Inclusive Insurances
Professional Indemnity insurance protects you from the potential costs of your own mistakes. Before you go on site a client will check that you have Professional Indemnity in place. With FPS Umbrella, you're covered by a Worldwide Professional Indemnity policy worth £2 million, inclusive of legal costs and defenses.(1)
In addition your FPS Umbrella company is covered by £10 million Employer's Liability insurance, to account for the consequences of injury to you while you're at work and Public Liability insurance up to £5 million to cover any bodily injury or damage to property you may cause.
All of our comprehensive insurance cover extends worldwide,(1) on and offshore at no extra cost there is total piece of mind for you and your clients.
(1) PI Excludes USA and Canada. Certain professions such as doctors and nurses are not covered by our Professional Indemnity Insurance. Please contact us for further information.
Pensions
If you've not already set up a pension or don't currently make
full use of the allowances available, you could be paying substantial
amounts of tax unnecessarily. Pensions are big news as they represent
one of the few remaining tax breaks available to contractors.
Our members have access to an Independent Financial Adviser company
specialising in financial products for temporary workers. Information
and links to their site is through the Members Lounge.
Tax rebates
If you haven’t worked a full tax year then it may mean that you
are eligible for a tax rebate from the UK authorities. A good
number of our members receive an unexpected windfall as the UK
tax regime leaves it to you to discover if too much tax has been
taken in the year. Our members who believe that they are due a
tax rebate can use the services of a leading specialist company
who undertakes all the paperwork and submission on a no win, no
fee basis. Contact Smooth Tax on 0845 644 1871
Childcare Voucher Scheme (more)
FPS, in conjunction with Busy Bees is now able to offer a Childcare Voucher scheme. This is a more flexible way to meet the costs of your childcare, under which part of your wages or salary can be given up or “sacrificed” in exchange for Childcare Vouchers. Childcare Vouchers are simple to set up and use and offer a number of benefits:
* They are exempt from tax and National Insurance contributions- a hugely important tax concession for working parents.
* Savings can be made by both parents
* Working parents can save up to £1196* each per year via reduced tax and NIC.
* They are Government and HMRC approved
* Can be used to pay for all Registered or Approved Childcare for children aged up to 16 years old, from nursery fees for the little ones to activity holidays for  the teenagers. * Tax free benefit voucher value £55 per week / £243 per month
*Busy Bees Vouchers- Discount on Busy Bees nursery places
Visa applications
So you have arrived in the UK on a working visa and you’re
enjoying it so much that you want to extend your stay.
It isn’t as easy as it appears. Tough new UK immigration laws
makes completing an application form to remain in the country
a task for the professionals. Help is at hand for our members
as we have teamed up with an authorised immigration company who
will advise you on the options available to you and then following
a meeting with you, arrange all the paperwork on your behalf.
Contact The Smooth Group on 0845 644 1871
Financial advice
As a new or established contractor it is inevitable that you
will require access to financial service products.
In permanent employment, a lower, salaried income is enhanced
by additional benefits such as income protection, company pension
scheme, medical and life insurance. These benefits are largely
taken for granted but provide vital protection from hardship that
disappears the day that you start contracting. Depending on your
circumstances, you will need to replace some or all of this safety
net and must now fund the costs personally. You will have the
means to do so thanks to your newly enhanced income and much of
this package can also be provided very tax efficiently through
your umbrella company. Additionally you must make the most of
your decision to contract and it is important that your money
is set to work as efficiently as possible. Company and personal
tax breaks must be maximised so that HM Revenue and Customs doesn't
end up the real beneficiary of all your hard work! Careful structuring
of your finances and investing surplus income wisely can achieve
this. We advise that you seek an independent financial advisor
(IFA) who specialises in the contractor market. Only an independent
advisor will be able to scan the market for the most suitable
product at the best price and only a specialist will properly
understand your situation.
CredEcard
Receive payments, the safe, simple and smart way
Are you in the process of switching bank accounts or just arrived
in the UK and haven’t had a chance to open one yet? Then take
a look at the Charterhouse Private Clients Card.
Enjoy all the benefits of card based transactions without many
of the risks. Anyone can have one, subject to minimal identification
requirements. There are no credit checks, no employment verification
and a bank account is not required.
The card works in a similar way to a prepaid mobile phone. Your
application will take 48 hours to process and once you have your
card simply load it up at your convenience or we can pay your
salary to the card. Once funds are on the card you can use it
where Maestro® is accepted - so virtually anywhere, for anything.
Unlike credit and debit cards, you cannot go overdraw with a prepaid
card. This means no interest charges or overdraft fees.
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