Services
Umbrella
What is an Umbrella Company?
An umbrella company acts as an employer for contractors working on temporary assignments, often through recruitment agencies. Contractors submit timesheets to the umbrella company, which then invoices the recruitment agency or client. The umbrella company processes payroll, deducts taxes and national insurance contributions, and pays the contractor their net salary.
Key Features of Umbrella Companies:
Employment Status: Contractors are legally employed by the umbrella company, providing them with employment rights like sick pay and holiday pay.
Simplified Administration: Contractors only need to submit timesheets, while the umbrella company handles taxes and compliance.
Fixed Fee: Contractors typically pay a fixed fee for the services of the umbrella company.
Ideal For: Freelancers and contractors working on short-term projects who want to avoid managing their own payroll and taxes.
Benefits of Using an Umbrella Company:
Compliance and Security: Ensures compliance with tax laws and regulations, reducing the risk of errors.
Employee Benefits: Provides access to statutory employee benefits.
Ease of Transition: Easy to switch between assignments without changing payroll arrangements.
Services
PEO
What is PEO?
A Professional Employer Organisation (PEO) is a company that provides comprehensive HR solutions for businesses. When a company partners with a PEO, they enter into a co-employment agreement, where the PEO becomes the employer of record for tax purposes, while the client company retains control over day-to-day business operations and decisions.
Key Features of PEOs:
Co-Employment Model: The PEO handles HR responsibilities such as payroll, benefits administration, and compliance.
Comprehensive HR Services: Offers a range of services including recruiting, risk management, and training.
Scalability: Allows businesses to scale operations quickly by providing infrastructure support.
Ideal For: Small to medium-sized businesses looking to expand or improve HR capabilities without building an in-house team.
Benefits of Using a PEO:
Cost-Effective: Reduces the cost of HR functions and employee benefits through economies of scale.
Regulatory Compliance: Keeps businesses compliant with labour laws and regulations, which can be especially beneficial when operating in multiple states or countries.
Enhanced Employee Benefits: Access to high-quality benefits packages typically available to larger companies.
Services
CIS
What is the Construction Industry Scheme (CIS)?
The Construction Industry Scheme (CIS) is a UK government initiative designed to minimise tax evasion in the construction sector by regulating payments from contractors to subcontractors. Under CIS, contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). These deductions count as advance payments towards the subcontractor’s tax and National Insurance contributions.
Key Features of CIS:
- Deductions: Standard deductions are 20% for registered subcontractors and 30% for those not registered with HMRC.
- Registration: Subcontractors must register with HMRC to qualify for the lower deduction rate.
- Monthly Returns: Contractors must submit monthly CIS returns detailing payments and deductions to HMRC.
- Scope: Applies to construction work such as site preparation, alterations, dismantling, and repairs.
Benefits of CIS:
- Compliance: Ensures tax compliance and reduces the risk of penalties.
- Cash Flow Management: Allows contractors to manage cash flow by accounting for tax liabilities in real-time.
Services
Protect
Understanding IR35 and its Implications
IR35 is a tax legislation designed to determine whether a contractor is genuinely self-employed or operating as a “disguised employee” to avoid paying employee taxes. Working “outside IR35” means that HMRC recognizes the contractor as genuinely self-employed, allowing them to operate through their limited company and receive income as dividends.
Determining IR35 Status:
Factors considered include:
- Control: The level of control the client has over how, when, and where the contractor works.
- Substitution: The contractor’s ability to send a substitute to complete the work.
- Mutuality of Obligation: The client’s obligation to offer work and the contractor’s obligation to accept it.
We carry out an IR35 Review of the assignment to determine the contractors status.
Services
Accountancy Services
Key Accountancy Services Offered:
- Bookkeeping: Accurate and timely recording of financial transactions to ensure up-to-date financial statements and reports.
- Tax Preparation and Planning: Expertise in preparing and filing tax returns while maximising deductions and ensuring compliance with tax regulations.
- Payroll Services: Management of employee payroll, including processing paychecks, withholding taxes, and maintaining payroll records.
- Financial Reporting: Preparation of detailed financial statements and reports to provide insights into business performance and support decision-making.
- Audit and Assurance: Conducting audits and providing assurance services to ensure accuracy and compliance with financial regulations.
Benefits of Our Accountancy Services:
- Expertise and Accuracy: Our team of experienced accountants ensures precise financial management and compliance.
- Time-Saving: By outsourcing your accounting needs, you can focus on strategic business activities.
- Cost-Effective: Reduce overhead costs associated with hiring in-house accounting staff.
- Improved Decision-Making: Gain access to comprehensive financial data and analysis for informed decision-making.
Services
Back Office Services
Key Back Office Services Offered:
- Data Entry and Management: Accurate entry, processing, and management of business data to support various functions.
- Document Management: Organisation and maintenance of important documents, ensuring easy access and security.
- Customer Support: Providing customer support services to enhance customer satisfaction and retention.
- Human Resources Administration: Management of HR tasks such as employee onboarding, record-keeping, and benefits administration.
- IT Support: Offering technical support and solutions to maintain and improve your IT infrastructure.
Benefits of Our Back Office Services:
- Enhanced Efficiency: Streamline administrative tasks and improve operational efficiency.
- Scalability: Easily scale operations up or down based on business needs without the burden of managing additional staff.
- Focus on Core Business: Allow your team to focus on strategic initiatives by offloading routine tasks.
- Access to Technology: Leverage our advanced technology and systems for optimal business operations.
Why Choose Us?
Choosing the right partner for your accountancy and back-office services can make a significant difference in your business’s success. Here’s why you should choose us:
- Tailored Solutions: We offer customised solutions to meet the specific needs of your business.
- Experienced Team: Our professionals have extensive experience across various industries.
- Proactive Approach: We proactively identify opportunities for improvement and efficiency.
- Commitment to Quality: We are committed to delivering high-quality services and exceeding client expectations.
