Ship Shape does not promote or facilitate Limited Companies, in accordance with the MSC legislation. However, we will subcontract to workers who present themselves for payment having already set-up a Limited Company, who are clearly in business of their own account for the purposes of employment status, who clearly understand and run their own company, have a company bank account, and their own accountant.
How do I avoid a pay decrease?nitchadmin2019-05-23T15:11:48+01:00
As an alternative to direct fulltime employment and a significant pay decrease, you may be able to work genuinely in business on your own account and subcontract to Ship Shape. This allows you to continue working wherever you choose, eliminates the risk of charges by the HMRC and structures your pay to maximise your take home income
Why work as self employed as opposed to full time employment?nitchadmin2019-05-23T15:11:30+01:00
Working as self employed compared to full time employment significantly lowers workers taxes and increases their take-home pay. However, under UK law if you work under conditions and terms that resemble those of fulltime employment, the HMRC may declare your position as “deemed employment”. In this case you and your employer or agency may be held liable for significant taxes and penalties.
Am I responsible for paying my own tax and National Insurance contributions?nitchadmin2019-05-23T15:11:13+01:00
If you’re self-employed, you are responsible for paying your own tax and National Insurance contributions. You’ll need to keep business records and details of your income so you can fill in an annual Self Assessment tax return. You may also need to register for VAT.
Why do I have to prove my self-employed status on every project?nitchadmin2019-05-23T15:10:57+01:00
Self-employment checklists are project specific, and there is thus a possibility that the circumstances of a particular project may determine that you, the subcontractor, are unable to work on a self-employed basis. In this case, we are in a position to provide an alternative contracting solution through our Umbrella product. Once this specific project is completed and you move onto the next project, then another self-employment checklist is completed.
Do I need to complete a self assessment tax return?nitchadmin2019-05-23T15:10:34+01:00
A self assessment tax return is designed to bring together an individual’s taxable income and gains during a tax year (from 6th April one year to 5th April the next) for the purpose of calculating the correct tax liability for that year.
Do I need to register as self employed?nitchadmin2019-05-23T15:06:52+01:00
Subcontractors must hold a valid net or gross status. If you have this, we will verify your details with HM Revenue & Customs as quickly as possible, so that we can pay you as and when we engage your services.
How do I register for CIS status?nitchadmin2019-05-23T15:10:01+01:00
You must register for CIS Status through HM Revenue & Customs. This can be done online (see Q1 above) or by calling HM Revenue & Customs CIS Helpline on 0845 366 7899 (open from 8.00 am to 8.00 pm, seven days a week).
We offer generous referral bonuses including:
bonus paid where your new agency/employer decide to use Ship Shape Pay as a preferred supplier
bonus for each new friend you introduce (up to £500 bonus).