Payroll services – the easy way to get paid as a contractor
Are you a contractor working on assignments? Join Cool Company and benefit from our simple payroll solution!
We offer you an easy way to get paid as a contractor, so you have more time to focus on your work.
- Create your Employee Account
- Quick setup, ready to invoice in under 15 minutes
- Transparent pricing with a fixed margin per timesheet
How do payroll services work?
Cool Company will manage your payroll and all client invoicing. With three simple steps you can get paid by your client compliantly and hassle-free:
Secure your own assignments.
As an employee of a payroll company, you keep the freedom of choosing your clients. Just register your assignment in our portal.
Submit your timesheet.
Record and submit the time you have worked. We will convert this into an invoice to your client.
Get paid. We handle everything else.
As soon as your client pays the invoice, we deduct all taxes, national insurance, and pension. Then we pay you the rest as your net income.
Calculate your salary
You invoice £
What you get: £1,274
You live in:
*DISCLAIMER: This illustrative calculation has been prepared to the best of our knowledge and belief on the basis of the information supplied to us. However, actual results may vary from the illustration and any variation may be materially positive or negative.
|Tax, National Insurance & Pension|
Trusted by over 70,000 contractors and businesses
*) E.g. you raise a timesheet that stretch over one week or one month.
You only pay our fee when your sent invoice is paid.
Why choose Cool Company as your payroll solution?
- Easy timesheet recording, with everything in one place
- Same day payments on all payments to you
- Friendly personal support through phone, chat, and email
PAYE done right!
- All taxes and national insurance deductions made and reported to HMRC. Ensuring you’re compliant and free from risk – no self-assessment tax returns
- Comprehensive insurance cover including Public Liability, Professional Indemnity and Employers Liability
- Access to all employment rights including SSP, SMP/SPP and holiday pay
- No more IR35 worries – when using our payroll services, you are outside the scope
Feedback from our users
Good Support & Service – If you want to work as consultant without setting up your own company, Cool Company is a very good choice.
Great service and very smooth payment system!
Payroll services UK –
Some frequently asked questions
Payroll services are provided by umbrella companies who employ agency contractors working on temporary contract assignments, usually through recruitment agencies. Agencies use this type of payroll management to help contractors get paid compliantly. Read more about how an umbrella company works.
Payroll solutions help contractors who do not want to have their own company or deal with self-assessments. The payroll company will be your employer and pay you via PAYE.
As a payroll company, Cool Company helps you with all of this:
- Management of all reporting and submission to HMRC on your behalf
- Paying your salary onto your account, with taxes already paid
- Invoicing your client for the work you have completed
- Providing insurance cover for your assignments
- Transparent pricing fixed per timesheet
The Cool Company margin is £22.50 per week or £80.00 per month per timesheet processed. This includes our dedicated payroll management, insurance cover, and personal support. Learn more about our Pricing & Plans here.
Once employment costs, Cool Company’s margin, and your personal deductions are made, you will receive your net payment which is typically between 60-65% of the invoices amount. With our calculator, you can easily check how much you will get paid.
You will receive your payment once your client has made the payment. All payments are made via same Faster Payment® and will usually be in your account within 24 hours.
By using our payroll services, contracting becomes as simple as a traditional job:
- We are your employer for the temporary assignments you undertake.
- We take care of all the administration for you.
- As your employer we submit all reports to HMRC on your behalf.
- We handle all tax and national insurance deductions.
- We provide insurance coverage on your assignments.
As a contractor employed by a payroll company, you can concentrate fully on your assignments. You can let go of all the administration that comes with managing your own company. Here you can read more about the differences between self-employment and a payroll company aka an umbrella company.
Need some guidance?
Not sure how to create an account, complete your profile, create an assignment, or raise a timesheet?
Sign up with us today!
Join the 70,000 + contractors using our service. With no obligation or subscription fees, you have nothing to lose. All taxes paid for you. Easy, simple, peace of mind.