- Contractor
- PEO
Contractor: PEO
If you are looking for a straightforward, efficient, and easy-to-understand solution giving you the right level of support whilst maintaining your professional independence, then PEO is for you.
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 employee’s 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.
PEO benefits
30+ years of specialist experience
Mobile 1st, simple software
£30m business insurances
Advances available
Payment text alerts
You receive your quoted gross pay rate
Statutory payments (SSP, SMP, etc.)
Benefits scheme with giant advantage
FCSA founding member
Straightforward gross to net payslip
Umbrella
pay rate
For comparison, under umbrella employment, the agency provides a limited company pay rate which is the umbrella company’s income. From this, the umbrella company retains its margin, employer’s national insurance, apprenticeship levy, and employer pension contributions to reach your gross taxable pay rate. These deductions are usually broken down on an invoice reconciliation each time you are paid and fluctuate based on hours worked, meaning your rate can also fluctuate. Understanding this process can be bewildering. To address this, as of April 2020, the government’s Good Work Plan requires agencies to outline these deductions on an agency Key Information Document (KID). This ensures workers can understand the deductions that are made and their actual taxable gross pay rate.
Why Giant
PEO?
We have over 10 years of experience developing and delivering PEO payroll to contractors to provide a straightforward solutions and providing a full range of benefits.
