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Frequently Asked Questions

Why use a Contractor Solutions Company?

Basically, we are here to reduce the administrative burden you would suffer if you were to run your own Limited Company in the traditional sense. Using our solution will, in most cases, also reduce your tax burden and increase your take home pay.  As you are classed as a full time permanent employee, you are also outside of IR35 legislation, and therefore entitled to all the normal statutory payments afforded by a permanent employee.

Can I be paid weekly?

Yes. Our preferred contractor payroll providers operate at least two payrolls daily in order to support both weekly and monthly payrolls. What’s more, they operate free faster payments as standard, enabling them to process your payments on the same day they are received. Unlike the BACS system employed by other umbrella & payroll services, Faster Payments take hours to clear, not days.

How are fees charged?

You will be charged a percentage fee on the invoices that are processed by our preferred contractor payroll providers. You will not be charged any setup or leaving fees by our contractor payroll providers. There is a small fee for the set up of your limited company which will be reimbursed to you after your first payment. By using Network One’s solution, you have the opportunity to increase your take home pay even further by referring friends and colleagues whom you think would benefit from our solution too. To find out more go, to our referrals page.

Is there a minimum term?

Although there is no minimum term, the Network One Solution works best if you’re invoicing and being paid for as much of the tax year as you can. However, even if you are only paid through Network One for a short term, you will still benefit to a much greater extent than through a standard umbrella or traditional Limited Company. Please feel free to contact our advisers for impartial advice on what is best for you on an individual basis. At Network One, we are there to assist you 7 days a week.

I am a Director of my own Limited. Can I join?

Yes you can. Just let us know if you have already set up your limited company and we will advise on the next steps.

I am currently with another Umbrella. Can I join?

Yes! All you need to do is give notice to your current Umbrella, and advise the agency / client that you are using your own Limited Company. Even if you’re mid-contract, we can still help you. There’s nothing to stop you changing your solution at any point in a contract.

Do I have to do a tax return?

You (or your accountant) need to complete a tax return. This can be done via our preferred Accountants if you are using the Network One solution. We have negotiated a favourable rate and included that within the sales illustration.