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

DOMESTIC REVERSE CHARGE VAT FOR CONSTRUCTION SERVICES - DELAY IN IMPLEMENTATION
Posted on: 10 Sep 2019 at 15:38:22
Revenue and Customs Brief 10 (2019): domestic reverse charge VAT for construction services - delay in implementation1. Purpose of this briefThis brief explains that the introduction of the domestic reverse charge for construction services will be delayed for a period of 12 months until 1 Octobe...
YOUR VAT RETURN AND MAKING TAX DIGITAL
Posted on: 10 Sep 2019 at 12:20:18
Support from HMRCMost VAT-registered businesses with a taxable turnover above £85,000 now need to submit their VAT returns using Making Tax Digital compatible software. HMRC can help you get ready with live webinars and short videos.The HMRC are running a number of Webinars to assist anyone wanting...
ANOTHER VICTORY NOTCHED UP AGAINST THE TAXMAN BY RADIO PRESENTER
Posted on: 04 Sep 2019 at 11:02:43
HMRC has lost another high profile IR35 tribunal case after radio presenter and comedy writer Paul Hawksbee successfully challenged a deemed tax bill of roughly £140,000.The tribunal reached its decision by the casting vote of Judge Thomas Scott, having considered an engagement between Hawksbee’s li...
DIGGER DRIVER ADMITS DESTROYING HOTEL LOBBY IN PAY ROW
Posted on: 03 Sep 2019 at 08:01:39
We all remember this lad!!!A digger driver told Liverpool Crown Court he used his machine to wreck the reception of a Travelodge hotel following a pay dispute.The BBC reported John Manley,35, pleaded guilty to damaging property and being wreckless as to whether life was endangered.Manley w...
COULD YOUR END CLIENT BE NEXT ON THE LIST FOR HMRC?
Posted on: 02 Sep 2019 at 14:43:42
Great article by Thomas Wallace from WTT.Why GSK?It wasn’t long ago that all HMRC enquiries took the form of individual Compliance Checks, where an officer of HMRC would write to you, hold a meeting with you, review your records and reach a conclusion (not always right) based on all of this, or evid...
HARVEY NASH IR35 SURVEY 2019
Posted on: 02 Sep 2019 at 10:32:25
Harvey Nash are undertaking their third IR35 survey.To participate as a Contractor or Business that uses Contractors, clink to the link below.Interesting stats;https://www.linkedin.com/pulse/please-take-part-our-3rd-ir35-survey-colin-morley/?trackingId=85arxpBz%2BnddlhbJQHGtsw%3D%3D