ICS PEOple - Professional Employer Organisation
A Professional Employer Organisation, PEO for short, has been hugely popular for many years in the United States contractor market due to the additional benefits this solution can provide, such as health insurance, simplified workings for gross take-home pay, as well as an alternative to an umbrella solution.
Here in the UK, PEO’s have grown in popularity since the off-payroll reform for the public sector in 2017 and more recently with the private sector changes in April 2021.
How does a PEO work?
A PEO provides an umbrella alternative employment solution for recruitment agencies or end clients by employing a contractor directly, taking care of the employer responsibilities such as employment rights, payroll, payments to HMRC, pension contributions, and benefits.
Contractors are provided with their gross pay rate from the start of an assignment which gives greater transparency when working out take-home pay. There are no employment costs or deductions from their rate. They receive a straightforward payslip with their gross pay through the Pay As You Earn (PAYE) model.
For an agency or end client to operate this solution internally creates a huge amount of extra cost, time and resources, plus the added stress and pressure on top of the usual business as usual.
That’s where ICS PEOple comes in, offering reduced payroll costs, a compliant workforce and an efficient employment solution.
ICS PEOple is the PEO solution that delivers a compliant, inside IR35 solution, employing the contractor directly and offering employment rights, benefits, payroll, tax payment and pension contributions.
ICS PEOple will elevate pressure within an agency or end client, allowing them to concentrate on what they do best.
ICS PEOple PROCESS
Once the contractor has completed the registration process, ICS PEOple will receive confirmation of the contractor’s number of hours worked from the agency or end client at the agreed timescales (monthly or weekly).
An invoice is then raised and issued back to the agency or end client for the gross rate plus employment costs (employer’s National Insurance, Apprenticeship Levy, employer’s pension) and margin.
Once payment for the invoice is received from the agency or end client, ICS PEOple then deducts tax & National Insurance and pays to directly HMRC along with gross pay to the contractor. The contractor receives a ‘traditional’ payslip rather than an Umbrella payslip. See the ICS PEOple Guide for more information.
ICS PEOple BENEFITS
Easy to use and compliant
Full IR35, MSC and AWR compliance
References for mortgages etc
Workplace pension and holiday pay
Contractors texted when paid
Alternative to umbrella solution
Reduced operating costs
Dedicated account management
Full employment rights
As an employee of ICS PEOple, you will also receive access to our PEOple benefits portal, where you can access:
Payslips & Pension: Online access to payslips and pensions platform
Discounts: Hundreds of money-saving offers for shopping, travel, leisure and going out
Medical: Access to consultations with a GP either online or by phone 24/7 and an email prescription service.
Health: Health info database covering over 700 topics plus an online health assessment
Care: Advice, services and products for you and your loved ones’ care needs
Fitness: Discount memberships at over 3,000 gyms
Insurances: Going on holiday and need travel insurance, or want to cover yourself with personal injury and life insurance.
Support: Specially selected health and wellbeing insurance products