Why is compliance important?
The recruitment industry and the management of contractors has presented challenges and concerns for some time. Industry doesn't like uncertainty and the use of intermediaries is governed by a complex web of rules, regulations and legislation. The level of confusion and lack of knowledge in the industry is understandable and this allows unscrupulous providers to survive and thrive. The perceived lack of enforcement seems to add a spirit of adventure and deceit which has resulted in a rising number of scams, contrivances and exposes.
Orange Genie Group
Here at Genie Accountancy, we love hearing from happy clients. Have a read of the below & find out why making the decision to move from umbrella to setting up their own limited company was the best route for one of our clients....
Contractors that earn over £150,000 were dealt a bitter blow in the
in July, as the Chancellor attempted to balance his cuts to welfare and benefits with a reduction in the pension allowance for Britain’s highest earners.
If you fall in to this highest pay bracket then you will have your annual pension allowance cut at a rate of £1 for every £2 you earn over that £150,000 threshold, effectively leaving those earning £210,000 per year with just £10,000 annual allowance from April 2016.
Business Development Director of Genie Education, Pras Desai recently featured in the latest edition of Recruiters supplement, ‘Managing Agency Workers and Contractors’ in a piece called ‘Servicing the Supply Teachers’.
We thought you might find it useful if we shared the questions (& answers) Pras went over, take a look…
Q & A's with Pras...
One of the questions that we are asked time and time again by supply teachers is ‘will I be able to secure a mortgage?’ The answer is yes!
As a supply teacher, you can borrow based on your teaching contract rather than your umbrella payslips. This means that you can often borrow more and at the same rates that permanent teachers can secure at their local branch.
Will supply teachers be eligible for a mortgage?
If the Chancellor George Osbourne wanted us to pay attention to his proposed summer budget then he certainly got the desired effect!
There is a lot for us all to take in and on the face of it the cost of extracting income from a company has increased but there are still some really good reasons to operate through a Limited company.
The most important role performed by an umbrella company, such as Genie Education, is to employ supply teachers. In addition to being able to claim for expenses were you aware through becoming an employee of Genie Education this then grants access to an extensive list of other benefits too?