What we’ll do for your contractors
Contractors receive a detailed and transparent explanation of how our process operates in the form of a simple explanatory brochure, which on contracting they should confirm they have read and understood.
Equitable ensures each contractor receives Faster Payment into his or her bank account in line with the agency’s or company’s terms. Personal email and SMS alerts deliver up to the minute information on their payment details. In addition each contractor has secure access to their own portal on the Equitable website.
For contractors the savings are attractive. With no tax affairs or paperwork to worry about they will have no need to engage their own accountant, saving them on average, between £350.00-£400.00 a year. With the contractors self-employed status confirmed, he, or she, will be able to claim tax-deductible expenses, giving them a higher net income.
Equitable calculates each contractor’s tax liabilities and makes payments to HMRC at regular intervals. The individual is always up to date and in most cases may even receive a small tax rebate at the year’s end.
- Enables contractors to claim expenses, giving them a higher net income
- Faster bank payment with email and SMS alerts to keep individuals informed
- Professional invoices produced on behalf of the contractor and issued to the agency or company
- Contractors’ paperwork and tax affairs kept right up to date
- Accountancy fees eliminated
- Self-employed status protected
- Contractors pay nothing for being part of Equitable