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?
What Is An 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.
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 email@example.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 firstname.lastname@example.org
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 email@example.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 firstname.lastname@example.org
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 email@example.com.