Contracting World Wide Services

IT and Telecommunication , Construction and Civil Engineering , Aviation , Flight crew and Ground staff and maintenance , Medical and Health care. Oil and Gas , Mining and Energy. Chance are that if you work in any of those industries that you that freelance contracts are available to you. In the United States its called freelancing , while in Europe the generic name is contracting and that’s what we do. We provide the back office functions to allow contract or freelance workers with the business entities to carry on their trades or professions. 

In the world of contracting the freelance worker engages in many of the activities that would normally be dealt with by separate departments at a company , where they are the employee. 

The move to contacting involves a shift to dealing in to dealing with finding and negotiating that next job or posting and then dealing with the legal , Accounting , and administrative burden of that’s comes with it. And that’s what we do. 

Many skilled professionals that operate on a freelancer contracting basis are responsible for setting up their next assignment or contact. There are many employment agencies that specialize in dealing with contact workers and other contracts might arise without an employment involvement for example a referral from a ex college approach from a former employer or contact made through a head hunter or one of the social media networks like linkedin.

Once offered a contract the most tedious tasks of a business entity is usually left to last.. But this is where we can help International contracting means dealing with a host of vexing issues even the most basic or routine activity , such as completing and signing the contract itself is now part of your administrative burden. 

Most contracts will require that you operate via a properly business entity such as an umbrella, composite, single person company or similar type of scheme. It may, depending on the location, required to be operated through a payroll scheme. This can involve issues like Global nobility , Employment law , expense claims , relocation and other compliance issues. 

Often when consultants switch countries regularly which can pose an additional complex international or local tax laws to navigate. As a leading international business services firm to contract professionals , we know how to manage the processes to allow you to concentrate on delivering your services , while we get on with the business of handling the administrative burden. 

Many people do not like detail and some freelance contractors are no different. Whether you like it or not the first task is always the detail that is in your contract. As this often dictates your compliance obligations and costs.

We work worldwide but chiefly in the EMEA (European Middle east and Africa) from a European base. And are fully focused on delivering business services to meet the demands of you and your agency or client.

Listed below are some of our most popular contracting services.  Kindly contact us for information on any service which is not on the list.

International Payroll

Chesterfield are experts in the field of international payroll.  We have dedicated professional teams who can provide a personal domestic and expatriate payroll service in almost every country.  Our payroll administrators have extensive knowledge of all local requirements wherever you may be based.  Often contracting staff may operate in several jurisdictions with the same tax year and our expert staff can seamlessly integrate the payroll required in each country.

Many jurisdictions have very complex tax laws.  Many jurisdictions seeking to attract a particular skill base may provide incentives such as greatly reduced tax rates for expertise.  Other jurisdictions may incentivise by reducing taxes or increasing allowances for various types of contractors whether by skill or by nationality or a period of time.  Very often there are multiple options of payoll schemes to choose from depending on your position.  Expenses may or may not be permitted and statutory expenses such as mileage allowances may apply.

In general the area of international payroll is as diverse as there are contracting jurisdictions, there usually are several schemes applicable to each location depending on the contractors circumstances.

Invoicing Services

Chesterfield will design an invoicing and payroll process and will create invoices in the format required.  As part of the invoicing process specialist contract management and e-payment services may also be integrated to provide a seamless process from invoice to payment receipt.

Integrated, secure invoices can be raised efficiently with precision in all countries including accounting for VAT or sales taxes.  This often permits the freelance contractor to concentrate on his core business.  Invoice services contributes to streamlining the administration of the freelance contractor and therefore often improves cash flow to the efficiency of the contractor.

These services may be batched and systemised for agencies or employers with multiple contractors in one site.  This provides the advantages of batch processing and cuts down on agency/employer administration and administrative time.

Umbrella Services

Umbrella services vary from country to country.  Generally umbrella services (depending on which type) usually means that the contractor rents space in an existing scheme, arrangement or company rather than set up their own from scratch.  It has the advantage of enabling the contractor to avoid the expenses and delay of set up and the expense and complication of close down on contract termination.

Often the procedure would be for the existing umbrella entity to enter into a contract with the contractors client or agency.  It can be, but not necessarily, that the contractor becomes an employee of the umbrella.  An umbrella service usually manages the whole process from contract excecution, to contract invoicing through to payment of the contractor.

Often insurance or adherence to certain compliance issues is a requirement of leading end users.  A pre-approved umbrella will already have all compliance, insurance and other matters in place so as the contractor does not have to reinvent the wheel.  Chesterfield are dedicated to providing seamless, pre-approved, straightforward, ready to use umbrellas.

International Banking

International Banking

Many people misunderstand the term International Banking. Various international centres have developed into highly reputable and regulated environments specifically positioned to deal with the international consultant where the level of regulation and investor protection is equivalent to, and occasionally better than, local banking centres. Many of the leading banking groups have established state of the art international banking facilities in these areas specifically for the busy international contractor and expat. Chesterfield is a recognised introducer of International contractors and expats to leading international banking providers.

The majority of banks are engaged in providing private banking facilities and the services offered extend beyond simple deposit and money transmissions. Some international contractors require confidentiality while others will require services to deal with such matters as foreign currency transactions, international mortgages, pensions and share dealing facilities.  Often e-banking and multi currency credit cards and debit cards are in high demand by the busy expat.

In line with international anti-money laundering regulations, Banks have detailed requirements they must legally comply with before they can open an account. We establish and provide an introduction to the leading international banking providers and advise on the most suitable arrangements for the international consultant and expat.

The range of international banking facilities Include:

  • Personal and company bank accounts
  • Personal and company credit card facilities
  • Cheque book and current accounts
  • Credit cards
  • Debit cards
  • Cash cards
  • Residential mortgage facilities
  • International commercial mortgage facilities
  • Internet banking

Own Limited Company

Some freelance contractors prefer to open their own limited company.  Running a limited company involves a great deal of tedious and labour intensive tasks including many requirements with strict deadlines and possible fines.

Chesterfield provides services of establishment of a contractors own company in many jursidictions and assistance with accounting, VAT, filing and year end requirements.  We also offer a wide variety of banking services or any other service normally required by a freelance contractor.

Usually freelance contractors, where the law dictates that a single person limited company is the most appropriate vehicle, seek to concentrate on their core business and require an easy, informative process to almost auto manage their own company.  Chesterfield has designed many innovative products which allow the freelance contractor to avail of the advantages of their own limited company without the headaches.

Contractor Insurance

A Guide to Contractor Insurance

A complex and once expensive area of contractor finance, many contractors are now looking at the various insurance policies which are available to protect you in the event of an accident at work, or claims against you for negligence. Chesterfield has teamed with contractor insurance specialists to help guide you through the maze.

IT contractors provide professional advice which is relied upon by others (clients). This means if you make a mistake in your work you have a direct financial responsibility to your client for the errors. Whilst you may consider the possibility remote, it does happen.

Increasingly, some clients are insisting on evidence of professional indemnity insurance and having this protection will prove to your clients that you are professional in your approach and will help in obtaining future work. Although mistakes are rare, these policies are now reasonably priced and will also provide peace of mind.

Professional Indemnity

Provides financial protection for your company and is designed to meet the cost of defending claims made against you, including damages that may become payable. Claims can occur where a client suffers a financial loss as a result of alleged mistakes or omissions on your part. You may even be sued by a client who is merely dissatisfied, but has no valid claim, leading to substantial legal costs and time away from contracts. Of course, such claims are rare.

Public Liability

This type of policy will protect you against your legal liability where you accidentally cause damage or loss to someone else's property (Examples: Coffee down the back of the computer or over the keyboard, knocking a laptop or other piece of IT equipment off a desk etc). Also, if you accidentally cause injury to someone whilst working at a clients premises (Examples: You have cables running from various machines to a PC you are working on and someone does not notice and trips over and injures themselves).
 

Tax & VAT Investigation Insurance

Protects you in the event of an investigation by the tax authorities - more and more contractors are investing in this type of policy. This insurance typically includes protection against VAT disputes with HM Customs & Excise and employer compliance investigations (PAYE,NIC,P11D). This type of cover should not cost too much, although some financial advisors resell packages at a premium, so it's best to shop around.

Home Office / Equipment Insurance

Since more and more contractors are working from home, these types of policies are intended to cover the loss or damage to equipment, premises, documents in the event of theft, accidental damage or any other unforeseen circumstances.
 

How much do these policies cost?

Policies of this type are far less expensive than you may think, although the final cost will depend on your individual circumstances. The cost of individual polices tend to depend on the following factors:

  • The annual turnover of a contractor's company
  • The nature of your business operation