Your guide to being a first timer
OK, so you’re a new contractor and no doubt you’ve been bombarded with information, and perhaps you’ve even spent hours researching all the possible options. Or, if you’re one of the lucky ones, you found us first. We’re not here to confuse you with technical jargon and complicated ‘consultation processes’, we just want to give you the facts, and help you get started.
Firstly, you might be wondering why you need to use an organisation like us in the first place. Why doesn’t your agency or end client take care of everything? Well, they could do, but quite simply, it would cost them much more money. So instead, they put their trust in us to take care of it.
These are your options:
Umbrella Company is a term used to describe an organisation that takes care of your employment during your temporary assignments. It’s that simple. You become a permanent employee, and the umbrella company manages contracts in order for you to get paid simply, and legally. that’s exactly what your umbrella does, allowing you to receive your pay, and stay tax bill free. Sign up today, tell us what we need to know – we only need a couple of bits of information - then we put all the paperwork in place for your assignments, and help you as much or as little as you need. We take all your taxes at source, so you have nothing else to worry about. Simple!
Limited Company is an altogether different option. If you’re a career contractor, this is a good one for you. You become a director and shareholder of your own company, and hire an accountancy service to take care of whichever parts of the administration you need help with. The important part of this route is that you remain responsible, yes, it’s your psc. This option is perfect for people who are genuinely self-employed – it means you don’t have to act as an employee of your client, and enjoy extra in your pocket too.
Being a sole trader is a good way to run your own business too, but without having a limited company of your own to manage and be responsible for. You receive your money gross as a sole trader, and need to make sure you keep enough to one side for your end of year tax bill. The good news is that with your sole trader, you’ll get all the inside knowledge on how to do just that. Again, you need to make sure you’re self-employed for this option, but we can give you indicators on that too. Leave it to us.
If you’re a construction worker, you’ll know all about the Construction Industry Scheme. The good news is that we do too. Register with us, give us your unique tax reference number and leave the rest to your cis.
So, why choose us? Being serious for just a minute, it’s your money, your income. Now, we don’t need to tell you how important it is that it’s kept safe and secure before it gets to you. We are constantly being checked by all the right people in the industry to make sure that everything we do and say is accredited by experts. We work with the best agencies and employers in the UK which speaks volumes about their trust in us. We provide you with an all singing, all dancing portal service to track everything, a bit like online banking. So if you can’t sleep and want to check your pay status, or read your contract (trust us, it’s better than counting sheep) you’re only ever a few clicks away.
Our expertise means it’s your choice. If you want to know more, it’s all available for you on our website, right here. Or pick up the phone, we’re nice.