Resourcing Solutions operate/provide the following three payroll/payment solutions for our workers
Resourcing Solutions pays you directly into your personal bank account. Tax, NI and Pension are deducted from your payments before funds are paid over to you. All tax and NI deduction are paid over to HMRC on your behalf and weekly reports sent to HMRC in-line with HMRC legislation. Pension deductions are sent to our selected private pension provider on your behalf. You will accrue holiday pay (currently 28 days per annum – inclusive of statutory holidays) which is payable when you take leave and if you have accrued enough leave.
Ltd Company/Personal Service Company (PSC)
You set up your own Ltd company where you become a director and shareholder of the company. All funds are paid as gross payments (apart from CIS where applicable – see FAQ on Getting Paid Page) into the Ltd Company business bank account. It is your responsibility to ensure your taxes are paid to HMRC – normally with the assistance of an accountant. You do not accrue holiday pay if you are paid through your Ltd company.
An Umbrella company is a payroll company where you become an employee of the umbrella company. You submit your timesheets to Resourcing Solutions who will pay gross payments to the umbrella company. The umbrella company then pays you less a fee and PAYE deductions. As your employers, the Umbrella company will be responsible for PAYE, NI and pension deductions and accrued holiday payments.
Resourcing Solutions currently allows our workers to use five Umbrella providers being Danbro, Liberty Bishop, Liquid Friday, Shipshape and Sterling Solutions. Further details about these are provided in your registration packs and from your consultant.