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

CONSULTATION MARCH 2019 OFF-PAYROLL WORKING RULES FROM APRIL 2020
Posted on: 18 Mar 2019 at 09:22:35
On 5th March 2019, HMRC published the consultation document ‘Off-payroll working rules from April 2020’. The consultation seeks to refine the operation of the off-payroll rules prior to implementation into the private sector from April 2020.KEY POINTS FROM THE CONSULTATIONNo groundbreaking changes w...
INTERSERVE GOES INTO ADMINISTRATION AFTER RESCUE DEAL REJECTED
Posted on: 18 Mar 2019 at 09:12:14
Interserve has government contracts to clean hospitals. Photograph: Christopher Thomond/The GuardianThe government contractor Interserve has gone into administration after its largest shareholder, the US hedge fund Coltrane, led a rebellion against financial rescue plans drawn up by the co...
HMRC LOSES £100K IR35 ENQUIRY IN ANOTHER STORY OF TAXMAN’S APPROACH TO COMPLIANCE
Posted on: 20 Feb 2019 at 10:18:35
With many of us looking ahead to what HMRC has in store for the roll-out of private sector IR35 reform next year, you could be forgiven for not noticing the current behaviour of the taxman. But it was again brought into sharp focus this month in a disturbing case of a needless IR35 enquiry, del...
BILLIONAIRE KEN GRIFFIN PAYS RECORD $238M FOR MANHATTAN APARTMENT
Posted on: 19 Feb 2019 at 17:15:11
A Manhattan apartment has just been sold for $238m (£183m) - the most expensive home ever sold in the US.The property, in the luxury 220 Central Park South building, has four floors and - naturally - overlooks the famous New York park.The buyer is billionaire Ken Griffin, founder of the hedge fund C...
NOT ENOUGH NEW HOMES
Posted on: 19 Feb 2019 at 17:05:37
A report from the National Audit Office shows that the government is unlikely to meet its plan for 300,000 new homes a year by the mid 2020s.Aileen Murphie of the NAO told BBC Radio 4's Today Programme that the target will not be met unless the "planning system works better than it is at the moment"...
CONSTRUCTION SECTOR FALTERS AS RECESSION FEARS LOOM!
Posted on: 19 Feb 2019 at 17:02:24
Growth in the construction sector softened to its lowest level in 10 months in January, with experts predicting the industry could slip into recession soon if the UK leaves the EU without a deal.The purchasing managers’ index (PMI), a measure of business activity and confidence, slipped to 50.6 in J...