Advise on contracting via another ltd company

[LondonManc]

If it's a genuine case of sub-contracting via a B2B arrangement, a statement of Ts and Cs for the engagement between yourco and theirco should be sufficient. Amicably discuss the payment schedule (you may have to settle for a lower rate if they have to invoice factor and pay you weekly for example) and other things that you consider key (IP, etc.) and get them documented and signed off by a director from both parties.

[northernladuk]

Apart from payment terms is there anything else I should be aware of?
Anything to cause problems.

Get all your correspondence on the matter spelling and grammar checked...

HTH

[xenomorph]

Get all your correspondence on the matter spelling and grammar checked...

HTH

You mean ensure the contract is checked for grammar and spelling errors?
Or you joking? lol

If it's a genuine case of sub-contracting via a B2B arrangement, a statement of Ts and Cs for the engagement between yourco and theirco should be sufficient. Amicably discuss the payment schedule (you may have to settle for a lower rate if they have to invoice factor and pay you weekly for example) and other things that you consider key (IP, etc.) and get them documented and signed off by a director from both parties.

They mentioned I could get better rate as less fees will be charged on the day rate vs against agency. But I suspect if they take £50 a day from my rate it would only leave me with £25 extra a day which is what the total cost of agency fees were for the client.

[northernladuk]

You mean ensure the contract is checked for grammar and spelling errors?
Or you joking? lol

Advise on contracting via another ltd comoany

[xenomorph]

Advise on contracting via another ltd comoany

oops did not even notice that!
cant edit it now

[northernladuk]

oops did not even notice that!
cant edit it now

So need some advise on any major risk of the following

[NotAllThere]

oops did not even notice that!
cant edit it now

I can.

But I like the idea of limited co-moany.

[LondonManc]

They mentioned I could get better rate as less fees will be charged on the day rate vs against agency. But I suspect if they take £50 a day from my rate it would only leave me with £25 extra a day which is what the total cost of agency fees were for the client.

All down to trust for you then - I've operated like that on a paid-when-paid basis. No timesheets to worry about because there's nobody to sign them.

I presume yourco will be invoicing subcontracting co? If so, do it in the first couple of days of the next month for the previous month's work:

x consultancy days @ £y
create the total
add the VAT
expect that amount z days later.

There are standard templates for this online.

[xenomorph]

All down to trust for you then - I've operated like that on a paid-when-paid basis. No timesheets to worry about because there's nobody to sign them.

I presume yourco will be invoicing subcontracting co? If so, do it in the first couple of days of the next month for the previous month's work:

x consultancy days @ £y
create the total
add the VAT
expect that amount z days later.

There are standard templates for this online.

Yes it would me by company having contract with other persons company.
Will have a look at those templates and see what they think about payment terms.
Thanks all

[LondonManc]

Yes it would me by company having contract with other persons company.
Will have a look at those templates and see what they think about payment terms.
Thanks all

As I said, all down to trust - if you trust the guys you're subcontracting for then the only issue is them not getting paid by the client for the work you've done.

Part of the job when there's lack of timesheets (if there will be in your case) is to drop a summary of work carried out each week to the people that you'll be invoicing to demonstrate what you're delivering each week. That's purely to prove that you're invoicing genuinely for 10, 15, 20 days, whatever it may be.