We deduct a margin of £120* per month, irrespective of how many times you are paid within the month. We charge a minimum margin of £360 per contract, so if your contract is under 3 months, we will deduct the remaining balance from the last tranche of income.
If during your contract you concurrently have an active personal service company administered by Competex, or if you are working through an agency with automated billing and payment systems, we will reduce the monthly charge by 20%.
This charge includes the cost of professional indemnity insurance (PI), employer’s liability insurance (EL) and public liability insurance (PL).
(* This is equivalent to £54 paid out of income taxed at 40%).
We do not normally charge a set-up fee. However, if a contract supplied by the agent or end-client does not match up to the terms of our own industry standard contract and needs to be reviewed by our lawyers, we will charge a set-up fee of £120*, to be deducted as an additional ‘margin’.