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Payroll

If you’re opting for short term/day-to-day supply teaching jobs you may find yourself employed by a number of different schools or agencies throughout the tax year. This makes it difficult for the Inland Revenue to decide just how much PAYE tax should be deducted from your wages. There may also be times when you are placed on a high rate emergency tax, the overpayments, which can be claimed back at a later date.

London Teaching Pool Ltd (TLTP) helps you reduce the administration burden and ensure you are paid on time. Payment is made on a weekly basis (usually Friday), subject to us receiving a signed/approved timesheet by close of play Monday.

There are two types of payroll options – PAYE or an Umbrella Company

Different methods of pay will best suit different people. You need to consider what is best given your living arrangements, commute, amount of work completed, and other such circumstances.

What Is PAYE?

Pay as You Earn (PAYE) is the UK’s system of paying Income Tax and National Insurance contributions. This is handled by your agency who will deduct the relevant percentage from your wages each time before paying you and send this contribution on to HM Revenue & Customs.

What Is An Umbrella Company?

An Umbrella company is an intermediary that acts as your employer to process your pay, rather than the agency you work through.
  • You submit your timesheet along with any expenses to TLTP
  • TLTP pays your chosen Umbrella company
  • Umbrella company will transfer your pay straight into your bank account 

Which Umbrella Company?

All Umbrella companies use the same PAYE calculations to ascertain how much tax should be paid. The only difference between Umbrella companies will be the benefits they offer and the margin they charge. TLTP uses JMK, RACS, Key Portfolio and NumberMill as their Umbrella companies – all four are leading providers of services to the recruitment industry. It is worth doing some comparison work to make sure you choose the one that will work best for you.
 


Umbrella http://www.umbrella.co.uk

Umbrella.co.uk are one of the UK’s leading specialists in Umbrella payroll. Umbrella.co.uk has a long history of supporting contractors in the education, healthcare and medical sector ensuring that we fully understand your needs and requirements. Umbrella.co.uk are one of the few companies in the UK who are part of all top tier compliance and service accreditations such as ‘The FCSA’, ‘ASPCo’ and ‘Professional Passport’. These accreditations are the gold standard in our industry for value, service and compliance. Therefore you can rest assure that you are always in safest hands. Umbrella.co.uk are affordable, competitive, flexible and here to help you.
Please contact us for more information or a competitive quote on 01625 546 610 (option 1) or new.signups@umbrella.co.uk


NumberMill http://www.numbermill.co.uk

NumberMill are a firm of practising ACCA accountants, who are also IR35 specialists. This means that they have a whole suite of solutions to suit contractor’s individual circumstances. One technical specialists will look at your personal position and make recommendations and offer you choice. Call NumberMill on 0333 121 2001 (option 1) or email referrals@numbermill.co.uk


RACS http://www.racsgroup.com

As one of the leading payroll providers in the UK, RACS Group will help contractors maximise take-home pay, get paid more quickly and stay compliant. RACS payroll service gives contractors a wide range of additional benefits including one of the lowest margin structures in the industry, based only on the days actually worked by the contractor, and a dedicated Client Care team to ensure the very highest service levels. Call RACS on 0845 604 0571 (option 1) or email info@racsgroup.com


JMK – Maximising Your Worth http://jmkgroupuk.com

Part of the JMK Group UK; a specialist accountancy practice that provides expert, tailored, compliant advice and support for contractors. As a professional business JMK work to a strict code of ethics and values. Each fully qualified Accountant is on hand to manage your account and ensure you are inline with UK tax rules. Call JMK on +44 (0)1895 447 800 or email info@jmkgroupuk.com


Key Portfolio https://keyportfolio.co.com

With Key Portfolio, you can have the advantages of employment alongside the freedom of contracting. It really helps to make supply work for teachers and Education workers more rewarding. They’ll run the payroll for all your agency assignments and will also give you benefits (like sick pay, maternity pay and paternity pay) when you need them. And, you’ll get a package of employee perks and discounts, with exceptional savings on shopping, travel, restaurants and more. Call Key Portfolio on 0345 371 0303 or email portfolio@key.co.com

 

If you are still unsure about how to proceed, your consultant at TLTP will be more than happy to help. Contact us today on 020 8709 6540 or email info@tltp.co.uk.

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