If you are looking for a straightforward, efficient and easy to understand solution giving you full employment rights whilst maintaining your professional independence then PEO, professional employment, is for you.
frequently asked questions
We have grouped the most frequently asked questions to answer your queries. We are constantly updating these based upon your feedback.
what is PEO & what type of contract am I engaged under?
what is PEO?
PEO stands for Professional Employer Organisation. This is a simple PAYE employment model in which you are quoted your actual gross pay rate from the start, which never changes unless your pay rate changes. There are no deductions other than PAYE employee tax and national insurance. The pay rate that you are quoted is the pay rate that you are paid.
what type of contract am I engaged under?
A contract of employment, with giant as your employer.
can you provide a net pay illustration?
can you provide a net pay breakdown?
Yes, please enter your details and rate on the calculators available on our website.
can a yearly illustration be provided using my specific tax code?
Our illustrations provide an estimated take home using a fixed set of assumptions as detailed. They are for illustrative purposes only to provide an estimated net take home and should not be thought of us guaranteed income.
can you provide me with a net pay illustration factoring in Student loan deductions?
We are unable to include student loan repayments in the illustration we provide; however if we are notified by HMRC to make deductions, the amount you repay depends on which plan you’re on. Each plan has a threshold for your weekly or monthly taxable income. You repay:
• 9% of the amount you earn over the threshold for Plan 1 and 2
• 6% of the amount you earn over the threshold for the Postgraduate Loan
• If you have a Plan 1 or 2 loan and a Postgraduate Loan, you’ll repay 15% of the amount you earn over the threshold.
You do not pay anything back if your income is under the threshold.
The thresholds change on 6th April each year, click on the following link to find out the current thresholds: https://www.gov.uk/repaying-your-student-loan/what-you-pay
tell me about your fees?
what fees are payable?
None. We charge your agency!
when & how often do you pay me?
when do you pay me?
We will agree a weekly or monthly payroll timetable with your agency and this, along with any applicable payment terms, will be communicated to you during onboarding.
how often will you pay me?
We will pay you in line with the same frequency that we agree with your agency – this generally is either weekly or monthly.
quoted pay rate, deductions and payslips?
what is my quoted pay rate?
This is your actual gross pay rate that does not change. Your gross pay is based upon this rate and the number of hours or days worked.
what deductions are there from my rate?
There are only statutory PAYE tax deductions from your quoted gross pay rate. Statutory deductions may also include Student Loan repayments and any Attachment of Earnings Orders we receive e.g. CSA payments.
do I get a payslip?
Yes you receive a normal payslip starting with your gross pay rate and showing the PAYE tax deductions.
can I claim expenses?
Any expenses will need to be pre-approved by the hirer and agency; once they pay the funds to giant, we will reimburse the expense to you within your payroll.
what about holidays?
what is the holiday entitlement under PEO and how does it work?
You will have a statutory minimum entitlement of 28 days per year including bank and public holidays. If under the AWR regulations, we are advised by your agency of a higher entitlement, then this will be matched.
In most cases, your holiday will be accrued and paid to you when you take time off.
are bank holidays paid?
Your holiday entitlement is inclusive of bank holidays, to be paid for a bank holiday you will need to submit a holiday claim, which you can do online via your portal.
what happens if I take more or less than the entitlement?
You should aim to ensure that you take your full annual leave entitlement within the holiday year. Any unused holiday will not be carried forward to a new year.
If you take more than your entitlement, then it will be unpaid.
can I book holiday for the same period that I have also worked?
The practise of booking holiday and also submitting a timesheet for the same period is not permitted on an accrued holiday pay scheme.
what are my pension options?
what are my pension options with giant?
After 90 days of continuous employment with us, we will auto enrol you into a workplace pension with NEST. You will contribute 5% of pensionable earnings and giant will contribute a further 3%. Once auto-enrolled, you do have the option to opt out of this.
if I have a private pension elsewhere, is this something you take into consideration when processing my pay and have it deducted from my gross?
We can currently only process pension contributions into the workplace pension scheme via NEST.
what if I want to leave?
what is the notice period if I wish to leave giant?
You have two notice periods – one for your assignment at the hirer, and another for your employment with giant. Your agency will confirm the notice period for the assignment and we will populate this on the assignment schedule you are offered online with us. To terminate your employment with us (which is separate to your assignment), your notice can range from immediate to thirteen weeks dependent on your length of service; if you require for us to agree a shorter notice period, we can mutually agree this.
can I leave you at any time?
Yes, ensuring that you have served the relevant notice period as detailed on your assignment and employment contract. Some agencies will only allow you to change engagement model either at the point of extension or new assignment and so you should check their policy on allowing changes.
what about insurances & SLA’s?
do you include business insurances such as professional indemnity etc..?
Yes, we hold the following cover for all our employees:
- Professional indemnity: £5million for any one claim
- Employer’s Liability: £10million for any one occurrence
- Public liability: £5million for any one occurrence
- Products liability: £5million for any one occurrence
what are your SLAs for dealing with queries / complaints?
We aim to respond to all queries within 24 hours and have a robust complaints procedure in line with our employee handbook.
what are the benefits of giant PEO?
what are the benefits of giant PEO?
An easy to understand, PAYE employment model in which you are quoted your actual gross pay rate from the start, which never changes unless your pay rate changes. You will also benefit from:
• our 30 years of experience
• mobile enabled, simple software
• payment text alerts
• holiday pay
• one employer
•statutory employment rights including the AWR
• business insurances
• workplace pension
• statutory payments
• own tech – designed for simplicity
• support team
• giant advantage
what is giant advantage?
Honoured by the Benefits Excellence Awards, giant advantage is an extensive employee benefits programme that can save you £1000’s each year with things like:
• cheaper cinema tickets
• discounts at your favourite high street retailers
• leasing a brand new, low emission, fully insured car free from tax and NI deductions
• buy a bicycle on a 12 month purchase plan free from tax and NI deductions
• 24 hour employee assistance helpline to help you with both work and personal issues.
umbrella pay rate
Under umbrella employment the agency will quote you a limited company pay rate which is payable to us. Then like other umbrella companies we deduct our margin, employer’s national insurance, apprenticeship levy and any pension contributions before arriving at your gross taxable pay.
These deductions can vary depending on the number of hours worked and therefore your gross pay rate will vary. Payslips require an invoice reconciliation to show how your gross taxable pay was reached - all of which can be confusing for workers.
The government has recognised this confusion and from April 2020, as part of the government’s Good Work Plan, agencies will have to detail these deductions on an agency Key Facts Page to each worker so that you have a clear understanding of your actual gross pay rate.
PEO pay rate
Under PEO you are quoted your actual gross pay rate from the start which never changes unless your pay rate changes. There are no deductions other than normal PAYE employee tax and national insurance. There is no invoice reconciliation required and payslips are therefore very easy to follow.
The pay rate that you are quoted is the pay rate that you are paid.
Please note that these calculations are based on the following series of assumptions:
- inside IR35 status with PAYE tax and employee’s NI deductions applied
- basic Rate (BR) tax code used
- average savings made with giant advantage; no expenses
why giant PEO?
We have 10 years of experience operating PEO employment for agencies and companies of all sizes, for example T15, Alexander Mann Solutions, Cielo and Barclays Bank.
how to join
For giant to be able to offer PEO employment to you we must have agreed the required processes with your agency.
Please contact us so that we can advise you whether your agency has set up PEO employment with us.
We look forward to having you on board!