A Fresh Approach to Contracting

  • Thursday Payday
  • Anytime wages
  • Employed Status (umbrella workers)
  • Fully insured and HMRC Compliant
  • Refer friends and earn up to £625!
  • Employee Benefits
  • Loyalty rewarded by offering discounts and perks across hundreds of retailers

Accountancy Partners provide a fresh new approach to Commercial Contracting.

Our aim is to ensure we give the best possible customer care, ensuring ALL of our Contractors are paid accurately and on time. In addition, we also provide a BEST in class benefits package, available to all workers.

For Contractors working on certain contracts, we are able to pay on a THURSDAY, rather than our competitors who pay contractors on a Friday.

If you are an independent Contractor or if you are working through a Recruitment Agency, then we will have a solution for you. As one of our Contractors you will be able to utilise one of our Contracting Solutions depending on the circumstances surrounding your assignment.

The solutions are UMBRELLA or CIS Self-Employed. We will happily talk you through each solution with you, and help you decide which solution best suits your contracting situation.

CIS is for construction workers operating under CIS payroll and Umbrella suits workers in all other industry sectors, whether being engaged directly by the end user, or through an Employment Business. In order to determine approximate take home pay, we will need to assess your circumstances and details of the assignment. Factors we need to consider are rate of pay, travel to work, reimbursable expenses, average anticipated hours, frequency of work, your tax code and YTD earnings. Our aim is to ensure we maximise your take home pay, and you are able to claim any tax relief you are entitled to.

How does a PAYE umbrella company work?

Steps you will take if you join a UK-based PAYE umbrella company:

  1. Once you have secured a contract role, the umbrella company, as your ‘employer’ signs a contract with your recruitment agency and you sign a contract of employment with the umbrella company.
  2. You complete a timesheet on a monthly or weekly basis and send it to both your umbrella company and your recruitment agency.
  3. The umbrella company will invoice the recruitment agency, and the recruitment company will invoice the end client.
  4. Once the umbrella company receives payment, they pay your salary.

When Your Umbrella Company processes your payroll, there will be deductions required to facilitate your employment. From the invoiced amount (This is not your salary): Employer’s National insurance, Administration contribution, Apprenticeship levy and Employer’s pension contribution. The rest will be your salary, from which the following deductions will be made: Employees NI, Tax, Employers national insurance, Employees pension contribution and Student loans.

So, call us today on 033 033 36572 to find out how we can help you maximise your potential earnings and provide you with an illustration of your take home pay.

Becoming an Umbrella Worker through Accountancy Partners

If you choose to work with Accountancy Partners as an umbrella worker, we will pay you weekly, after we make the necessary deductions for tax and National Insurance contributions, on a Pay as You Earn (PAYE) basis.

You’re an employee of Accountancy Partners, regardless of what contract you are working on. You have the freedom of working on various contracts yet being paid by the same employer.

All paperwork is completed and taken care of, and you maintain continuous employment. Accountancy Partners receive a small margin from your agency, that is included in your pay rate, for processing your payments. Working through an umbrella means you will generally see a higher pay rate, over a worker working under a Contract for Services, paid directly by an agency on a PAYE basis.

In addition to the above, you will be insured on all assignments you undertake, and receive perks of employment. You will be entered into the AP pension scheme, and can request to be paid on a Thursday, dependent on which age

Register as an Umbrella Worker

Is it worth working through a Ltd PSC anymore, from April 2020?

Pre April 2020 it may have appeared an attractive proposition to work as a Ltd PSC in certain industry sectors.  From April 2020 IR35 regulations will hit the private sector and any benefits may well diminish.  

The new “off-payroll” rules require the Employment Business (agency) to assess whether the worker falls inside or outside of IR35 regulations.  *Should the agency and or the end-client, following HMRC guidelines, deem you fall inside IR35, you will have to pay PAYE on 95% of company earnings (as income - 5% has been given for genuine business expenses) – If you do not have 5% worth of genuine expenses, you’ll pay corporation tax on a proportion of the income.  In addition to the PAYE, you will also have to pay Employers NI and your personal NI. This will leave your take-home pay less, than working as an employee paying PAYE.

As the rules allow HMRC to collect taxes from anyone within the chain of engagement, if they are unable to collect the full PAYE from you, they will require the agency to pay any taxes due.  If the agency is unable to pay, the hirer (client of the agency) will be required to pay.  For this reason, clients of the agency are unlikely to accept Ltd Co. PSC workers from April 2020.

If a hirer allows Ltd PSC’s to be engaged, they will require the agency to indemnify them against any tax liability arising from the engagement.  This will mean that the agency will have no option but to deduct 95% PAYE from your gross income, or pay you a lesser rate, to account for any PAYE liability.

Certain sectors will not fall inside IR35, but one sector the government are clamping down on is driving.  *All roads point to drivers falling within IR35. Primarily, due to Supervision, Direction and Control (SDC).  To fall outside of the regs, it is likely you will have to demonstrate “genuine self-employment”, i.e. you hold and Operator’s Licence (relevant to class of vehicle), own / lease your vehicle, pay for your own insurance, fuel, servicing costs etc.

To ensure you receive the highest rate of pay for the work you undertake, and the greatest net pay, you may want to consider working through our umbrella solution.  This will allow you to maintain Ltd Co. pay rates, pay tax on a lower amount than if you were working as a direct PAYE worker, yet have the benefits of employed status, keeping ultimate flexibility, allowing you to work where and when you like.  You will also benefit from a range of perks and be insured for the duties you undertake.