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HomeCandidatesInvoicing & Fasterpay

Invoicing and Fasterpay

Guaranteed payment from people4!

Guaranteed payment & invoice handling

people4business guarantees payment on a 30-day basis, so there’s no more waiting months for payment and wasting valuable time credit chasing.

We also handle all your invoicing and credit control – including generating all the invoices you will need.

people4business is able to provide this service by applying a management fee margin, which is added to the hourly rate you set on the website. This margin is substantially lower than standard agency margins, so we’re confident that your rates will still be very competitive to Clients.

Payment through a limited company

All Candidates on our site who take contract positions must be paid through a Ltd Company. Many of our Candidates work through their own limited company so we can make payments directly into your company account, however, if you are a sole trader you must still be paid through a Ltd company. We recommend you register with an Umbrella company to receive payments.

View a list of Umbrella companies and their rates.

See more information for Ltd Company Candidates.

Your contract

Agreeing contract terms

When negotiating the final contract terms with your Client, the following will be agreed:

- the duration of the contract;
- the invoice and timesheet frequency;
- the final hourly rate; and
- whether or not your Client gives permission for you to claim overtime and expenses.

Once the contract details are completed, together with the standard terms and conditions, you have a contract for services which is the contract between you, us – people4business.com – and your Client.

Please note that you should not start work until we have informed you that all the 'paperwork' has been completed.

Invoicing process

The majority of Clients select four-weekly invoicing and weekly timesheets.

For four-weekly invoicing, the invoices will be generated when the final weekly timesheet for the period is approved.
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Timesheets

Throughout your contract, you fill out online timesheets. You need to submit these (not just save them) on a weekly basis, at least. The quicker you fill out your timesheets, the quicker we can generate your payment.

If your Client has not approved your timesheet within 2 working days, we email them with a reminder.
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Final or four-weekly timesheet

At the end of your contract, or at the end of each four-week period for an ongoing contract, you fill out your final timesheet.

You also submit any expenses claims – if expenses have been approved by your Client.

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Approve timesheet

Your Client has 2 working days to approve your timesheet and expenses claims. If your Client queries a timesheet or expenses claim, we will send them back to you for resubmission.

When your Client approves your timesheet and expenses – or if they do not respond within 2 days – we will generate invoices.

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Invoice 1: From people4business to Client

We invoice the Client for your labour costs plus our fee plus expenses.

As we are VAT registered, VAT is added to all our invoices to Clients.
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Invoice 2: From Candidate to people4business

We also issue an invoice on your behalf, which is from you, the Candidate, to people4business. This invoice has your agreed labour costs (hourly rate plus any overtime) plus expenses. For VAT-registered Candidates, VAT will be added.

We settle your invoice at 30 calendar days after submission of an approved final or end-of-month timesheet.

 

Expenses & Overtime

Expenses and overtime can only be claimed when a Client agrees to them. You need to agree whether or not expenses and overtime are allowed when you are agreeing final terms with the Client.

Entering your expenses

If you or your limited company are VAT registered, you will need to enter your expenses LESS VAT. You can then claim back the VAT on your expenses as part of your normal VAT reconciliation process. Your Client can claim back the VAT on our invoices.

If you are not VAT registered, then you will need to enter your expenses including VAT.

Umbrella companies

When you are working through an umbrella company, we raise an invoice on your behalf for the work you have done, plus any agreed expenses. We invoice the Client for this total plus our commission.

We make payment directly to the umbrella company, which will then deduct the appropriate taxes, National Insurance and charges, before paying you the balance.

Fasterpay

If you want quicker payment than the standard 30 days you can choose our Fasterpay option. For an additional charge of just 4% of your total payment, we can bring payment forward to within 5 working days after the invoice has been raised.

You select Fasterpay at the point when you are agreeing to the contract.

This means that you select Fasterpay on a per-contract basis, rather than for each payment. For contracts lasting longer than one month, for example, you could select Fasterpay for all your monthly payments – or for none of them.

Please note: 5 working days refers to the time we pay the invoice, we cannot guarantee that you will receive your payment within 5 working days, due to bank processing times.

Premier Candidates benefit from a 25% discount on Fasterpay – they pay just 3% of their total payment.

Important points to note

• The Fasterpay payment will only be triggered when the Client has agreed to your timesheet.

• If you are paid as a limited company, we make payment to your company bank account after 5 working days, and you will have access to these funds as soon as your bank clears the payment;

• If you are paid through an umbrella company, we make payment to the umbrella company within 5 working days. You should check with your umbrella company how quickly they are able to process these payments to you.

VAT

If you are VAT registered, then all invoices we generate on your behalf (from you to people4business) will have VAT added.

If you are not VAT registered, then all invoices we generate on your behalf (from you to people4business) will NOT have VAT added.

As people4business is VAT registered, all of our invoices to Clients (whether they are VAT registered or not) must have VAT added.

Have a Question?

Email us! | Call our dedicated team of experts 0845 371 0722

Page last updated 01.08.12

Premier Members


Candidate 240271 £211.76 p/hr

Heathfield, East Sussex, UK.


Chartered Director. Experienced International business Executive, having started, owned and sold several technology and media-based enterprises. Particularly strong on board-level strategic planning and execution. Seeking Board-level strategic appointments, Boardroom Performance appraisal and enhancement projects, and Non-Executive roles. Interested in UK and non-UK roles.

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