Simon Nicholas Associates offer a range of flexible payroll solutions depending on individual circumstances. We pay our contractors by PAYE, their own Limited Companies, via a Payroll Company who specialise in management umbrella schemes, CIS for the self-employed and Limited Company contractors.
Our Consultants are always happy to offer advice on payment methods to suit candidate’s individual needs.
Available payroll schemes available
PAYE stands for pay as you earn. After you submit your weekly timesheet, Simon Nicholas Associates will calculate your hours worked and deduct your tax and National Insurance (NI) contributions. The amount withheld is determined by a tax code which applies to the taxpayer’s individual tax liabilities, all of which will be shown on a weekly payslip.
The PAYE thresholds (the level of earnings at which tax becomes payable) are £105 weekly or £453 monthly
Holiday pay information can be found on the Holiday Request Form
An umbrella scheme is a contracting solution for individuals that want to work as employees on a series of short-term assignments, where they are employed by the payroll provider and not the recruitment business. Many individuals opt to work this way as it allows them to enjoy the benefits and protections that go with them being an employee. As an employee you will be eligible for statutory benefits such as sick pay, maternity pay, paternity pay, adoption pay and will be enrolled in a pension scheme. Candidates being paid through an umbrella scheme will also be entitled to holiday pay which you will accrue whilst employed.
Construction industry scheme (CIS)
The Construction Industry Scheme (CIS) is a scheme created by HM Revenue & Customs (HMRC) for tax from contractors and subcontractors.
CIS applies to all contractors and subcontractors, whether sole traders, partnerships, or companies, who are working within the mainstream construction industry
In April 2014 HMRC amended legislation that governs how self-employed contractors can be engaged when working via an intermediary (recruitment business). Simon Nicholas Associates can still source work for self-employed contractors where individuals will not be working under the supervision, direction or control (SDC) of the end hirer and have preferred payroll companies who have ensured our processes allow eligible workers to be engaged on a self-employed basis while protecting all parties in the supply chains from potential liabilities.
Being self-employed gives you the freedom to manage your own affairs and you can work as and when you choose. With freedom comes responsibility so you will be responsible for completing an annual self-assessment tax return and paying any income tax and national insurance that is due. You will, therefore, need to budget and make provision for this from what you receive.
Running your own limited company means that you will benefit from being able to claim back a wider range of expenses, and will have access to the flat rate VAT scheme which allows you to keep some of the VAT you receive. Perhaps most importantly you will have complete control over your financial affairs.
You must also keep in mind though that there are legal obligations and paperwork to be kept on top of when running a limited company, however a good contractor accountant will be able to assist you with this and minimise the amount of time you need to spend on it.
When working through your own Limited company you will be responsible for sending a weekly invoice along with your timesheet for processing. Once your company invoice has been received you will receive a weekly remittance showing any deductions, VAT etc.
Please ensure your timesheet is signed off by your Manager and returned to the Simon Nicholas Associates office no later than 12.00 noon on the Monday following your week at work.
Download a copy of your timesheet here
Timesheets can be:-
- Email to email@example.com
- Fax on 0115 9878494
- Send an image to 07969885467
- Post to Simon Nicholas Associates, 16 Commerce Square, Lace Market, Nottingham, NG1 1HS
We run our payroll Tuesday lunchtime and money is paid into your account by 9am on the Friday morning. All PAYE workers will be sent a weekly payslip and Remittances will be sent to Limited Companies on a weekly basis.
If you have any questions regarding payroll or the completion of timesheets, then please don’t hesitate to contact Claire B or Vicky in Accounts on 0115 987 8484 or email firstname.lastname@example.org / email@example.com