PAYE is a method for contractors based in the UK to pay income tax and National Insurance. Morgan McKinley operates a weekly PAYE payroll for its contractors.
The Pay As You Earn system, also known as PAYE, is a method of paying income tax and National Insurance in the United Kingdom. Morgan McKinley is responsible for calculating and deducting tax and National Insurance contributions before paying wages to contractors. The amount of tax and National Insurance paid is entirely dependent on the salary of the individual.
Once an individual is successful with a new placement, our dedicated Contractor Experience Team (email@example.com) will support them through the onboarding process. They will receive an onboarding pack via email which explains the timesheet, holiday pay and pension processes. They will also be introduced to the Gateway, Morgan McKinley’s online contracting portal which provides secure access to assignment information.
Morgan McKinley operates a weekly PAYE payroll. The deadline for timesheet submission and approval is every Monday before the close of business for the previous week. Payment will then reflect on the Friday, a week in arrears.
Holiday balances are built up the more hours a contractor works. The balance is updated each week (in monetary value) on their payslip. The amount of hours owed can be calculated by taking the balance and dividing this up by the pay rate.
Once a Manager approves an annual leave request, contractors can liaise with the Contractor Experience team to claim holiday pay. Further details of this process is explained in the onboarding pack.
Contractors are entitled to bank holidays throughout the year whilst on placement with Morgan McKinley but we must be informed if an individual wants holiday hours released to them following the holiday pay process. This is explained in the onboarding pack.
Unfortunately, individuals are not entitled to any enhanced pay as temporary contractors but may be entitled to statutory sick leave if they are sick for 4 consecutive days of more. For more information on this, please contact our Contractor Experience Team who will be happy to assist.
By law, Morgan McKinley must automatically enrol all eligible employees after 3 months into a pension scheme. Once 3 months have passed and the contractors details have been assessed for eligibility, they will receive a pack in the post from NEST, the workplace pension body. They are then able to choose to Opt Out of the auto-enrolment, details of which is explained in the onboarding pack.
For more information you can view our pension guide here.