What is an umbrella company?
An umbrella company like Ontime Payroll is an overarching employer for flexible workers under a fixed-term assignment usually through a recruitment agency. The recruitment agency will issue a contract to the umbrella company of choice and, in turn, the umbrella company will raise invoices to the recruitment agency (or end client) in order for you to get paid. Once the umbrella company has received earnings from the agency it is usually processed through PAYE with the added benefit of tax reducing business expenses which help to maximise your income.
Once you have become an employee of Ontime Payroll you will receive a full contract of employment meaning you receive all of the benefits of permanent employment along with the freedom of flexible working. Your insurances, accounts, administration and employment rights will be taken care of leaving you to fully focus on your working role with complete peace of mind.
What is my employment status when working through Ontime Payroll?
Once you have registered with us, you will receive an employment contract meaning you will become an employee of Ontime Payroll. You will then be entitled to full statutory employee benefits.
How long does it take to get paid?
Keeping up to date with your timesheets plays a big part in how long this will take. The quicker you get your timesheets to Ontime Payroll the quicker we can raise an invoice for you. However, if you are getting your timesheets in on time and your agency or client ensures Ontime Payroll has cleared funds in our account before 12 midday, we run same-day payroll for you.
Once we receive your funds, our earnings team ensures that the amount we receive matches the invoice which was raised, before we begin to process the earnings. Our payroll team then takes into account any expenses, allowances and deductions that apply to your earnings. Once this is completed we then make a CHAPS (faster) earnings to you for the net amount meaning your hard-earned money will be in your account that very afternoon.
Are there any hidden costs, such as joining or leaving fees?
There is no joining or leaving fee and you are not tied into our services for any length of time. The Ontime Payroll margin only applies while we are incurring the cost for making earnings to you.
What is the difference between CHAPS and BACS earnings?
Money paid through CHAPS earnings should reach your bank account the same day. BACS earnings generally take 2 – 3 working days to reach your account.
Do I get paid holiday?
Yes you do. We accrue, or set aside, your holiday which is equal to your Ontime Payroll salary. Your Ontime Payroll salary is calculated around national minimum wage so when you take holiday we are able to earnings you for it from the funds you’ve accrued while working. You are generally entitled to 28 days holiday (including bank holidays) per annum. You can submit your holiday requests through our online portal, by contacting your business manager by email using email@example.com detailing the days you wish to take as annual leave.
What does ‘Search Week’ and ‘Notice Period’ mean?
A ‘Search Week’ is a week that occurs at the end of a contract. If you do not have a new contract to start immediately, we will earnings you a week at national minimum wage while you search for a new role. Your ‘Notice Period’ is the week leading up to the end of your contract which we will again be able to pay you at national minimum wage. We accrue these funds in the same way as your holiday and it can be very tax efficient. However, these options are completely by choice and, if you would like us to set aside these funds for you, all you need to do is let us know at point of registration.
I do not have a National Insurance Number, how do I get one?
You will need to contact Jobcentre Plus to apply for this. Please see more information regarding this here.
Can I be caught by the IR35 legislation?
IR35 is not a consideration while working through Ontime Payroll. You will be working as an employee of Ontime Payroll and your earnings will be subject to full PAYE and NIC deductions at source. Therefore, the IR35 legislation will not apply.
Is Ontime Payroll caught by the MSC legislation?
As Ontime Payroll deducts full PAYE tax and National Insurance on all your earnings we are not caught by the MSC legislation. There is no risk of debt transfer to either you or your agency.
What is a Benchmarking or Matched Perm earnings contract?
This relates to the Agency Worker Regulations 2010 which came into force from October 2011(in England Wales and Scotland and 5 December 2011 in Northern Ireland). Under a benchmarking contract you will receive the benefit of parity of earnings, compared to the equivalent permanent employee at the same client to whom you are carrying out an assignment, after a 12 week qualifying period.
What is a Swedish derogation contract?
This relates to the agency worker regulations 2010 which came into force from October 2011. Under a swedish derogation contract you can receive up to 4 weeks’ earnings at 50% of your assignment rate at the end of an assignment or during your notice period. In return, your assignment rate is not matched against a client permanent employee’s rate after 12 weeks.
What level of insurance do you have?
As an employee of Ontime Payroll, you are covered by our insurances.
Levels of cover:
|Employers’ liability||£10 million|
|Public liability||£5 million|
|Professional indemnity||£2 million|
Employers’ liability insurance enables businesses to meet the costs of damages and legal fees for employees who are injured or made ill at work through the fault of the employer.
Public liability insurance covers damages and legal costs resulting from injury, death or damage to property caused to members of the public by any of your business activities.
Professional indemnity insurance covers businesses giving advice or providing services in a professional capacity. It protects against legal liability for losses suffered by customers as a result of negligent advice.
How do I get started with Ontime Payroll?
Please complete the online registration form or contact one of our business managers’ on 01138267260 who will be happy to talk you through any further questions you may have and get you set up with us.
Need more information? – Give our dedicated team a call on 0113 8267260 or, alternatively, request a call back and one of our advisors will get back to you as soon as possible.
Want to join us? – Give us a call on 01138267260 or complete our quick and easy online registration form and we can get you set up within hours.