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Accounting Freedom are dynamic, forward thinking accountants providing clients across the country with a range of professional services.

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FAQs

 

1. How much does it cost to join the scheme?

2. Are there any penalties if I decide to leave the scheme?

3. If my agency does not pay you, do I still get paid?

4. How often do I get paid?

5. How about Holiday Pay?

6. How do I know I have been paid?

7. What do I do with my timesheets?

8. How do I claim expenses?

9. How about IR35? Am I affected by this legislation?

10. What are the benefits of joining the scheme?

11. Do you offer any incentive in case I recommend a friend or colleague?

 

1. How much does it cost to join the scheme?

It does not cost anything to join. There are no set up or exit fees. All you pay is our weekly or monthly charges.

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2. Are there any penalties if I decide to leave the scheme?

There are no exit fees or penalties if you decide to leave. All we ask for a notice period of 1 week if you are paid weekly or 1 month if you are paid monthly.

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3. If my agency does not pay you, do I still get paid?

We can only pay you once we have received funds from your agency, or your end client.

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4. How often do I get paid?

We will pay you on the same day that funds are received from your Agency or end client. Payment is made by BACS and funds will clear into your bank account in 3 working days or CHAPS, same day transfer, depending on the package that you choose.

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5. How about Holiday Pay?

We will make a deduction of 12.07% of the minimum wage equivalent. This amount goes into your personal holiday fund and is paid out when you are actually take the time off. Holidays must be taken within the calendar year.

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6. How do I know I have been paid?

You will be notified via e-mail that you have been paid and at the same time your payslip is sent out to you.

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7. What do I do with my timesheets?

You will need to comply with your agency's or end user's procedures for timesheet submission. Make sure that timesheets are signed off and approved by your line manger. Send a copy to us via fax or e-mail and send the original to your agency. Timesheets need to be submitted as per the agency schedule, ie weekly, fortnightly or monthly.

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8. How do I claim expenses?

We will provide you with a Expenses Claim Form. Enter details of all your expenses onto it and send it back to us with copy receipts of what is being claimed. It is your responsibility to keep the originals in case the Inland Revenue wants to inspect them.

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9. How about IR35? Am I affected by this legislation?

The scheme is fully compliant with all current legislation including IR35 and MSC's regulations. There are no risks for you as a contractor as all your income will be subject to PAYE and NI contributions.

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10. What are the benefits of joining the scheme?

The benefits are as following:

  • No start up or leaving costs
  • No hidden charges
  • A compliant service
  • A dedicated member of our team who will handle all your invoicing and correspondence
  • BACS payments made the day payment is received by us
  • CHAPS available on request
  • Payslips emailed on a weekly or monthly basis
  • Access to a pension scheme
  • Access to a private heath insurance plan
  • Insurance -
    Employers Liability Insurance - £10,000,000
    Public Liability Insurance - £5 million
    Professional Indemnity Insurance - £2 million
  • Mortgage References
  • Employer References
  • P60, P11D and P45 production
  • Statutory Sick Pay
  • Statutory Maternity Pay
  • Statutory Adoption Pay
  • Statutory Paternity Pay
  • Holiday Pay

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11. Do you offer any incentive in case I recommend a friend or colleague?

Yes. For every successful referral you will receive £50 on condition that your friend or colleague stays with the scheme for a minimum of 2 months.

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