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

TSB GEARS UP FOR SELF-EMPLOYED MORTGAGE REVAMP
Posted on: 06 Nov 2019 at 13:35:57
TSB is “looking at a number of initiatives” to help more self-employed and contract workers to get on the housing ladder, Mortgage Solutions can reveal.The high street bank currently asks self-employed borrowers to provide income details for the last three years, ruling out the newly self-employed e...
HOUSE BUILDING IN A ‘DITCH’ WITH OTHER CONSTRUCTION SEGMENTS, SAYS CIPS
Posted on: 06 Nov 2019 at 11:20:01
UK house building is among the construction segments to have fallen into a “ditch” in October, the Chartered Institute of Procurement and Supply (CIPS) has said.The body’s monthly market index highlighted house building as among the worst-performing segments, alongside civil engineering and commerci...
STAFFORDSHIRE PUB DECORATED WITH GIANT POPPIES BY PATRIOTIC PUNTERS FOR REMEMBRANCE DAY
Posted on: 31 Oct 2019 at 15:25:53
The 28-year-old, who took over the pub in Kingsley Holt, Staffs, last year, painted poppies on the outsideA patriotic landlady swapped pints for paint brushes to decorate the outside of her boozer with giant poppies ahead of Remembrance Day.Pub landlord Danni Molloy decided to give The Blacksmith Ar...
BUSINESS URGES DELAY TO TAX CHANGES AFFECTING TEMPORARY WORKERS
Posted on: 31 Oct 2019 at 14:39:30
‘A third of companies who regularly use contractors are completely unaware of the upcoming IR35 reforms from April 2020, new research shows.’The taxation institute is calling for a 1 year delay given November Budget is cancelled, no legislation yet and a few other things going on. It’s a compelling...
NHS DIGITAL HIT WITH £4.3M TAX BILL AFTER RELIANCE ON FAULTY CEST
Posted on: 30 Oct 2019 at 16:53:52
NHS Digital is facing a £4.3m tax bill after HMRC challenged a significant number of IR35 status assessments conducted by its very own Check Employment Status for Tax (CEST) tool.The tax bill, which includes interest and penalties, covers the period from 1 April 2017 to 31 December 2018, and wa...
GOVERNMENT RESPONDED TO “STOP IR35 ROLL-OUT IN 2020 IN PRIVATE SECTOR - DUE TO UNCERTAINTY AROUND BREXIT”
Posted on: 30 Oct 2019 at 13:43:50
The Government has responded to the recent petition signed by over 14,000 people – “Stop IR35 roll-out in 2020 in private sector - due to uncertainty around Brexit”.The Government said;The Government remains committed to reforming the off-payroll working rules from April 2020. Businesses have had 18...