Contracting for Huntswood
Huntswood is a market leading UK contract recruiter. We source the best people for both large-scale client projects and nichè interim appointments.
Large scale projects
Our large scale projects require a range of different people, so whether you are a recent graduate or an experienced professional, the chances are we’ll have a role that’s suitable for you. Our projects require expertise from programme management through to data input.
Nichè interim roles
Our interim requirements are specialist (often technical) roles and typically offer a day rate of £300 upwards. We fill positions for a range of regulated firms from banks and life and pension providers to consumer credit firms and wealth managers.
EXCITING CONTRACTING ROLES
How to contract for Huntswood
There are two ways to become a contractor with Huntswood. While the options are explained below, we recommend you seek
professional advice before making a decision.
1. Using an Umbrella Company
This is the simplest route to contracting and the one that most of our contractors choose. By using a third-party umbrella company, you are effectively employed by them. So, for a small fee you get your tax and invoicing taken care of. Your umbrella company invoice Huntswood directly, and you will receive a salary from them - based upon the terms you individually agree with them.
Plus, by using the standard PAYE route, you maximise your income and ensure that you have no nasty surprises from the tax man. You also get employee rights such as maternity and sickness pay.
There are lots of umbrella companies to choose from. Our preferred supplier is Husp. Husp is part of the Huntswood Group and it’s the quickest and easiest way to get set up.. We do also have an approved list of other umbrella companies you can choose from.
2. Using a Limited Company
Setting up your own limited company means you effectively become an employee of that company. One of the benefits might be that you pay less tax overall. However, running a limited company comes with more risk and administration. Unlike using an umbrella company, as a contractor you are responsible for producing your end of year accounts and registering for VAT (where applicable). You must also agree your own employee rights.
You will also need to make sure you have insurance (including professional indemnity insurance of at least £1,000,000).
As Huntswood will be contracting with your limited company, it’s important that you fully understand the accounting procedures. We certainly recommend you seek professional advice on this.
As a contractor you are not an employee of Huntswood - instead, you are ‘contracted’ to work with Huntswood. Often, contractors work on a specific project that lasts a certain period of time. For example a contractor might work on a project for three or six months. There are two options when setting up as a Huntswood contractor - either use an umbrella company or set up a limited company. Read more here.
These days, the employment market is far more transient than it once was. Long-term job security is certainly becoming a thing of the past. So the benefits of contracting are attractive to many. More money, the possibility of increased flexibility and getting a wider set of skills are just some of the attractions. However, there are downsides too. For example, you don’t get paid for holidays – so if you don’t work, you don’t earn money. Plus, you may not always have a contract, which means you must prepare financially for the times when you don’t have work.
All our contractors must use either an umbrella company or set up a limited company. But what’s the difference and what does it mean to you? We always recommend that you take professional advice before making a decision.
To register with Huntswood, please, submit your CV
We ask all contractors to complete a timesheet for each day they work. They can do this through our easy-to-use online portal.
If you are using Husp as your umbrella company, you will be paid on or before 14th of each month (for the previous month worked). For example, the time you worked in October would be paid on 14th November.
Payment to a limited company, or most other umbrella companies is made on the last working day of the month (for the previous month worked). So, the time you worked in October would be paid on the last working day of November.
Both permanent and contracting staff are required to pass our referencing and vetting checks. These can vary depending on the project you work on, but will typically include:
- Visa check*
- Proof of address (utility bill from the last three months)
- Qualification certificate
- Completed Registration form and ‘Fit and Proper’ form
- Confidentiality Agreement
*Scanned using our L1 ID official document scanner to verify the MRZ, font and paper authenticity
Once you’ve passed the assessment, we complete the following checks:
- Worldcheck (including Sanctions and Politically Exposed People)
- Directorship Check
- Insolvency Check
- Fraud database Check
- Credit Check using Equifax (including linked addresses, death check and alias information)
- Five years of employment and education verified with company checks
- Three years of employment references
Finally, once you are confirmed to start we check:
- Limited company / Umbrella certificate
- Business bank account verification
- VAT Certificate (if applicable)
- Personal Indemnity (PI) Insurance of at least £1million
As we provide financial services firms with professional contractors, we carry out the FCA-required credit check on their behalf. This is to make sure that you are what the regulator calls ‘fit and proper’. But don’t worry, these checks don’t leave a footprint or any information that other organisations can see. And it’s worth noting that CCJs and bankruptcy will not preclude you from our database, whereas not declaring them might.
You only need to take out professional indemnity insurance if you are contracting with us through a limited company, as it is used to protect your limited company; umbrella companies will have this in place for you already. Should the client be unhappy with the standard of your work, for example, they are entitled to take your company to court - and even sue you for compensation and court costs. Personal indemnity insurance will help protect you. The £1million level was set on advice from our solicitors and our own insurance provider.
We must prove that we only pay into business bank accounts. The bank account details alone are insufficient in assuring us that all accounts are business accounts. So a cheque or paying-in slip will prove to us and the Inland Revenue that we only pay into business bank accounts (and therefore you will not be considered to be a “quasi employee”.)
VAT registration is only necessary when you intend to charge VAT and is subject to certain earnings thresholds. Seeking the advice of an accountant is recommended. This helps you make sure you register for VAT at a time that is beneficial for your company.
We are only able to give a reference for your limited company seeing as that’s who the contract is with. We can only confirm factual information such as, for example, dates of project.
We will give you copies of the Huntswood policies that you need to comply with, such as our Health & Safety and Information Security policies. If you are working at a client site then you’ll also need to comply with their policies, and these will be provided to you at the start of your project.
We take your personal information seriously and go to great lengths to protect it. We comply with the Data Protection Act 1998 and all subsequent amendments to this Act. You’ll find more detail around how we collect, use and disseminate your personal data below.
We use your CV to send to companies, and we use your personal details for referencing and vetting. As the owner of your CV, we believe that you should be in full control of its contents and who sees it, so we will always ask your permission before sending it on. Only current (authorised) Huntswood employees have access to other personal data. This is held so that we can supply information to credit reference agencies, and data to JSA Services Limited (if you choose them as your umbrella company) so that they can pay you. If you prefer to provide this information yourself though, just let us know.
We will also send you information regarding opportunities for positions that we think you’ll find interesting. You can unsubscribe at any time by just emailing us at email@example.com. And if you want to be taken off our database altogether, simply send an email to the same address.
In accordance with the Data Protection Act 1998 you, the data subject, can ask to view all documentation we hold at any time.
If you have any questions about this privacy statement or the practices of this Site, you can contact:
Huntswood CTC Limited