Limited Company Contractors:
How do I submit my Timesheet if the end client doesn’t use a portal?
Once you are set-up on our system, you will receive an email notification which includes your log in details and a link to our timesheet system, Intime. You can access the timesheet system by clicking here.
You can view further guidance on how to submit your timesheet here.
What documentation do I need to provide for proof of bank details?
We will need a copy of your business bank statement which is dated within the last 3 months. As we cannot send funds to a personal bank account, we have to ensure that your business sort code and account number for your PSC matches the details you provide us with.
What does it mean if my contract is outside of IR35?
If you are operating outside of scope of IR35 then this means the agency can continue to pay the gross amount to your Limited Company which means through a combination of salary and dividends, it can be more tax efficient for the contractor. As the contractor operating outside of IR35, you will be responsible for your taxes and ensuring you comply with the regulations.
What does it means if my contract is inside of IR35?
If you are determined as an Inside of IR35 contractor by the end client then this means that your income is reclassified as employment income, as a result, PAYE and NI contributions must be deducted by the fee payer, whether this be the end client or the agency acting as the intermediary within the supply chain. We advise that all inside of IR35 contractors register with an Umbrella company on our preferred supplier list.
My role is outside of IR35, do I need to register with an umbrella?
Depending on your contract with the client, if the client is willing to engage with PSC’s then working via your Limited Company for that contract is not a problem. However, the end client must provide the agency (IGA Talent) with a status determination which states the role is outside of IR35. If the client does not engage with PSC’s then you will need to register with an umbrella company for that particular assignment so that Tax and NIC’s can be deducted at source.