Each of these options has its own particular merits and those need to be weighed carefully before you make a choice. The important question is which one (if any) is right for you? The answer to that question will depend on your circumstances and how you intend and are able to work.
If you are uncertain as to which option is best for you then please contact us.
Broadly speaking, the difference between the 4 options available to you through Crest Plus can be summarised as follows:
For some individuals the best option is for them to provide their services through the vehicle of a limited company which they own and control, often referred to as a personal service company. For those individuals our Personal Service Company service is the best option. We deal with the form filling and red tape associated with keeping your company’s taxation affairs in order and up to date and we will also deal with those aspects of office administration that you do not have the time, experience or inclination to deal with yourself. Personal Service Company leaves you free to focus on the job at hand. It is slightly different from the other three ways of working with us in that it does not involve us paying you. Instead your company will contract with and get paid by your client or the recruitment agency involved and we will work for you as your accountants of choice. If Personal Service Company meets your needs then from a purely financial perspective, it is likely to be your best option; this option also carries with it the additional benefit of limited liability. Personal Service Company is proving particularly popular with those individuals that generate sufficient funds from the work they carry out.
Umbrella Plus is best suited to individuals who wish to enjoy the relative security and peace of mind that working as an employee affords. If that is for you then Crest Plus Operations Ltd t/a Umbrella Plus will take you on as one of its own employees. Consequently, you will be entitled to receive paid holiday, statutory sickness pay, statutory maternity, paternity and adoption benefits and you will be entitled to be enrolled into a pension scheme that we will pay into as your employer (subject to you meeting the relevant statutory requirements). These statutory rights, benefits and protections do of course need to be funded and consequently the take home pay of our Umbrella Plus employees will be lower than if they had chosen to undertake the work in question through one of the other options that Crest Plus may be able to offer.
Umbrella Plus is fast becoming our most popular proposition. Individuals that intend to work on a series of temporary assignments for us find it particularly rewarding because their legitimate business expenses can be reimbursed to them in a tax efficient manner, thereby maximising the financial returns that this option has to offer.
Due to recent changes in the tax treatment of self-employed individuals some recruitment agencies no longer permit the work opportunities they find in the UK construction industry to be staffed by self-employed individuals. Consequently, CIS Plus and Freelance Plus may not always be available.
When available CIS plus and Freelance Plus are a good choice for individuals who work on a self-employed basis. They afford the individual a greater degree of freedom as to what, where and when they will provide their services. However, if you work on a self-employed basis you will not be entitled to the same employment benefits and protections as you would under Umbrella Plus. Typically the take home pay will be higher than if you undertook the same task via Umbrella Plus. Self-employment carries with it associated risks, for example you will be expected to put right any errors or mistakes that you may make in your own time and at your own cost. However when you are working for us you will have the benefit of our insurance cover which would protect you.
CIS Plus is for self-employed individuals working in the UK construction sector. Whereas, Freelance Plus is for self-employed individuals who work outside the UK construction sector.