Industry Leading Umbrella PAYE Solution

Umbrella payment solutions are a type of financial service offered by payroll companies that act as the employer for freelance and contract workers. The payroll company takes on complete responsibility for paying the worker, covering various aspects like taxes, holiday pay, and sick pay. These service providers such as the Futurelink Group, ensure full compliance while minimising tax and National Insurance (NI) liabilities, leaving workers with higher take-home pay.

Our solutions ensure compliance with complex regulations, streamline payroll processes, alleviate administrative burdens, and ensure timely and accurate payments. Ultimately, we support workers across various sectors by managing tax obligations and accounting responsibilities, while offering indemnification to agencies and end clients.

Wondering how you could benefit from using an umbrella payment company?

An umbrella company takes care of all invoicing, administration, and processing of worker payroll, saving clients time and money on employment costs and payroll administration. In addition, as the umbrella company, we become the employer of the worker. This makes us responsible for removing any compliance risks associated with tax and insurance, allowing the end client to focus on the core part of their business.

Futurelink offers a centralised platform to ensure compliance with complex tax laws, regulations, and employment requirements. We streamline payroll processes, reducing any administrative burden and ensuring accurate and timely payment while managing tax obligations.

Using an Umbrella company is pretty straightforward. This is how it works:

1. The worker registers with the Umbrella company.
2. The worker then engages with the end client, sometimes via a recruitment agency.
3. Hours and expenses are recorded, and timesheets are submitted from the agency to the Umbrella company.
4. Funds are sent from the agency to the Umbrella company’s bank account.
5. Tax and NI deductions are made by the Umbrella company and the worker is paid.

Want to know more about our Umbrella Payment Solutions? Please call us on 01923 277900 or contact us to find out more.

Can’t decide which path to take? Let us break it down for you…

It can be tricky for a contract worker to choose which path to take since there are benefits to being both employed and self-employed. Here at Futurelink, we can offer advice on which solution is the most suitable.

We will first determine the status of the worker by using an SDC (supervision, direction, and control) questionnaire. This is a set of questions that help us decide whether the worker can be self-employed or not. Should the worker require employed status, our team is ready to explore additional avenues while continuing to assist in reducing their tax liabilities.

Where a worker is deemed supervised in some capacity, we recommend a PAYE option. In doing so, Futurelink manages the worker’s tax and NI deductions before any payment is processed. Moreover, we provide an allowance for expenses that align with HMRC guidelines, serving to reduce tax and NI, and increase take-home pay. 

When a worker passes Futurelink’s SDC questionnaire, we can offer either a Gross Payment, CIS Self-employed, or Limited Company solution. For Limited Companies (or Personal Service Companies), Futurelink Accountancy Services can assist in setting up and managing a business. All self-employed options require workers to pay their own NI and tax contributions, and an end-of-year tax return (self-assessment) must be completed.

Need any more information? Feel free to give us a call at 01923 277900 or contact us to find out more.