Did you know that in the UK if you earn a certain amount you can legally save money on the tax that you pay? It’s a foreign concept for us back home as we pay tax without thinking without wondering how we could pay less. In the UK this is a very popular and effective way to earn a bit more every month and there are many companies out there who can help, some better than others.
We only recommend companies in this field that do this business right – there are a lot of cowboys out there so we do our homework so that you get wages and service as fair as possible.
If you work for a company that you think might fit well with our community, email us so we can have a chat!
First Freelance. They will discuss with you if they can save you money first and the best way to do so. They will inform you if it’s not worth your while and fill you in with all the legislation involved so that you don’t get any nasty surprises at the end of the tax year!
Before I pretend I know a lot about tax in the UK, I’ll admit this was something I had no clue about but even now I see the benefits of having a limited company. It costs nothing to ask and the team at First Freelance are very helpful!
More about First Freelance:
First Freelance provides market leading accountancy, tax, payroll and support services to freelancers and contractors operating across all sectors in the UK.
Their qualified accountants and tax advisers are specialists in contractor tax, which means they can help you operate in the most tax efficient way and comply with HMRC’s rules. They offer a portfolio of services to suit the needs of every contractor because they don’t believe in a one-size-fits-all approach. They offer a cutting-edge cloud platform, so you’re always on top of your finances from your smartphone, 24/7!
They are fully accredited members of the Freelancer and Contractor Services Association (FCSA), the industry compliance gold standard, and were recently awarded the Cabinet Award for Customer Service Excellence to contractors and freelancers.
Their senior management are all ex-recruitment, having worked up to Regional Manger level for national recruitment agencies; our FD spent 12 years working for Randstad CPE. It is this background that underpins everything they do and consideration is taken in terms of protecting our recruitment clients through compliance (they use only the best tax and employment advice through EY and have recently gained FCSA accreditation) and developing solutions and processes to align with the speed in which the temporary recruitment market operates.
Some key points to consider:
They have built their own worker CRM to help manage the worker registration process; it is fully electronic and a one-click process to accept contracts
Offer a fully disaster proof set-up to ensure business continuity (VDIs, back-ups over 5 UK data centres and app based phone system
They make payments at 2am Friday morning, allowing Friday to solve any payment queries and missing timesheets while also allowing same day payments to help those in financial strife
Only offer compliant solutions – no hybrid models, no loan schemes, no offshore
Are FCSA accredited (yearly audits by Ernst & Young)
Work with 100s of agencies across the UK including being one of the main national suppliers to two of the five largest recruitment agencies in the world
Only offer fully employed or self-employed (where applicable) solutions, outlined in the attached, with margins starting from as little as £12.85 per timesheet.
Minimum pay rate a worker can be on is £9.85 for under 25s, £10.45 for over 25s
Ideal for non-skilled workers or those under SDC who wish to make all necessary deductions weekly to HMRC
Margin is a maximum of £12.85/timesheet (includes full accident insurance)
Can include the holiday pay each week if required
PAYE but with expenses – would be applicable to certain skilled workers outside of SDC who still wish to make all necessary deductions weekly to HMRC
Can claim mileage expenses, but also accommodation, food etc
For workers not under SDC (supervision direction and control)
Liability is with Clipper Contracting – we will decide if can claim expenses
Our margin is £24.95 per timesheet, inclusive of insurances and full accident cover
For genuinely self-employed contractors working within the construction industry
SDC assessment developed in accordance with specialist tax and employment provider at Ernst & Young
Liability sits with the agency/client – Clipper would first need confirmation from the agency/client prior to offering
Our margin is a maximum of £22.50 per timesheet, inclusive of insurances
Set up and administration of limited companies, for those that would likely be outside of IR35
Use of ‘Qdos’ to carry out IR35 assessments for those within the public sector – indemnity insurance offered
Packages from £90+VAT per month
Full bookkeeping package available with our Executive package
If you have any questions or would like to see how they operate in more detail let them know at: firstname.lastname@example.org