Project People is providing you this Key Information Document (“KID”) under Regulation 13A of the Conduct of Employment Agencies and Employment Business Regulations 2003 (the ‘Conduct Regulations’).
The purpose of the KID is to improve transparency of information, including pay calculations and deductions.
Project People will engage you under one of four models:
1. Employee with Project People. Under this model you will be employed as an employed consultant paid an hourly, daily or weekly rate of pay, which will be subject to deduction for tax and national insurance deductions. You will enjoy statutory benefits of holiday pay, pension entitlement, sick pay and other statutory benefits together with company benefits. Project People’s Employment key information document is provided here: Pay as You Earn (PAYE)
2. Worker with Project People. Under this model you will be engaged as an agency worker paid an hourly, daily or weekly rate of pay, which will be subject to deduction for tax and national insurance deductions. You will enjoy the benefits of holiday pay, pension entitlement, sick pay and other statutory benefits. Project People’s Worker key information document is provided here: Agency Worker
3. PAYE with an Umbrella Company. Under this model you will be paid an hourly, daily or weekly rate of pay, which will be subject to deduction for tax and national insurance deductions, by an umbrella company of your choice from one of four umbrella companies on our approved list: Giant, Parasol, Paystream, SmartWork. You will have an overarching employment agreement with the umbrella company. The key information documents of SmartWork is provided here: Umbrella Company (Umbrella)
4. Personal Service Company. Under this model, you will operate in business on your own account through a UK registered limited company, also known as a personal service company (“PSC”), of which you will be a director and own at least 50% of the shares. As you are operating in business on your own account, your PSC will provide services to Project People in return for fees. The fees will be paid without deductions if the provision of your services is determined to be outside IR35, or paid net of deductions for tax and national insurance if the provision of your services is determined to be inside IR35. You will ordinarily engage the services of an accountant of your choice, who will support you in filing annual confirmation statements, annual accounts and tax returns. The key information document for providing your services as a PSC inside/outside IR35 is provided here:
Personal Services Company Inside IR35 (PSC) (Ltd)
Personal Services Company Outside IR35 (PSC) (Ltd)
We've also built a useful calculator for you to see the outcome based on your actual pay rates. To see your take home pay, go to: calculator.projectpeople.com
Other umbrella companies are also available for use. Please note that Project People will only engage umbrella companies who are accredited by the FCSA. If you would like to use another umbrella company, please contact them for the equivalent documentation and pay calculations.
For more information, please contact keyinformation@projectpeople.com.