When I supply Stomgrove with all my details what do I do now and how does it actually work?
When we receive your monies from the agency our standard fees are £26.50 per week for transactions over £350 below £350 transactions the fee is £21.50.
Why are there 2 different amounts?
Because the guidelines issued by the Government and employment industry many years ago accepted that there were many money changing companies around that you should not be paying any more than 2-3% for their financial services.
Because I am worried about tax bills, how much tax do I pay and when do I pay it?
Other exceptions to this are where you work abroad and your money is paid abroad but this need to be confirmed by various parties i.e. agency and your accountant to verify your tax status. This is especially important if you pay tax in another country but receive money in the UK. Contact Stomgrove for more details.
There is not a lot else to do, register as self employed if you have not already done so, details further down our website.How to Register as Self Employed (subcontractor)
Being a self-employed subcontractor is simplicity itself. From the date of commencing self-employment you have a period of up to 3 months in which to register with the Inland Revenue.
A free and easy-to-follow guide containing all the information you need is available on the Inland Revenue’s excellent website. It can be viewed, downloaded or ordered and includes all the forms required.
All the requisite forms are available at http://www.hmrc.gov.uk/forms/cwf1.pdf