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 Construction trades and labour Recruitment. This means that we are experts in the provision of Contractors to the Construction and Building Services 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 CIS 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

NHS BOSS: TAX BILLS COULD MEAN 'LOSS OF 60 DOCTORS'
Posted on: 22 Jul 2019 at 10:47:09
A major NHS trust could lose the equivalent of 60 consultants because of doctors' refusal to work overtime, its chief executive fears.Dr David Rosser, of University Hospitals Birmingham, said pension tax changes mean consultants fear extra earnings will trigger large bills.One senior doctor covered...
RULES FOR OFF-PAYROLL WORKING FROM APRIL 2020
Posted on: 22 Jul 2019 at 10:44:32
It has now been two weeks since the HMRC published the Off Payroll Working Rules that will apply to the Private sector as of April 2020.If your company is classed by the HMRC as a medium to large business, it is time to get some serious advice on what you should be doing NOW if you are engaging Cont...
2 FURTHER SUICIDES LINKED WITH THE LOAN CHARGE
Posted on: 08 Jul 2019 at 14:42:19
Real shame to be reading this Tweet over the weekend.So sorry to have to announce we’ve been informed of 2 further suicides of people facing the #LoanCharge. @HMRCgovuk @hmtreasury have been warned about the suicide risk for a year yet refuse to suspend the #LoanCharge. @theresa_may @Jesse_Norman @B...
CROOKED CONSTRUCTION BOOKKEEPER JAILED FOR THREE YEARS
Posted on: 08 Jul 2019 at 08:22:07
A woman who together with her daughter stole £100,000 from a Cambridgeshire cladding contractor has been jailed for more than three years.Hayter will be the subject of a Proceeds of Crime Act hearing next weekNicola Hayter, of Ely, worked as a bookkeeper for construction company Retrofit UK from 200...
MAKE LATE PAYMENT AFTER AGREED TERMS IN CONSTRUCTION A CRIME & SUBJECT TO A FINE
Posted on: 25 Jun 2019 at 11:18:05
A Construction Agency called Lionheart Group and have been on the receiving end of bad/late payers on a number of occasions and have started this Petition.What are you thoughts? Do you agree or do you not? Have you been on the end of a client not paying and as a result experiencing a loss?https://pe...
TAX GAP REMAINS LOW
Posted on: 20 Jun 2019 at 14:28:22
The Tax Gap for 2017/2018 is 5.6%, HM Revenue and Customs (HMRC) confirmed today.This means that HMRC collected 94.4% of all the tax due under the law in 2017/2018. Overall, the tax gap has fallen from 7.2% since 2005/2006.The tax gap is the difference between the amount of tax that should, in theor...