CORONAVIRUS (COVID-19) ADVICE

VIEW THE LATEST UPDATES HERE

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

DAILY CORONAVIRUS CASES FALL 10 PER CENT
Posted on: 30 Mar 2020 at 14:45:46
Daily coronavirus cases have dropped for the first time in weeks, according to the latest figures. Stocks rallied as the number of daily coronavirus cases fell 10 per cent on Sunday compared to the previous day.  However, the gains were not sustained and the FTSE 100 is down 0.87 per cent this...
PM ADDRESS TO THE NATION ON CORONAVIRUS
Posted on: 29 Mar 2020 at 13:54:18
The following is a transcript of the Prime Ministers speech, exactly as it was delivered. Good Evening, The coronavirus is the biggest threat this country has faced for decades – and this country is not alone. All over the world we are seeing the devastating impact of this invisible killer. An...
DEFERRAL OF VAT PAYMENTS AS A RESULT OF COVID-19
Posted on: 27 Mar 2020 at 16:45:41
The Chancellor announced a VAT payments deferral on 20 March to support businesses with cash flow during the COVID-19 pandemic.This means that all businesses with a UK VAT registration have the option to defer VAT payments due between 20 March and 3‌0‌‌ June.You therefore have until 3‌1‌‌ March 2021...
CITB SUSPENDS LEVY PAYMENTS
Posted on: 27 Mar 2020 at 16:02:13
The CITB has suspended the issue of its levy bills, due for payment in 2020, for an initial period of three months. The bills will subsequently be issued for the full year.The delay will provide immediate financial relief to construction employers during the coronavirus crisis, the CITB&nb...
THE BIG DIFFERENCE BETWEEN GENUINE SELF-EMPLOYED/PAYE CONTRACT FOR SERVICES PAYROLL AND UMBRELLA PAYROLL SCHEMES
Posted on: 27 Mar 2020 at 15:06:12
As and when the government are clearer on the process for Claiming a grant through the coronavirus (COVID-19) Self-employment Income Support Scheme, we will be on tap to assist all of our contractors and Temporary Workers.We are currently looking into how we can assist you all with this process whic...
HEALTH CHIEF'S DEMAND AS CORONAVIRUS MEASURES FOR SELF-EMPLOYED ANNOUNCED
Posted on: 27 Mar 2020 at 12:27:28
Tax reforms have already made 12,000 doctors leave the UK, says Secretary General of the Independent Health Professionals’ AssociationThe Secretary General of an association that represents thousands of health care professionals has demanded equal rights for equal tax, in response to Chancellor Rish...