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Previously on "Supplier for contractors - Additional insurance? Paperwork?"

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  • LisaContractorUmbrella
    replied
    Originally posted by panadol View Post
    Thanks mate.
    Will engage him as a a supplier.
    ie, I will be acting as an agency in a way.

    um..interesting about VAT. Will speak to accountant about it.

    Another other legal side I should look into ?

    Had a search already, but didn't find too much specific info, let me dig deeper. Thanks.
    If you want to act as an agency this: The Conduct of Employment Agencies and Employment Businesses Regulations 2003

    Leave a comment:


  • northernladuk
    replied
    What do you expect to make from this arrangement? a couple of 10's of pounds extra a day? It looks tempting but generally it's just not worth it. You are responsible for his actions which may reflect on you if it all goes wrong, plus management of him. The client may not be too pleased if you have to spend time managing him when you should be working etc. If the contractor comes in and bails early then again it falls on you.

    Why not just put him forward to the client as a gesture of goodwill or a referral fee instead?

    Leave a comment:


  • TheCyclingProgrammer
    replied
    Even if subcontracting, check if you'll need employers liability insurance too. Ask your accountant or if you're an IPSE member their legal hotline should be able to advise. It's not expensive.

    As mentioned above if said contractor is VAT registered you won't be able to recover the input VAT so it will eat into your profit margin, assuming you are adding a margin on top.

    Leave a comment:


  • Sausage Surprise
    replied
    Originally posted by northernladuk View Post
    First off you don't mention how you are engaged with the client. Are you direct or via an agency. It makes a huge different to all of this. If you are through an agency there is probably a PSL in place so you will not be able to supply direct.

    There are a ton of other things to mention such as the fact you are responsible for this contractor and so on but let's get the basics out of the way first and understand your engagement.

    99 times out of 100 this type of thing just isn't worth it but if you need some advice lets get some basic facts first.

    This! I did it for a mate for 3 months before he went permie and the extra paperwork/responsibility was a right PITA.

    Leave a comment:


  • panadol
    replied
    Originally posted by TheFaQQer View Post
    How are you planning on engaging them - as a supplier or an employee?

    If it's as a supplier, then you need to consider your VAT position if you are using the flat rate scheme; if it's as an employee then you need to look at the legal implications of that route.

    It's been asked before - have a search around and see what the recommendations in the past have been. I can't imagine that the advice given in the past has changed drastically.
    Thanks mate.
    Will engage him as a a supplier.
    ie, I will be acting as an agency in a way.

    um..interesting about VAT. Will speak to accountant about it.

    Another other legal side I should look into ?

    Had a search already, but didn't find too much specific info, let me dig deeper. Thanks.

    Leave a comment:


  • TheFaQQer
    replied
    Originally posted by panadol View Post
    What else should I be aware of?
    How are you planning on engaging them - as a supplier or an employee?

    If it's as a supplier, then you need to consider your VAT position if you are using the flat rate scheme; if it's as an employee then you need to look at the legal implications of that route.

    It's been asked before - have a search around and see what the recommendations in the past have been. I can't imagine that the advice given in the past has changed drastically.

    Leave a comment:


  • panadol
    replied
    Originally posted by northernladuk View Post
    First off you don't mention how you are engaged with the client. Are you direct or via an agency. It makes a huge different to all of this. If you are through an agency there is probably a PSL in place so you will not be able to supply direct.

    There are a ton of other things to mention such as the fact you are responsible for this contractor and so on but let's get the basics out of the way first and understand your engagement.

    99 times out of 100 this type of thing just isn't worth it but if you need some advice lets get some basic facts first.
    I am direct with the client via my limited company.
    There is an PSL, but I think they are a little desperate as it is a very rare skillset they are after, so they are happy with go around that.

    What else should I be aware of?

    Leave a comment:


  • northernladuk
    replied
    First off you don't mention how you are engaged with the client. Are you direct or via an agency. It makes a huge different to all of this. If you are through an agency there is probably a PSL in place so you will not be able to supply direct.

    There are a ton of other things to mention such as the fact you are responsible for this contractor and so on but let's get the basics out of the way first and understand your engagement.

    99 times out of 100 this type of thing just isn't worth it but if you need some advice lets get some basic facts first.

    Leave a comment:


  • Batcher
    replied
    What did your accountant say when you asked them?

    Leave a comment:


  • Supplier for contractors - Additional insurance? Paperwork?

    Hi guys,

    I have been running my own limited company, with me as the contractor.

    My client is looking for a new hire, I could potentially supply them with another contractor via my limited company.

    My questions are:

    1) Would I need anything else apart from having a limited company?
    I currently have both professional indemnity insurance and public liability.

    2) I presume there is no other difference for my limited company to supply one (ie, me) resource, vs 2 resources, from legal perspective?

    3) Anything else I'd need?

    Thanks guys

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