“Self Employed Contractor – SEC’s is good for you!”
Esentual has added this service to meet the high demand created by the implementation of the Agency Worker Regulations (AWR) from the European Union which affects all temporary workers and the Agency who work on their behalf. We have also experienced unprecedented demand from existing workers happy with their experience with Esentual. Building a solution in response to AWR gives us the benefit of being able to design our solution with the latest legislation in mind rather than having to shoe horn legislative changes into legacy systems. Fit for purpose day 1.
Our solution has to comply with legislation and therefore can deliver the same potential tax benefits, subject to worker status and activity, as our competitors, but we differentiate ourselves on service quality and performance.
As a Self Employed Contractor you can choose to provide your professional services to Esentual via our sub-contractor agreement and we can offer you assignment through our service contracts all over the U.K. You are still free to work anywhere you wish and we are happy to support that activity if you require us to. You can even send a substitute to work on an assignment we offer you as long as they are suitably qualified for the role and you accept the responsibility to pay them when you have been paid.
It could not be easier, but be warned, whatever route you choose to become Self Employed there are quite a few forms to be completed. We provide you with the assistance to get them completed and will track that they have been processed, if you give us the authority. The key to Self Employment, like any decision in life, is to ensure you are fully informed and make the decision based on what’s best for you.
By sub-contracting your services to Esentual our aim is to put your skills to work, but only if you want to and to make sure the billing for your services and the payment for those services is timely and accurate. To ensure the timeliness and accuracy we dove-tail with our own accounting systems seamlessly by providing you with a Self Bill and weekly statement. As a Self Employed Contractor you will need to account for those invoices and for the expenses you have incurred wholley and exclusively in the pursuit of your professional service delivery, so we offer you the option of selecting our Accountancy Service Provision (ASP).
“Why do you need our ASP? Well, as a Self Employed Contractor you will have additional obligations and responsibilities compared to PAYE or Umbrella. Esentual has engaged Kingston Smith LLP (a Top 20 U.K. Accountancy firm) to provide us with the skills and resources to give you a great solution to the administration and financial obligation of Self Employment, such as:
• setting aside funds for Tax/NI and VAT (if registered for VAT)
• undertaking your annual Self Assessment which calculates how much Tax and NI that
you owe by the required date
• payment of the required Tax/NI
• Calculation of Quarterly VAT and payment (if registered)
You have the option of doing all the administration and financial reporting yourself, engaging an accountant on your behalf or using our ASP. Our ASP solution provides the 2 main options for £5 (inc VAT) per week for Self Assessment ONLY or £10 (inc VAT) per week for both the Self Assessment and Quarterly VAT returns. The annual charge for each service is £260 or £520 (inclusive of VAT), we make it more convenient by deducting weekly.
