Umbrella
Engage Pay Solutions takes care of all the headache of administration (from invoicing to chasing and collecting funds from your agency or end client, and calculating your Tax and NI contributions at source).
An increasingly popular choice, our umbrella company provides a payroll service to its employees, processes all timesheets and invoices, and pays its employees a salary after allowing for deductions.
The contractor gets all the usual benefits of being a UK employee, including holiday pay, employers and employees pension contributions (these are part of the invoiced amount for the work you do) but you also get maternity, paternity and statutory sick pay.
How does a PAYE umbrella company work?
Steps you will take if you join Engage Pay Umbrella:
Once you have secured a contract role, Engage Pay Solutions, as your ‘employer’ signs a contract with your recruitment agency and you sign a contract of employment with Engage Umbrella company.
You complete a timesheet on a monthly or weekly basis and send it your recruitment agency.
Your agency will alert us of your hours. We will invoice the recruitment agency, and the recruitment company will invoice the end client.
Once Engage Pay solutions receives payment, we pay you.
There will be deductions required to facilitate your employment, and these are as follows. From the invoiced amount (This is not your salary) the following will be taken off: Employer’s National insurance, Administration contribution, Apprenticeship levy and Employer’s pension contribution. The remainder will be your salary, from which the following deductions will be made: Employees National Insurance, Tax, Employers National Insurance, Employees pension contribution and Student Loans (if applicable).
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