KNOWLEDGE HUB

As a PAYE contractor, you are employed by Ovio and we contract your services to your recruitment agency or client who place you on assignments. 

PAYE is a simple, flexible way to get paid. You get PAYE tax and National Insurance (NIC) deducted at source and pay into an approved workplace pension. You are also entitled to statutory benefits including Statutory Sick Pay (SSP), and Maternity or Paternity Pay (SMP/SPP). 

Being employed by us means you don’t have to worry about anything, it also gives you continuity of employment, which is important if you want to apply for a mortgage or other type of finance.

Depending on the assignment people are working on, they may be paid weekly, monthly, fortnightly or on a project-by-project basis. Most employees are paid weekly, one week in arrears, every Friday (but we are flexible). 

In most cases pay will clear accounts on Friday mornings, but it can take up until 6pm to clear depending on the bank.

Employees are entitled to holiday pay. This is a pro-rated minimum amount of 28 days annually. Typically, we retain this until you take time off, or until your employment ends. However, you may choose to have this on an advance basis, paid alongside your normal wage each time you get paid.

This is a deduction from the Assignment rate, which we are required to make as an employer. This is paid straight to the HMRC. 

All employees of ours between 22 years old and state pension age, earning more than £10,000 per year, are automatically enrolled into our approved workplace pension scheme.

Contributions are made before tax is calculated, make it a tax efficient way to save for retirement. We encourage all our employees to consider long term saving; however they have the right to opt out if they wish. 

We also offer salary sacrifice pension option for those who wish to save more into their pension pot and take advantage of the associated tax efficiencies.