A Guide to being a Contractor

You the Contractor

You know and we know you have the option; you have a choice of having your own Limited Company or using another Umbrella service.

MoneyBox5 has taken a step back and objectively assessed the requirements of free lance contractors. We have been fortunate through our own network of contractors to ask a simple question, "what would improve our service?". The resounding answer was to simplify the process of submitting time sheets and expense forms and MoneyBox5 has been able to do just that.

Our contractors found it more increasingly frustrating to submit timesheets through an antiquated paper system, having to fill in numerous timesheets, expense sheets going through the time consuming process of scanning each document or faxing only to have them disputed by the client, it goes on and I'm sure you are finding this all very familiar.

Our 24/7 online payroll system allows you to submit your details at any time and naturally from any where, you will receive your own unique account password and user name.

We give Agencies and Clients free use of the system which many use to manage major projects through out the UK, one of the biggest problems of project management is getting accurate information they need in real time.

If you have read the above, you will by now understand that with our payroll system you, the client or Agency and MoneyBox5 will all have real time access to your details, no more pointing the finger at a third party passing the blame, this service has been designed to minimise any hassle and maximise our efforts to ensure you get paid on time. 

Why use MoneyBox5

Looking for a contract – Your first task as a contractor may be to find work.  MoneyBox5 is an arm of the Netbox5 group of companies, a provider of IT solutions and project management services to a large number of clients throughout the UK and Europe.
 
Visit our website at www.netbox5.com or submit your CV here to see if there are opportunities for you.

Limited company - A contractor uses an umbrella company to avoid the burden of having responsibilities and costs associated with setting up their own limited company.

For some of the key differences between setting up your own limited company and using an umbrella company click here.

MoneyBox5 - As a contractor you will be registered as an employee of MoneyBox5 as a means to pay you.  See Our Services for more detail

IR35 compliant - By using MoneyBox5 you will be IR35 compliant.  You transfer some responsibilities and obligations onto the employer so that you are in the knowledge that you are working in a manner which is compliant with current employment and financial legislation.

Fees - We operate a very simple pay structure; our fees are fixed at £19.95 per weekly payslip or £60 per monthly payslip.  For more details click here.

Register now - To become a member of MoneyBox5 simply complete our on-line registration form.

Once registered MoneyBox5 will sign a contract with your agency or client and activate your account on-line for you to complete your timesheets and claim your expenses for tax relief. 

Maximise your income - On receipt of the funds from your agency or client MoneyBox5 will make payment to you by BACS ensuring you pay the least amount of tax by utilising your expenses claimed.

As a contractor you are entitled to claim expenses for tax relief where incurred necessarily in the performance of your duties.  Please ensure you submit all your expenses and forward your original receipts in a timely fashion to benefit fully from the tax relief you are entitled to.

Financial services - We can offer you specialist independent financial advice to suit all aspects of your financial needs through our associated partners.  Click here for more detail.