Supports contractors, offers efficient umbrella service & same day payment
Supports contractors, offers efficient umbrella service & same day payment
When you take the decision to work with Saymore Umbrella you can say goodbye to all the daily administration and hassle often associated with contracting. However, in order for us to function efficiently in the background, there are a few things we need you to do for us.
Although your responsibilities are few, they are actually quite important, because if the information you provide us with is inaccurate or delayed our entire processing system will inevitably be adversely affected.
There are four golden rules we ask you to abide by:
If the above information is supplied in a timely and accurate manner, we have everything we need to fully maintain your account. We will then be able to pay you accurately, on time and as efficiently as possible.
If you would like to read about each of the above points in a little more detail, check out the sections below.
Induction - Registration Documents
When you decide to join Saymore Umbrella, we have to collect a few documents from you required by law to ensure we verify your details. We will also issue you with an employment contract, which requires your signature, so that you can take full advantage of our employment benefits package and insurances.
Your Employment and Agency contracts can be completed online in our fully secure 128 bit encrypted signing centre, making the whole contract process as streamlined as possible.
You can e-mail copies for verification of your identity, address and eligibility to work in the UK. The only other item we need from you is an original P45.
So all you need to do is;
Remember, the quicker all this is completed, the quicker you can take advantage of our plethora of benefits and ultimately, get paid!
Timesheets
Timesheets are the very foundation of the entire payment process. It cannot work efficiently without them, as no invoices can be raised; What’s more, if they contain inaccurate information when they are submitted, delays to invoicing and ultimately your payments, will be the result.
There are three ways to communicate the time you have worked back to Saymore Umbrella:
The method of submitting timesheets is usually governed by the arrangement between you, your Agency or Client and Saymore Umbrella. Members of the New Business Team at Saymore Umbrella have detailed knowledge of how agencies operate and will always be happy to advise you on your particular circumstances.
The important thing to remember is that your timesheets must reach all parties involved by the appropriate deadlines in order to ensure a quick and streamlined payment process.
Expense Claims
Business expenses must be incurred wholly and exclusively for the purpose of your contract. They are not intended to provide any element of profit to you. If they do, for some reason produce a profit, then that element would be treated as a benefit which is subject to PAYE Tax and NICs.
Any Saymore Business Expenses which you wish to claim, are sent directly to and processed, by Saymore Umbrella, so there is usually no need to inform your Employment Agency of them. However, expenses that your Client has agreed to reimburse in full, Re-chargeable Expenses, must be agreed beforehand with your Agency/Client and they will ALWAYS require you to submit a receipt directly to them.
Expenses can be sent to Saymore Umbrella by the following methods:
Expense claims should be sent to Saymore Umbrella, along with your timesheets and should cover the same time period. This helps ensure that you receive the tax benefit within the same period and minimises the chances of your income fluctuating dramatically from one pay period to the next.
Evidence of Expenses (Receipts)
The process of claiming legitimate business expenses is made easy by Umbrella Companies, sometimes too easy, encouraging contractors to claim expenses, which would normally be disallowed.
In recent years dispensations have too often been used by Umbrella Companies as a sales tool, encouraging contractors to claim expenses that they have not incurred. This is entirely misleading, as any dispensation granted to an Umbrella Company covers the company and NOT the contractor.
If HMRC were to carry out an expense audit on the company and/or you personally, you would have to produce receipts for all the expenses claimed if any evidence of abuse of the policy were to be discovered. Our advice is that it is always best to keep receipts, even if the Umbrella Company doesn’t require them.
Saymore Umbrella is dedicated to keeping contractors fully compliant, whilst maintaining our hassle free administration policy. However, our main priority is to keep you free from any threat of investigation, whilst still providing the best possible package.
Don’t forget the golden rules behind expense claiming;
Remember: if a receipt or evidence of purchase is required in the Expense Policy. Your claim will be disallowed until you provide us with a copy.
