Our Solution
Principal Contractors ensures you take home more pay, whilst also saving time and money, compared to working through an Umbrella Company or your own Limited Company.
- Prompt payments
- Total flexibility
- Full HMRC compliance
Once you join Principal Contractors, we will work with your agency or client to arrange the contract for your services. We raise invoices on your behalf and take responsibility for debt collection. As soon as we receive funds from your agency or client, we process and arrange for the payment to be transferred to your bank account.
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Benefits
Join forces with Principal Contractors and get the most out of being self- employed.
Benefits of being a PCL Consultant.
- Retain up to 90% of your current earnings after tax
- Regular payment cycles
- No set up fees and no fees when not working
- Contract review facility
- Inclusive insurances
- Credit control handled efficiently and professionally
- IR35 Compliant
- Endorsed by leading tax and employment opinions
- In-house tax experts to ensure on-going compliance
- You send your timesheet - we do the rest
| Gross Earnings | PAYE | Principal Contractors | + Difference |
|---|---|---|---|
| £40,000 | £30,017 | £36,000 | £5,983 |
| £50,000 | £35,963 | £45,000 | £9,037 |
| £75,000 | £50,463 | £67,500 | £17,037 |
| £100,000 | £64,963 | £90,000 | £25,037 |
| £125,000 | £75,687 | £112,500 | £36,813 |
| £150,000 | £90,187 | £135,000 | £44,813 |
| £200,000 | £116,687 | £180,000 | £63,313 |
| £250,000 | £143,187 | £225,500 | £81,813 |
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Support
All Principal Contractors employees are dedicated to providing excellent levels of service, with payments processed on time, every time. We employ our own in-house tax experts and work closely with leading Tax Counsel and Employment lawyers to ensure our contracts and remuneration planning is always fully compliant with current UK legislation.
The law controlling the working arrangements of UK-based contractors is dynamic and complex as it transcends both employment and tax legislation. Joining us as a self-employed consultant, you can be assured that Principal Contractors will take every step to ensure that you are not placed under any risk of breaching such wide-reaching legislation.
Our team is made up of industry specialists and qualified advisors who continuously monitor and review legislation - we make it our job to ensure that you can do yours.
Principal Contractors works in full consultation with leading industry experts to ensure that their self-employed consultants are fully compliant with all relevant legislation. As a sub-contractor registered as self-employed with the relevant UK tax authorities, you will make all appropriate payments of UK tax and social security, and will not be avoiding payments such as these in any way.
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How to Get Started
Principal Contractors has a quick and easy joining process -
- Complete and return application form by e-mail, fax or post along with photo identification and proof of address
- We will confirm receipt and register you within the hour
- We will register you for self-employment with HMRC
- We will contact your agency /client to arrange the contract for your services
- Once registered you can send us your timesheets and we will raise your invoices the same day.
- Payment will be made upon receipt of cleared funds.
PCL has saved me both time and money. For instance, there are no monthly expenses to be submitted. PCL has given me greater freedom and I wish I had known about them earlier.
Allen, Business Development Manager, Herts
