Contractors Unlimited

Getting Paid

How you get paid will depend on how you have set yourself up i.e. limited company etc. No matter which way you are set up, you will be required to fill in a timesheet and possibly even issue an invoice.

Timesheets

The contractor's definition of heaven is a signed timesheet. A timesheet details the work you have done for the client, and the number of hours you have worked in a given time period, usually weekly. Your timesheet needs to be authorised (signed). This is usually done by your supervisor.

Agents often issue timesheets for a contractor to complete, though many accept the client's in-house sheet.

Invoices

InvoicesMost agents will require an invoice to accompany a timesheet, unless you are working PAYE through the agent. When you sign your contract with the agent, they will supply details of what information they require on the invoice, typically this will include a contract reference, the number of hours worked, your hourly rate and VAT (if you are registered).

If you are operating through a limited company, then you will have to raise and issue the invoice. If you operate through an umbrella company, then they will do this for you.

Where is the Money Paid, and When?

Again this depends on how you are set up:
  • Through a limited company: The money will be paid into your company's bank account. Payment times can vary from agency to agency, although most of the larger ones tend to pay promptly (some within 7 days).
  • Umbrella Company: The agent will pay the umbrella company who will then pay you via your own personal bank account. This will usually be weekly, though may be monthly.
  • PAYE: The agent will pay your salary direct into your personal bank account usually monthly.
Fingers crossed, you should not experience any payment delays, but if you do - chase up the agency/client. It is your money after all.
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