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Bishopsgate Recruitment Services

Providing Umbrella PAYE & subcontractor CIS solutions

Bishopsgate Construction Services

Providing subcontracted construction services across the UK

Insights 2023

Keep up to date with all the latest news and regulations regarding payroll solutions in the UK

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Enjoy fantastic savings on your everyday spending, plus a range of other benefits.

How Umbrella Companies Work For Contractors

What is an Umbrella company?

A fully compliant Umbrella company is a payment intermediary which acts as an employer to contractors who work on various temporary assignments. This provides contractors with a continuous period of employment whilst having the flexibility to work on many assignments with different clients.

The Umbrella company will invoice for the assignment rate whilst handling all the necessary deductions required by law. The remaining PAYE rate then will have the contractors’ personal tax and National Insurance deductions handled ensuring the candidate’s income and tax affairs are taken care of compliantly.

Step 1

The Umbrella company will act as your employer whilst you work on temporary assignments.
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Step 2

They deal with your paperwork and administration, providing you with a contract of employment and information on each temporary assignment you undertake.
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Step 3

The Umbrella company will enter into a contract with each agency/client you work on an assignment for.
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Step 4

The client you are working for will want you to record the time spent on assignment which is usually achieved by the completion of a timesheet. This timesheet is then passed to both the client/agency and the Umbrella.
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Step 5

The Umbrella company invoices the client on your behalf for the assignment rate for the services you have performed.
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Step 6

The Umbrella company receives payment from the agency/client and administers the assignment rate under the terms of your contract.
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Step 7

You will receive a reconciliation statement along with a payslip showing how the assignment rate is broken down showing all income and deductions. The payslip will provide your PAYE breakdown and show the NET amount paid into your personal account.
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Bishopsgate Umbrella Benefits

Benefits of Bishopsgate Umbrella for Contractors

  • Statutory benefits such as holiday pay, sick pay and a pension
  • One employer with benefits of continuous employment
  • Comprehensive insurance provided by QDOS Contractor
  • Option to access Bishopsgate Rewards helping reduce everyday costs
  • Access to partnerships providing discounts on services such as an end of year tax return, accountancy services, personal accident and sickness cover policies
  • Payslips and SMS notifications detailing payment and relevant deductions
  • Employee status which assists with life planning such as obtaining a mortgage or financial loan

Benefits of Bishopsgate Umbrella for Agencies

  • Decreased time and cost spent on payroll by outsourcing labour
  • Compliance with AWR, auto-enrolment, MSC legislation and IR35
  • Right to work checks
  • Removes administration associated with employing workers directly, allowing time and money to be spent growing your business
  • Comprehensive insurance cover for employees
  • Candidate SMS payment alerts
  • Decreased time and cost spent on payroll and HR when engaging contractors
  • Removes administration associated with employing workers directly
  • UK based call centre with an out of hours service operating 24/7
  • Competitive industry rates

Register For Bishopsgate Umbrella Payroll Services

Registering with Bishopsgate on our Umbrella PAYE scheme is a quick and simple process. You have two options: you can complete the sign up form here and a customer service representative will be in contact with you to confirm your details.

Alternatively, you can call us on 0203 019 4990 to speak to one of our customer service team; they will be able to get you registered in no time.

Before we can make payment to you, we will require your right to work documents (please click here to find out what we will need) as well as your signed contract. Finally, once we have these, you’re fully registered and ready to be paid.

Register now