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Contractor Information

Contractor Information

Invoicing & Timesheets

Timesheets must be approved by the client before they can be submitted for payment. All timesheets must be received by 12 noon on Tuesday along with your invoice. Payments will be made by Friday of that week. Failure to submit your timesheet/invoice on time will result in payment being processed the week after.

Limited Company or Umbrella Company

Whilst you are on assignment through Advanced Selection, you will need to determine if you want to be contracted as a limited company or use the services of an umbrella company and both have their benefits but for very different reasons.

Limited Company

  • You will have a number of statutory and financial obligations to meet.
  • You will be responsible for submitting annual accounts and meet your HMRC tax deadlines. However, you can hire the services of an Accountant to help you with this.
  • A Limited Company is the most tax-efficient way to operate by giving you the option to pay yourself a minimum basic salary plus dividends. Dividends are not subject to National Insurance Contributions against dividends making this tax-efficient.
  • You will be responsible for paying Corporation Tax on your yearly profits and depending on the turnover of your Limited Company, you may need to register for VAT.

Umbrella Company

  • By utilising the services of an Umbrella Company you effectively become a PAYE employee of the Umbrella Company.
  • Advanced Selection make payment to the umbrella company against your submitted timesheet and you will receive payment minus tax deductions, National Insurance Contributions and the fee of the umbrella company.
  • Not as tax-efficient as a Limited Company but a lot easy to manage with less administration required by you as this is completed by the umbrella company. This is often the preferred route for individuals new to contractin

IR35

IR35 is the UK’s anti-avoidance tax legislation introduced to ensure that contractors deemed to have the same working relationship with a business as one of their employees, should pay the relevanet tax as if they were an employee.
Prior to commencing an assignment with Advanced Selection, it will be determined if the contract falls under IR35. For further information about IR35 please visit