Umbrella margin levels
The umbrella margin is charged in line with the invoicing frequency for the assignment, whether weekly, fortnightly or monthly.
How the umbrella margin is communicated to the employee
The given margin level for an assignment is discussed in the welcome call and stated in writing in the Joining Plan (if the invoicing frequency is known). If the invoicing frequency is not known at this stage, the margin is confirmed to the employee in an email as soon as they are able to let us know the invoicing frequency.
The margin levels are not displayed publicly on the Competex Pro website.
How the umbrella margin is deducted
The umbrella margin is deducted automatically via our payroll software whenever a pay run is made.
The margin is deducted as a ‘cost of employment’, from the total umbrella day rate, after which the other costs of employment are deducted, such as Employer’s NI, Employer’s Auto-Enrolment Pension Contributions, and the Apprenticeship Levy.
Is the umbrella margin all-inclusive or are there extra margins charged for extra services?
The umbrella margin is all-inclusive, making up the total cost to the employee for the complete employment service provided to them by Competex Pro. There are no additional services provided and no other margins charged to any employee of Competex Pro at any time.
Any service provided by Competex Pro that might be perceived as ‘additional’, for example if the employee wishes to opt into personal pension contributions via salary sacrifice, are included in the umbrella margin as stated above, which is discussed with the prospective employee upon joining and transparently communicated in the Joining Plan or a subsequent written communication.
Is the umbrella margin ever subject to discounts?
Competex Pro may, from time to time, run seasonal offers, comprising a discount on the umbrella margin. We may also run incentives for referrals, which would also comprise a discounted margin. Lastly, Competex Pro may offer a discounted margin to employees referred by agencies with which Competex Pro has a pre-existing business to business arrangement.
Such discounts are completely non-discriminatory and do not take the employee’s demographic profile into account.