At Soteria we understand that entering the contractor world can be daunting. Whether this is new to you or you are coming back to this after a period in permanent employment, we want to ease the pain and help guide you through the journey.
If the information does not answer all your questions, feel free to Contact Us and we will provide you further detail and or explanation.
Filling out the Cover Sheet
The Cover Sheet provides details on the role with location, contract length, clearance required and the maximum day rate and whether the role is inside IR35. Detail is provided on the specifics of the role, with the main duties and responsibilities to be undertaken.
Section 2 is the area you need to complete; please complete this section accurately and with as much detail as is requested.
Section 3 provides you an opportunity to explain why you think you are suitable for the role and to highlight relevant skills and experience. There is no word limit to this section, but make sure you answer in the third person and try and include the keywords. It is important that you provide a response to all the essential experience and as much of the desirable.
Important – by submitting the cover sheet and your CV to Soteria for a specific role, you agree to the rate you have stated and confirm that all information is accurate and you are qualified to work within the UK. Additionally, by submitting the cover sheet you confirm that you have not applied for the same role through any other agency.
IR35 was HMRC’s (then the Inland Revenue) response to the growing number of employees leaving their permanent roles, setting up their own businesses and then returning to perform their old role as a contractor to avoid paying tax and National Insurance at the higher rates. IR35 – The Intermediaries Legislation is a group of legislation within the Social Security Contributions (Intermediaries) Regulations 2000 and the Finance Act in 2000 (Schedule 12). It aims to ensure that contractors working essentially as ‘disguised employees’ and the employer pays the same level of tax through PAYE and national insurance as if the contractor were an employee.
Further information can be found at: http://www.hmrc.gov.uk/ir35/help.htm
What is an Umbrella Company?
An umbrella company is a separate company that acts as an employer for contractors working on fixed term contracts. They also serve as an intermediary between the contractor and their end client or agency (Soteria). The main purpose of an umbrella company is to arrange and facilitate payment for the contractor. To do this they collect the contractor’s earnings from Soteria and then pay it onto you with tax, national insurance and their fee deducted.
Soteria can work with most umbrella companies and can recommend: http://www.parasolgroup.co.uk/
How do you get paid and when?
Once you start a role, you will be provided access and a login to the Fieldglass. Fieldglass is a vendor management system which is used to manage the non-employee workforce of contingent workers.
Through the Fieldglass system you will complete a weekly timesheet that needs to be approved by your line manager within your role. This needs to be completed and signed off by 12:30 on the Monday following the week claimed for.
If the role is Outside of IR35, Soteria will provide a bank transfer to your Ltd company account on the following Friday.
If the role is inside IR35, Soteria will provide a bank transfer to your umbrella company account on the following Friday. Most umbrella companies provide a same day payment service to you (with a small fee) or provide a standard bank transfer which would normally hit your account within 3 working days.
Top CV tips
- Keep it short and to the point – Ideally no more than 2 pages.
- For each new application tailor your CV so that you meet the essential and desirable requirements.
- Don’t leave employment gaps and ensure your employment history is in chronological order.
- Use spell and grammar check – employers will look for mistakes.
- Use numbers where appropriate – if you ran a large project, state the value.
- Include a personal statement at the top of your CV
- Make sure you include keywords, this will help to bring your CV above the competition.