Umbrella Company Services

Low Cost Payroll Services for Contractors

If you are a contractor or temporary worker looking for a no-nonsense payroll company that you can count on. Then look no further – welcome to Profits Plus! We’re flexible, personal and superb value for money.

Profits Plus is fully compliant and reliable. We have a fast sign up process and offer comprehensive insurance for ultimate ease with all our payroll services for contractors.

You will find our friendly and personal service refreshing. We will even notify you by email when you get paid!

Our simple pricing structure is a breeze! No charges when you don’t work and just £4 or £19 per week when you do! Profits Plus we certainly won’t penalise you each time you take a break.

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Why are we the best?

  • Our Company Mission
  • Our Philosophy
  • Our Promise

Striving to deliver outstanding service whilst always offering great value to all of our clients no matter how big or small.

Great Service

You will find our friendly and personal service refreshing.

Fully Compliant

Profits Plus is fully compliant and reliable. We have a fast sign up process and offer comprehensive insurance.

No Hidden Charges

Our simple pricing structure is a breeze! No charges when you don’t work and just £4 or £19 per week when you do!

What is an Umbrella Payroll Company?

An Umbrella Payroll Company acts as an employer to contractors and freelances who usually work under temporary contracts. In simple terms, an Umbrella Payroll Company enables you to have the freedom of contracting and be paid without having to incur the cost and responsibility of setting up and running your own limited company. Joining is safe, reliable and fully HMRC-compliant. We deal on your behalf, with all Income Tax and National Insurance calculations, invoicing, expenses etc.

We will provide you with the following:

  • An overarching employment contract, which entitles you to full statutory employment rights
  • Automatic cover through our insurance policies for professional indemnity and both employer’s and public liability
  • We raise invoices to your agency from the time sheets you provide us
  • Relationships based on trust and credibility established with your client/agency so that we can collect your money promptly and so reduce the possibility of overdue payments to you
  • Processing the payments received from clients/agencies, ensuring that the correct income tax and both employer’s and employee’s NICs are deducted in line with HMRC legislation
  • No administrative burden associated with running your own Limited Company
  • Completion and submission of comprehensive VAT and Tax computations to HMRC on your behalf and payment of all sums due
  • Liaison with HMRC and all statutory bodies on your behalf to ensure that we are always fully compliant with the latest legislation and regulations
  • A fixed fee to us only when you work, there are no hidden charges

How do Umbrella Companies work?

So how do Umbrella companies work? You will become an employee of ours and we will look after every element of your employment; from processing your timesheets to invoicing your client or agency, chasing any late payments.We take care of your PAYE and national insurance obligations and make payment to your personal bank account on the same day we receive funds.

FAQs

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Yes, you can. The good news is you can sign up and use our services for one off contracts even if you have a limited company. Just remember that you will have to declare all of your income on your self-assessment tax return at the end of the tax year.

In the 1990s, it was common practice for individuals who had been employed via PAYE to revert to being contractors by working through their own limited companies or personal service companies, to avoid paying excessive amounts of tax and National Insurance. Under these arrangements a contractor was only really a contractor in name as they were actually virtual employees: same job, same employer, same rules etc.

No, you only pay us our fee when you work.

Yes, under your contract of employment with us, you will automatically receive both employer’s and public liability insurance, together with professional indemnity insurance.

No. You can leave us at any time and you will not be charged a leaving fee, we will then issue you with your P45. If you then decide in the future to return to use our umbrella company then there is no charge.

Yes, under your contract of employment, you will receive the usual UK employee’s rights to Statutory Maternity Pay, Statutory Paternity Pay, Statutory Adoption Pay and Statutory Sick Pay, provided you meet the qualifying criteria. Please contact your account manager, who will be more than happy to give you further information on these topics.

We will send you an email as soon as your payment has been processed and electronically transferred to your bank account.

Depending on your chosen payment frequency, i.e. weekly/monthly, if we receive cleared funds from your multiple sources simultaneously, we will aggregate them and calculate your tax and national insurance liabilities from the total. We will NOT process one payment one week and hold on to your other payments for the next week.

This will depend on what you negotiate with your agency/client; it will either be weekly or monthly.

If you have not been given a P45 by a previous employer we can either send you a P46 to complete or you can download a P46 from our website. Send it back to us and we will allocate the relevant tax code according to which statement you sign. Unfortunately we may have to put you on an emergency tax code whilst awaiting notification of your correct code from HMRC. This means you may have to pay a little extra tax before we receive the new notification, but it is recoverable.

This is your contract of employment with us. It has been written with the expectation that you will be working on various contracts whilst employed by us.

No, there is no set-up fee. You only get charged when you are working.

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  • Only complete the below for non UK accounts: Note there will be a charge for payment to foreign accounts.
  • P45 OR P46 WE REQUIRE YOUR P45 FROM YOUR LAST EMPLOYMENT BEFORE WE CAN PAY YOU. IF YOU DO NOT HAVE A P45 YOU MUST SELECT BOX A, B OR C FROM THE BELOW CHOICES SO WE CAN PAY YOU WITHOUT DELAY.
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      NURSES PLEASE READ: If you are a nurse you MUST send us a copy of your Indemnity Insurance to cover you for Malpractice. We will not be able to register/employ you if you do not provide a copy of your insurance as we do not hold the appropriate insurance you require. Please visit the 'Royal College of Nursing' for more information on where to get the correct insurance as we cannot provide this information. Please upload your 'Nurses Insurance certificate'.
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