News, insights and advice for contractors
Stay tuned to the NWM blog for our latest company news, in-depth industry commentary and insights as well as useful guides on finance and compliance for contractors.
As a recruitment agency it’s important that you are managing your client’s payments effectively to ensure a smooth working relationship between agency and worker. Also, with recent news and legislation and the fact that some companies have been paying workers below the minimum wage, it’s vital to keep on top of finances and ensure you’re within the law.
Recruitment agencies weren’t alone in the findings. There were over 200 companies found to be in breach and collectively fined a record £1.9 million. However, in the case of recruitment companies, this unfortunate state of affairs did not arise deliberately, but through a series of misunderstandings.
With all this in mind it means that nothing should be left to chance and that all areas should be covered when it comes to worker’s pay. Recruitment agencies are acquiring the help of umbrella companies and using their resources in order to ensure accurate and an effective payment system.
Working with an umbrella company means that you have expertise looking after what’s important. There’s no need to spend time on training employees to keep up to date with the latest legislation or rules that apply when it comes to HMRC. There is no need to invest in expensive technology or payroll software as this will be managed by the umbrella company.
Recruiters can be assured that their business is in safe hands, knowing that their contractors are being paid correctly, on time and that they will not be in breach of such rules. Mistakes are omitted and workloads are passed to specialists who understand and are efficient in payroll services.The umbrella will also ensure that the correct amount of tax and National Insurance contributions are deducted and paid on behalf of the recruiter, on time, to HMRC.
NWM offer straightforward and transparent umbrella payroll services and have over 20 years of working with contractors and recruiters alike. We understand your business and we take our role in your business extremely seriously.When working with NWM you will be given a dedicated account manager so you can have direct contact should you need it, keeping you in the loop and up to date at all times. NWM also offers contractors comprehensive insurance policies ensuring they have the best level of cover while they are working under your recruitment agency.
If you’re a recruiter and would like to know more about the services that NWM provide, get in touch, we’d love to speak with you.