COVID-19 support for recruitment agencies
with strategic finance, accounting and
pay & bill solutions

The coronavirus pandemic and the subsequent lockdowns have had a major impact on the recruitment sector.
Agencies specialising in supplying staff to retail, hospitality, education, and travel & leisure sectors have witnessed a major slump in demand. On the other hand, agencies catering to healthcare are facing difficulties in finding enough candidates to meet the overwhelming demand.
Some agencies are short staffed and do not have enough workforce to deliver the volumes their clients are demanding. For others, cash flow woes, in additional to the difficultly of obtaining finance, are exacerbating Covid-19 related issues.
QX stands with the recruitment sector in this difficult time, with finance, accounting and payroll support that will enable your organisation to overcome these the most pressing challenges.

Pay & bill support for agencies

Paying permanent and temporary workers correctly and on time is crucial in these difficult times. QX continues to provide pay & bill processing support to its clients in the recruitment sector. Our trained payroll professionals specialising in UK pay & bill can provide you with the support or advice you require to run your operations smoothly. We can help you with:
Timesheet Processing
IR35 deemed payroll
Weekly/monthly payroll
Statutory deductions
Customised payroll reports
RTI submission and statutory compliance
Client Invoicing
If you are facing staffing related issues and want any support on a long-term or short-term basis, please do not hesitate to get in touch with us.
Julian Barford
Finance Manager, Your World Recruitment Group
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Delivering £6.5 million cost savings through successful payroll and accounts outsourcing relationship

Payroll Services for Recruitment Agencies

Finance & accounting support for agencies

We understand that many agencies are facing staffing issues owing to staff unable to work from home, or on leave to take care of their family or themselves. If you are missing any key resources in your finance & accounting team and need a helping hand, you can consider accessing our large pool of talented UK accountants and credit control specialists. We can help you with the right resources for:
Credit control
Accounts payable
Management accounts
General accounting
And more…

David Taylor
MD of Medacs Global Group
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Delivering cost efficiencies to NHS trusts through efficient payroll processing

Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS) and Coronavirus Large Business Interruption Loans (CLBILS) provide financial support to businesses across the UK that are losing revenue, and seeing their cash flow disrupted, as a result of the COVID-19 outbreak. The government has extended the scheme to cover larger businesses and Personal Guarantees are no longer required for loans less than £250,000.
This loan can provide a lifeline to UK recruitment agencies facing cash flow issues; however, preparing and submitting documents for the viability test to prove ability to service the loan is a challenging ask. While the final outcome will depend on the condition of your business and the criteria laid down by the lender, QX can help you create an effective application for loans up to £250,000. Our key services include:
Filling-up loan application form
Choosing flexible repayment structures
Cashflow forecasts preparation
Management Accounts preparation
Compile documents/records supporting your loan application

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10 things you need to know

Coronavirus Job Retention Scheme (Furlough)

The Job Retention Scheme allows eligible businesses to access a grant that covers 80% of furloughed employees usual monthly wage costs, up to £2,500 a month. While it is a temporary scheme in place for 4 months starting from 1 March 2020, it may be extended if necessary.
Preparing the applications may place additional administrative burden on already depleted teams. QX can provide you with the support prepare and apply for the Job Retention Scheme:
Determine your eligibility
Prepare and submit documentation for claims
Submit claims on your behalf

10 things you need to know

For more information and expert advice, please get in touch with us