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Christmas Updates

Posted 17-12-2013 by Ifan

Express Payments over Christmas

Our Express payment service which gets payment to you by 1pm will not be available during the Christmas Period (27 December – 31 December).

We will process Express Payments again from Wednesday 2nd January 2013.

Christmas Opening Hours

The office will be closed from the 27th of December until the 2nd of January 2014 for phone and expense processing.

Payments will be made on 24, 27, 30, 31 December providing cleared funds reach our bank account by 11.00am and are accompanied by a remittance advice.

Expense Receipts for payments during the Christmas Period

Please send any receipts, and enter corresponding claims, to reach the office by 18 December for expenses to be included on payments between 23 December and 2 January 2014.

Thank you for your support in 2013 and we look forward to working with you in 2014!

New Deals for Contractors

Posted 17-07-2013 by Ifan

The heat must have got to us here at Redego – what else could explain the fact that we are practically giving money away with our two new deals!?

£100 Refer a Friend!

What could be better than receiving £50 for doing no more than referring a friend to our service?

Knowing that the person you referred also received £50 AND is now benefiting from our great service, just as you are!

Fill in this form to refer a friend.

It’s Fun to Introduce!

We at Redego regularly encounter new recruitment agencies through contractors that have benefited from our umbrella service. To build on this, therefore, we have recently launched a rewards scheme aimed at any contractor that introduces a new recruitment agency to us. You will receive a £50 fee refund when you begin a contract (must last six weeks or longer) for an agency with whom we have never had any previous dealings with. You will be notified by email should you qualify.

New smartphone app – send in your mileage claims and fuel receipts by text!

Posted 07-05-2013 by Ifan

As you currently submit mileage claims and send your fuel receipts by post, to make life easier we’ve developed a smartphone app to help ease the administration

If you have an Android phone (2.2 or above) or an iPhone you can download the app for free and submit your fuel receipts from your phone. Rest assured the iPhone version is coming soon.

This is the first version which we are releasing to our clients. It has been extensively tested, but please let us have your feedback. We’ll be extending the functions soon, so you will be able to send other receipts and enter claims on your phone.

Submit mileage claims and fuel expenses with our iPhone app

Submit mileage claims and fuel expenses with our Android app

Working Time Regulations

Posted 11-02-2011 by Ifan

Redego are now able to offer real-time reporting of working hours to agencies.  This enables agencies to ensure that the Working Time Directive (WTD) regulations are being complied with and the added ability to plan future projects with reference to hours worked.
“Agencies can view reports showing which contractors are close to exceeding their maximum average hours” states an Redego spokesperson.  “this makes compliance and planning much easier for agency consultants.  Whilst we always ensured our workers are given their statutory rights, this new system shows agencies and their clients that we are doing this and gives them the ability to use the data to plan furture work.”
The new online system is especially useful for workers on project rates where it has been difficult to monitor rest breaks.  “Its proving particularly popular with agencies who engage manual workers on project rates – the risks of injury and reducing quality of work are much greater for these categories and end-clients want to know its being managed properly.
The new online system lets workers input their rest breaks with the click of a mouse as they submit their timesheet and is very simple for contractors to use.
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Under the WTD regulations, all employers have to ensure that workers have adequate rest-breaks:
maximum hours worked – avg 48 per week in 17 week rolling period
adequate rest breaks, so workers do no more than:
13 hours in any 24 hour period (day) – cap of 13 x 6 = 78 hours
1 days off (rest days) in every 7 day period (week)
statutory minimum holiday periods (28 days not working in addition to ‘rest days’)
Whilst this is the responsibility of the employer (the umbrella company), most clients and agencies reckonise their responsibilty in ensuring they only use compliant umbrella companies that can show they are acting responsibly to protect workers’ welfare.
Another benefit of the new system is greater accuracy when calculating contractors’ National Minimum Wage (NMW) which is a key contractual element of remuneration in most umbrella companies.  Getting this wrong, can attract attention from HM Revenue & Customs (HMRC) both on breach of NMW legislation but also PAYE/NIC compliance as contractor expense claims are invariably affected by minimum wage.

Redego are now able to offer real-time reporting of working hours to agencies.  This enables agencies to ensure that the Working Time Regulations (WTR) are being complied with and the added ability to plan future projects with reference to hours worked.

Agencies can view reports showing which contractors are close to exceeding their maximum average hours.  This makes compliance and planning much easier for agency consultants.  Whilst we always ensured our workers are given their statutory rights, this new system shows agencies and their clients that we are doing this and gives them the ability to use the data to plan future work.

The new online system is especially useful for workers on project rates where it has been difficult to monitor rest breaks.

Its proving particularly popular with agencies who engage manual workers on project rates – the risks of injury and reducing quality of work are much greater for these categories and end-clients want to know its being managed properly.

The new online system lets workers input their rest breaks with the click of a mouse as they submit their timesheet and is very simple for contractors to use.

Under the WTD regulations, all employers have to ensure that workers have adequate rest-breaks:

  • maximum hours worked – avg 48 per week in 17 week rolling period
  • adequate rest breaks, so workers do no more than:
    • 13 hours in any 24 hour period (day) – cap of 13 x 6 = 78 hours
    • 1 days off (rest days) in every 7 day period (week)
    • statutory minimum holiday periods (28 days not working in addition to ‘rest days’)

Whilst this is the responsibility of the employer (the umbrella company), most clients and agencies reckonise their responsibilty in ensuring they only use compliant umbrella companies that can show they are acting responsibly to protect workers’ welfare.

Another benefit of the new system is greater accuracy when calculating contractors’ National Minimum Wage (NMW) which is a key contractual element of remuneration in most umbrella companies.  Getting this wrong, can attract attention from HM Revenue & Customs (HMRC) both on breach of NMW legislation but also PAYE/NIC compliance as contractor expense claims are invariably affected by minimum wage.

Same-day, every day payment without extra cost.

Posted 01-02-2011 by Ifan

Redego is unique in that it provides real same-day, every day payments without extra cost. Other umbrella companies say they offer ‘same-day payments’ but this often means something other than the Redego offering.

  • One large umbrella company – will pay same-day for an extra fee.
  • Another large umbrella company – pay ‘same-day’ but on the day after receipt.
  • Others – pay by same-day but only on one particular day per week.

Redego pays same-day, every working day (we haven’t missed a day!).

Our customer service promise is to pay contractors’ cleared funds into their bank account on the same-day we receive funds from their agency.

Redego Group Pension scheme: Reducing Tax & NI

Posted 02-07-2010 by Ifan

Find out more about “salary exchange”.

Redego clients can significantly reduce the deductions made by the taxman using what is known as a ‘salary exchange’ arrangement. Payroll can transfer funds from your gross contract into the new Redego Group Pension scheme and the taxman won’t receive a penny of this money.

These transfers to the pension scheme represent a key way to ensure that you work as tax efficiently as possible through Redego.

There are no set up costs whatsoever to join the pension and because you reduce not only income tax but also employers and employees National Insurance as well, the Redego scheme is far more effective than any existing arrangements that you may have access to. The rate of deductions saved, even for basic rate taxpayers, is 38% and can be as high as 68% for those who pay the highest rate of income tax.

Joining the scheme couldn’t be easier via telephone, post or email and you can stop contributions at any time without penalties. Should you eventually leave Redego, your fund can either be left invested or you can continue to add to it via a personal investment or via a new employer. Alternatively it can be transferred out to another pension scheme.

In order to bring you this fantastic tax saving opportunity, we are working closely with ContractorFinancials who are Independent Financial Advisers with a unique understanding of the way that you work as a Freelancer. They aim to ensure that you have the knowledge to make the most of your current employment status, helping you to maximise any available tax breaks and avoid any potential pitfalls that you may face.

Pension specialist Andrew Gains explains

“As well as the substantial tax savings to be gained by diverting part of your invoice into the Redego scheme, pension funds held elsewhere can be consolidated within this single scheme and could enjoy potentially far better performance and lower running costs. As independent advisers we can compare schemes for you and we ensure that the new pension scheme provider will levy no charges for accepting such transfers”

Contact Andrew Gains today on 0845 062 8888 or email redego@contractorfinancials.com for further details.

Avoid the 1% National Insurance hike in April with the Redego pension scheme

Posted 08-04-2010 by Ifan

As part of our mission to help contractor’s work as tax efficiently as possible, here we look at how Redego clients can avoid the National Insurance (NI) increase that is due in April whilst, at the same time, saving for retirement.

Unlike a permanent employee, many Contractors pay both employer’s and employee’s National Insurance on earnings.  This means that the 1% hike expected in April will have a noticeable effect on a Contractor’s take home pay.

The good news is that the Redego Pension Scheme provides a great opportunity to reduce a contractor’s total tax deductions.

By transferring a portion of your income into the personal pension scheme a basic rate tax payer saves upto 39%. Higher rate tax payers can save between 49% and 69%.

This ‘Salary sacrifice’ can counteract the 1% increase by reducing the Income Tax and NI normally paid on earnings.

Why Choose Redego’s Pension Scheme?

Redego works with IFA ContractorFinancials to provide a pension scheme with as much flexibility as possible, allowing contractors to change contributions to match a their contract’s earnings at any time. There is total freedom to decide how much is transferred and contractors can pause contributions at any time.

If a contractor decides to leave iBalance then the pension can either be left to grow, or closed completely with funds moved elsewhere.

The legislation surrounding annual allowances for pension tax relief are changing in April and the new allowance will be £50,000 (down from its current level of £255k).  However, this still offers significant scope for most investors.

Independent Advice Without Pressure

There are no set up costs when joining the Redego group personal pension scheme and the pension advisers at ContractorFinancials are independent of any one company. This allows Redego contractors to take advantage of a full review of any existing pensions in place.  Then, if it makes sense to do so, the advisers will assist in transferring any existing funds over to the Redego pension.

To speak to a pension adviser about the Redego group personal pension or for more information on the scheme, call 0845 062 8888 or email Redego@contractorfinancials.com and an experienced pension adviser will be in touch.

Using LinkedIn to secure your next contract

Posted 07-03-2010 by Redego

Linkedin has been dubbed ‘Facebook for grown-ups’ and is an online network of more than 8.5 million experienced professionals from around the world representing 130 industries. Its possibilities for job hunting are vast, and a number of Redego’s contractors have secured contracts via this social networking site.
However, for many users, it is a tool that is under-utilised, so I’ve compiled a top-ten list of ways to increase the value of LinkedIn.
1. Increase your visibility.
By adding connections, you increase the likelihood that people will see your profile first when they’re searching for someone to hire or do business with. In addition to appearing at the top of search results (which is a major plus if you’re one of the 52,000 product managers on LinkedIn), people would much rather work with people who their friends know and trust.
2. Improve your connectability.
Most new users put only their current company in their profile. By doing so, they severely limit their ability to connect with people. You should fill out your profile like it’s an executive bio, so include past companies, education, affiliations, and activities.
You can also include a link to your profile as part of an email signature. The added benefit is that the link enables people to see all your credentials, which would be awkward if not downright strange, as an attachment.
3. Improve your Google PageRank.
LinkedIn allows you to make your profile information available for search engines to index. Since LinkedIn profiles receive a fairly high PageRank in Google, this is a good way to influence what people see when they search for you.
To do this, create a public profile and select “Full View.” Also, instead of using the default URL, customize your public profile’s URL to be your actual name. To strengthen the visibility of this page in search engines, use this link in various places on the web> For example, when you comment in a blog, include a link to your profile in your signature.
4. Enhance your search engine results.
In addition to your name, you can also promote your blog or website to search engines like Google and Yahoo! Your LinkedIn profile allows you to publicize websites. There are a few pre-selected categories like “My Website,” “My Company,” etc.
If you select “Other” you can modify the name of the link. If you’re linking to your personal blog, include your name or descriptive terms in the link, and voila! instant search-engine optimization for your site. To make this work, be sure your public profile setting is set to “Full View.”
5. Perform blind, “reverse,” and company reference checks.
LinkedIn’s reference check tool to input a company name and the years the person worked at the company to search for references. Your search will find the people who worked at the company during the same time period. Since references provided by a candidate will generally be glowing, this is a good way to get more balanced data.
Companies will typically check your references before hiring you, but have you ever thought of checking your prospective manager’s references? Most interviewees don’t have the audacity to ask a potential boss for references, but with LinkedIn you have a way to scope her out.
You can also check up on the company itself by finding the person who used to have the job that you’re interviewing for. Do this by searching for job title and company, but be sure to uncheck “Current titles only.” By contacting people who used to hold the position, you can get the inside scoop on the job, manager and growth potential.
By the way, if using LinkedIn in these ways becomes a common practice, we’re apt to see more truthful resumes. There’s nothing more amusing than to find out that the candidate who claims to have caused some huge success was a total bozo who was just along for the ride.
6. Increase the relevancy of your job search.
Use LinkedIn’s advanced search to find people with educational and work experience like yours to see where they work. For example, a programmer would use search keywords such as “Ruby on Rails,” “C++,” “Python,” “Java,” and “evangelist” to find out where other programmers with these skills work.
7. Make your interview go smoother.
You can use LinkedIn to find the people that you’re meeting. Knowing that you went to the same school, plays hockey, or shares acquaintances is a lot better than an awkward silence after, “I’m doing fine, thank you.”
8. Gauge the health of a company.
Perform an advanced search for company name and uncheck the “Current Companies Only” box. This will enable you to scrutinize the rate of turnover and whether key people are abandoning ship. Former employees usually give more candid opinions about a company’s prospects than someone who’s still on board.
9. Gauge the health of an industry.
If you’re thinking of investing or working in a sector, use LinkedIn to find people who worked for competitors—or even better, companies who failed. For example, suppose you wanted to build a next generation online pet store, you’d probably learn a lot from speaking with former Pets.com or WebVan employees.
10. Track startups.
You can see people in your network who are initiating new startups by doing an advanced search for a range of keywords such as “stealth” or “new startup.” Apply the “Sort By” filter to “Degrees away from you” in order to see the people closest to you first.
11. Ask for advice.
LinkedIn’s newest product, LinkedIn Answers , aims to enable this online. The product allows you to broadcast your business-related questions to both your network and the greater LinkedIn network. The premise is that you will get more high-value responses from the people in your network than more open forums.
Redego staff Lewis Grimwood and Jon Boon can both be found via linked in. Add us as contacts so we can feel popular!

Linkedin has been dubbed ‘Facebook for grown-ups’ and is an online network of more than 8.5 million experienced professionals from around the world representing 130 industries. Its possibilities for job hunting are vast, and a number of Redego’s contractors have secured contracts via this social networking site.

Over 50’s can invest £10,200 tax free!

Posted 04-11-2009 by Redego

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On 27th October a new ISA limit came into force for the over 50’s which allows you to invest up to £10,200 in a tax efficient ISA. In booming markets this gives baby boomers the chance to cash in before the new limit is rolled out to all investors in April 2010.

£10,000 free life cover for new parents!

Posted 08-10-2009 by Redego

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As a Contractor, you may not have replaced your lost ‘death in service’ benefits that you used to benefit from as a ‘permi’. But when you become a parent the safety net that this cover provides becomes vital to protect your children if the worst should happen.
With this in mind, we can now offer life cover worth £10,000 absolutely free to new parents.
The joy of becoming a parent is often accompanied by an overwhelming feeling of responsibility for your new born. You begin to consider how you will create a safe home environment for your baby and how you will protect it if anything should happen to you. It’s easy to forget the importance of life cover when you get caught up in the excitement of a new baby, but with free cover for new parents it need not be a financial burden. The award winning protection advisers at ContractorFinancials can help you to arrange the cover without any hassle so you have more time to enjoy the important things.
How does the cover work?
Life cover offers an essential safety net to Contractors because if you die then it will pay out a lump sum or an agreed income to cover your families expenses and pay off any debts. At an already traumatic time, life cover offers the peace of mind for your dependents that they are protected financially and prevents them from being liable for any debts you leave behind.
You can insure yourself for a certain period in your life, for example until your children leave home, or you can choose a whole of life policy that will pay out no matter how old you are when you die. The insurance can be inflation proofed to ensure that the amount paid out upon death will be worth the same amount in spending terms as when you decided to take out the policy. This is particularly important for a whole of life policy as £100,000 now would hold a very different value in 30 years time.
The offer of £10,000 free life cover applies to new parents and as such you need to register for the cover before your baby is six months old. The offer applies to both parents and is per child so when you and your partner have a baby you can claim £20,000. If you are lucky enough to have twins then you can claim £40,000 free life cover and so on.
It is possible to take out excess cover on top of your free cover which you will need to pay monthly premiums on. We would advise Contractors to have enough cover in place to pay off any outstanding debts and also provide a safety net for your family to fall back on if the worst should happen. The free cover will end on the child’s first birthday by which time you should be back on your feet financially and able to take on the repayments which will be relatively low on this level of cover. Our advisers will be on hand to help you arrange an affordable cover to suit your individual needs.
How do I arrange the cover?
It is quick and easy to arrange your free life cover with ContractorFinancials. The award winning protection advisers will take your application details over the phone and the entire process can be completed via email, telephone and post. So you can arrange the right protection for your family without the hassle of a face to face meeting at this already hectic time.

As a Contractor, you may not have replaced your lost ‘death in service’ benefits that you used to benefit from as a ‘permi’. But when you become a parent the safety net that this cover provides becomes vital to protect your children if the worst should happen.