in whatever way works for you. We offer a 24/7 access to key information, with a speedy response and a single, dedicated point of contact.

The main aim of this Partnership is to ensure that every end user Client is operating in line with the rules and regulations of HMRC when utilising a self-employed worker. But the Partnership goes a few steps further than this.

The partnership has a direct membership to the REC which is the Recruitment industries governing body, The Recruitment & Employment Confederation. This means that all contracts in place are legally verified with a strong focus on the Employment Law and compliance aspects, outlined by the HMRC.

The end user Client will be provided services on a Contracts for Services basis. All labour is ordered and provided under these terms of business resulting in any HMRC enquiries or investigation falling on the partnership, and not the end user Client.

The processes that the partnership will undertake on all labour:

  • All labour onsite will be verified to work Self-Employed direct with the HMRC.
  • All labour will have their tax status verified direct with the HMRC.
  • All labour will go through a Supervision an Direction compliance test, in line with the HMRC IR35 regulations.
  • All labour will be checked in line with the Right to Work rules and regulations stipulated by the HMRC and relevant ID obtained.
  • All labour will be paid on a weekly basis, receiving a text notification ofthe payment amount.
Additional services on offer
  • Online client portal for all payment instructions
  • All Contractors are covered on the Partnerships Public & Employers Liability and Personal Accident Insurance
  • Payment terms can be offered dependant on credit facility and admin/finance charge
  • End of year tax returns completed on behalf of self employed contractors
  • Discounted Recruitment services for all trades & labour, back office/support staff and senior supervision & management positions if needed
  • All pay and tax queries now become the responsibility of the Partnership
  • Bonus Scheme for the referral of new clients

THE PAYROLL PROCESS

Genius Money - Typical On-boarding Time Line

LATEST NEWS

CONSTRUCTION WORKER WINS IR35 TAX APPEAL AS COURT FINDS HE WAS NOT ‘TREATED AS AN EMPLOYEE’
Posted on: 24 Jan 2020 at 10:09:18
A contractor in the construction industry has successfully appealed an HMRC ruling that he was an employee, after a first-tier tribunal found he was not employed for IR35 tax purposes – prompting experts to warn about ‘complex’ IR35 cases increasingly being brought before the courts. ...
STATUTORY PAYMENTS WELCOME A NEW ELEMENT OF PAY AND LEAVE
Posted on: 23 Jan 2020 at 20:20:58
Samantha Mann looks at the subject of parental bereavement, a new statutory period of leave and pay that is due to go live from April 2020.22nd Jan 2020First introduced as a Private Members Bill back in 2017, the Parental Bereavement (Leave and Pay) Act 2018 became law in September 2018 and it...
COALITION OF RECRUITERS ASK CHANCELLOR TO PUSH BACK IR35 TO 2021
Posted on: 22 Jan 2020 at 15:47:51
A joint letter from the Recruitment and Employment Confederation (REC) and 14 UK recruiters has been sent to Sajid Javid stating that the limited review of IR35 currently in process will not achieve much change and to delay the implementation until 2021.The letter sent to Sajid Javid, Chancellor of...
IR35 POLL RESULT – CONTRACTORS WILL DUMP CLIENTS ISSUING PSC BLANKET BANS
Posted on: 16 Jan 2020 at 11:20:01
IR35 Poll ResultThe ITContractor.com IR35 poll result shows that a vast majority of UK contractors plan to dump their clients if the client issues a blanket ban on contractors who use personal service companies.If this happens then the Government massive gamble that they would meekly accept the IR35...
OFF-PAYROLL WORKING RULES FROM APRIL 2020: FACTSHEET UPDATE
Posted on: 13 Jan 2020 at 10:49:07
The HMRC have released an update to the off payroll working rules.To increase compliance with the existing off-payroll working rules (IR35), medium and large organisations in all sectors of the economy will become responsible for assessing an individual’s employment status and determining whether th...
NO COMPANY CAR TAX ON ELECTRIC VEHICLES, SAYS GOVERNMENT
Posted on: 13 Jan 2020 at 10:04:49
The Government says that company car drivers choosing a pure electric vehicle will pay no benefit-in-kind (BIK) tax in 2020/21.In its long-awaited response to its review of WLTP and vehicle taxes, to which Fleet News is listed as a respondent, HM Treasury has binned the previously pub...