There are just over 1.6 million temporary workers in the UK and many of them are found in the public sector. If you’re employing talent in this way to fill the gaps in your rota and bring in the skills you need, you’ll want to know they’re getting the right support.

With +Us being part of the Brookson Group we offer specialist services to contractors to ensure they’re getting the most out of being part of the contingent workforce.

Umbrella Solution

An umbrella company solution allows workers a level of security in their contracting life. They’re paid accurately and on time, with paperwork and tax contributions worked out for them. It’s an arrangement particularly well suited to freelancers taking on shorter assignments, enabling them to focus on the job while all the financial considerations are taken care of.

Limited Company Service

Deciding to work through a limited company can be a tax-efficient option for your contractors, as it reduces their liabilities. However, It does come with a number of responsibilities, so they’ll likely require a contractor accountant that can help with the admin and nuances of contracting through a limited company.

Flex

IR35 is likely to be one of the issues your contingent workforce is most concerned about. Recent changes to the legislation mean status determination no longer sits in the hands of the worker and is instead decided upon by the end hirer. This can leave contractors feeling they no longer hold any control. Flex is a solution that enables workers to switch between umbrella and limited companies within the same financial year to maximise their take-home pay while still being compliant.

Pensions

Navigating pensions as a temporary worker can seem daunting, but it’s an important part of financial planning, so your contractors shouldn’t overlook it. Undertaking a review of their finances, setting goals and objectives and working out the best way to prepare for their retirement will help break it down into manageable steps.

Mortgages

It’s a misconception that self-employed workers can’t get a mortgage, but they may require specialist help to do so. Having support to explain their employment status and provide the additional evidence needed to get on the property ladder, remortgage or even buy-to-let will cut down the stress for your contractors. Not meeting the standard criteria of lenders can seem like a hurdle, but it’s not insurmountable.

Investments

Building an investment portfolio can be an effective way for temporary workers to gain financial security and make the most of tax allowances. Your workers will want to discuss their options with an expert in this area, who will take risk, tax legislation and financial goals into consideration before investing in the most efficient way possible.

Supporting contractors

As the public sector’s reliance on a contingent workforce doesn’t look likely to let up anytime soon, it’s important for hirers to understand the challenges faced by these workers. That way, you can help attract talent to your organisation and ensure a supply of appropriate skills to keep your services running for the public.