NEW CONTRACTORS
Contracting - The start of something exciting
The world of contracting is fast paced, exciting and rewarding. For the first time you are largely in control of where you work, when you work and how much you earn. You have probably already registered with a recruitment agency to find work but now need an umbrella company to process your billing and make sure your taxes and administration are handled efficiently and correctly. No doubt, it’s probably the first time you have come across an umbrella company and unsure what it is and why you need one.
An umbrella company will act as your employer. This means that if you are registered with an agency, they will find you your assignment with a client but it is the umbrella company that ultimately pays and looks after you as an employee.
We’ll handle your administration, calculate your tax and NI contributions and pay them away to HMRC. Simultaneously you will be paid swiftly and accurately and if you have any questions then our experienced payroll team are on hand. We will also ensure that for each assignment you have there will be a contract in place to safeguard and protect your interests.
Once you are set up with Quick Pay we will contact your agency to let them know we are involved. Then the process is as follows:
1
Agency Contact
Your agency will let you know details of your assignment i.e. who your client is, where you are to supply your services, the hours you will work and how much your rate is.
2
Invoicing
When it comes to billing for your hours, you will let your agency know by completing their timesheet. At the same time let us know your hours and we will raise an invoice for your time spent on the assignment and send it to the agency.
3
Payment
We will chase for the invoice payment and when it is received we will process it and deduct the relevant employment taxes, our fee and pay you the net figure directly into your bank account via faster payments.
4
Payslip
You will receive a payslip detailing your gross pay, relevant deductions and net pay.
If you switch over to a new agency simply let us know so that we can make contact with them and ensure that the correct contracts are in place before you work.
By working through an umbrella company all your contracting engagements are under one cover, so you don’t have to worry about breaks in employment or emergency tax on your earnings.
