|
Period End Date
Friday
|
No of Weeks
on Timesheets
|
Cut Off Dates
Timesheets-Invoices
5:30 pm
|
BACS Credit Date
To Limited Co A/C
|
|
30/12/2011
|
5
|
04/01/2012
|
13/01/2012
|
|
27/01/2012
|
4
|
01/02/2012
|
14/02/2012
|
|
24/02/2012
|
4
|
29/02/2012
|
14/03/2012
|
|
30/03/2012
|
5
|
04/04/2012
|
20/04/2012
|
|
27/04/2012
|
4
|
02/05/2012
|
21/05/2012
|
|
25/05/2012
|
4
|
30/05/2012
|
21/06/2012
|
Employment Agency Act 2003 (EAA) - Opting Out for Limited Companies
If you work as a Contractor via a Limited Company, the EAA Regulations allow for an "Opt Out". Whilst the EAA Regulations have been conceived to ensure greater legislative protection for all non permanent workers, there may be issues which conflict with the spirit of 'IR35'.The ability for a Limited Company Contractor to Opt Out gives you the choice to remain contracting in the same way as prior to the regulations.
Opting out of the regulations will have benefits if you decide that you want to be considered to be acting as a true business rather than a temporary employee. However, this will mean you are not given the same protection as PAYE workers (working via an
umbrella company would provide similar protection). Working outside the regulations brings you a step closer to being seen as a genuine business and therefore more likely to be outside the scope of the IR35 tax rules.
Please note for commercial reasons and following advice from BIS, ReThink is unable to accommodate Limited Company Contractors that wish to Opt In to the Conduct of Employment Regulations.
For more information on these rules and the implications and benefits of Opting Out of the Conduct Regulations, please download:
http://www.berr.gov.uk/files/file24248.pdf
