Solutions: Umbrella PAYE
As an employee of Magenta Pay, you fill out your timesheet and expense claim form, leave the rest to us.
Magenta Pay Limited provides a leading UK PAYE umbrella service to help contractors, locums and temporary workers increase their income compared to standard PAYE employment, without the hassle of self-employment or becoming a director of your own limited company.
- Employee status – PAYE with no Director responsibilities
- Rapid joining process over the phone or online.
- Same day payments at no additional cost
- Low margin to benefit low hour contracts
- Business related expenses reimbursed – fully compliant with HMRC guidelines
- Full entitlement to statutory benefits
- All tax and National Insurance paid, without the need for an accountant
- Continuity of employment, even if working for many clients
- One tax code, for multiple contracts which avoids unnecessary overpayment of income tax
- Can work with both CIS and non-CIS contracts
- No extra costs for reference letters, duplicate payslips, registration costs or exit costs
- Professional Indemnity Cover
Public Liability Insurance
Employers Liability Insurance
Using Magenta Pay has many advantages over being employed directly under an agency PAYE scheme.
As temporary contracts may come and go, your employment may only last a few weeks. Employment with Magenta Pay lasts as long as you are contracting. Lenders and other credit services appreciate this continuity of employment.
Whilst offering your services as a temporary contractor, you may find short term work through several different clients. As Magenta Pay is your employer, your personal tax code is with us. Therefore, regardless of which contract you are working on, your tax code and allowance is applied to all of your payments.
Costs
How much does it cost to use Magenta Pay?
Our margin varies from as little as £5 per week through to £20 per week. As you would expect, there is no cost to join us, leave the service or to process expenses; and if you are not working, we do not retain any margin.
Give us a call
As one of the UK’s leading PAYE umbrella service providers, contact us today for further information regarding the benefits of using Magenta Pay.