A Professional Employer Organisation, referred to as a ‘PEO’, is an outsourcing company structured to help businesses maximise their worth, via consolidated VAT exempt HR and Financial Services.
PEO is an American business outsourcing model which has had huge success for many years, hence its popularity in America, where this model has grown by 8% year-on-year since 2008.
The PEO model reduces your overheads and your potential risks. As an example, payroll is a particular time consuming but critical function, that does not generate additional profits, but does attract HMRC penalties if there are errors.
With the recent legislation changes regarding employment status and expenses, it has never been more important to ensure your payroll is handled by professionals, who can demonstrate expert knowledge of the UK recruitment industry. To help you understand the benefits of the PEO model, we have compiled a number of PEO FAQ’s.
If you’re just starting out, you will find our Starting Out video useful, or if you are growing fast, you could need either extended credit or invoice finance. JMK offers both options to help with your cashflow.
Extended credit would allow you to have increased payment terms with us, while still guaranteeing your workers are paid on time.
With JMK’s Invoice Finance, you could release a portion of the invoice amount your client owes you early. This allows you to use these funds well before they would be due.
Obtain a realistic and accurate picture of your company cash flow and finance requirements, with our intuitive business.
You can adjust many aspects such as the numbers of contractors; new contractors; average charges and pay; payment terms and a whole host of simple to use financial indicators.
Having a service that appeals to customers and clients is essential. JMK’s digital partner can help create a website for you that is customised to your requirements. They also specialise in other software solutions such as mobile apps and have created apps for industry recognised names.
Whether you’re looking for specialist and bespoke recruitment software, or other software that’s created specifically for your business and clients, we’ve got the solutions for you. Through our digital partners we can even provide in-depth training so that your staff can quickly get to grips with the software.
Whether you need to run payroll for yourself or your employees, our accountants or business advisors will be able to advise which service is best for you.
We offer contractor payroll if you have several temporary contractors on your books, or maybe PAYE is a better option, if you want to pay staff that work for you. We will remove the administration aspect from you and pay your staff for you in a compliant way.