Who are Sovereign Plus?
We are a commercial contractor which works with construction companies who have the need for a self-employed work force but understand the risks and obligations required to satisfy HMRC.
What have I been given to sign?
The document you are agreeing and signing is a contract for services which contains your rights and obligations whenever you contract for us. It is important to read it carefully as its contents are legally binding. It covers:
• How you will be paid
• Your responsibilities and those of anybody sent to represent you
• Health and Safety
• Ending the contract
But I'm Self-Employed. Do I need a written contract?
The contract you sign is important as it sets out your rights and obligations, confirming both you and S+ accept your status as Self-employed and your entitlement to be treated as such. It is important for both parties to agree these in writing in case there is a future dispute or any lack of clarity in relation to the terms of your engagement.
Can I send somebody else to provide the service in my place?
Being self-employed, you have the right to use somebody else to undertake any agreed work. The contract provides for this. Your responsibility is to ensure they are suitably qualified and experienced and as long as this is the case, we would still pay you as per our agreement and you would be responsible for paying them.
What about tax?
Whilst you are contracting for S+, we are required by law to deduct 'tax on account' from your earnings. The rate of tax is decided and verified by HMRC, and will either be 0%, 20% or 30% depending on your HMRC CIS status.
Who verifies my CIS status and completes my monthly returns?
When you first register with us, we will verify your tax rate with HMRC. Once verified, we will deduct from your payments at the HMRC advised rate. If you are not already registered as a sub-contractor with HMRC, your tax is likely to be deducted at the higher rate of 30% until HMRC verifies your CIS tax status. Whilst we will submit monthly CIS returns to HMRC, advising them of your earnings and the amount of tax deducted from them, you are responsible for completing your own tax returns.
What about N.l. contributions and my annual self-assessment tax returns?
As you are self-employed, it is your responsibility to pay your National Insurance contributions as well as completing your end of year Self Assessment Tax return. We provide you with remittance advice slips and statement of earnings when required for your end of year tax return. We can help you with your tax returns - get in touch.
Do I get holiday pay?
No. Under the terms and conditions set out in our contract, you are not entitled to holiday pay. As you are self-employed and not an employee, you also do not qualify for sick pay or any statutory leave, paid or unpaid from us. However, you may qualify for payments from the Government, but you would need to take these up with them directly.
Can I still work for who I want?
Yes. Whilst contracting for S+, you do not have to accept any work offered and are free to provide your services to others. Conversely, S+ are not under any obligation to offer you work. Of course, S+ will only pay you for services provided to us.