We want you to get the most out of working with Crest Plus. Please find below details of how you are able to optimise your earnings through our various solutions.
As an employee of an Umbrella Company you are entitled to claim for legitimate business expenses incurred while working on assignments for Crest Plus Exchange Limited.
How do expenses work?
We can pay travel, accommodation and subsistence expenses without deducting tax if the site where you are conducting your assignment is considered to be a temporary workplace. A site will qualify as a temporary workplace if:
You are expected to work there for less than 24 months. If at any time it becomes clear that you will work at a particular site for more than 24 months, you will have to stop claiming expenses from that time. Any time that you worked at the site before you started to work for Crest Plus Exchange Limited is included in the 24-month period.
You are expected to work at more than one site whilst employed by Crest Plus Exchange Limited. A workplace would be deemed to be permanent if it is the only site where you work whilst employed by Crest Plus Exchange Limited.
Processing Claims
In order for your expenses to be processed promptly, the form must reach us by the Wednesday after the week in which they were incurred. The form must be completed correctly, include all relevant receipts and be signed and dated by you, the employee. If the forms are incorrectly completed, they will be returned to you for amendment.
You must endeavour to submit Expense Claim Forms on a weekly basis. If you send in a backlog of expense claims, we will be unable to process them in a single week.
As a self-employed subcontractor, you are entitled to claim for legitimate business expenses incurred while working on projects for either Crest Plus Contracting or C G Construction Services, which are trading names of Crest Plus Operations Limited.
Payment Advice
As a self-employed subcontractor, you should keep all of your payment advice notes to assist in the creation of your year-end accounts, and with the completion of your annual HM Revenue & Customs self-assessment form. If you lose any of your Crest Plus Contracting or C G Construction Services payment advices, we can reprint them for you, as we will retain a complete record of all sums paid.
Expenses
You should also retain detailed records of all expenses that you incur in pursuing your business, together with all original receipts to prove your business expenditure. This is particularly relevant to your travel costs. Legitimate expenses will reduce the amount of tax payable, or even form the basis for a tax refund at the end of the year.
Accounts and Taxation – Freelance Plus
We recommend that you receive advice and assistance for the creation of your annual accounts and the calculation of tax. If you do not have a professional advisor to assist you, we will be happy to refer you to one of our Independent Accountancy Service Provider.
Accounts and Tax Refund – CIS Plus
With a CIS rate of deduction at 20%, it is probable that you will be entitled to reclaim part of the CIS deduction at the end of the year. It has never been more important to keep your records in good order. We recommend that you receive advice and assistance for the creation of your annual accounts and the calculation of tax. If you do not have a professional advisor to assist you, we will be happy to refer you to one of our Independent Accountancy Service Provider.
HM Revenue & Customs Verification – CIS Plus
All of our existing subcontractors have been verified with HM Revenue & Customs, and will accordingly only experience a CIS deduction of 20%. Once verified with HM Revenue & Customs, C G Construction Services subcontractors should bear in mind that a change of contractor may lead to delays in obtaining a fresh verification, and a 30% deduction may result.
Contracting Calculator
For a basic calculation of how you could optimise your earnings through one of our contracting solutions, take a look at our Contracting Calculator or contact us.
These are only examples, and for a more detailed consultation based on your personal circumstances please contact us.