Contractors

  Contractor Information Download

RACS Group offers three main products for contract workers in the UK:

1. Run your own Personal Services Company (RACS PSC).

• Working as a contractor and a director through your own company gives you total freedom, flexibility and the potential to earn and negotiate better rates with billing agents such as Recruitment Agencies and End User Clients.
• Tax-efficient models allow you to offset much of the expenditure incurred in the running of your business.
• As a shareholder of your company you can be paid a salary and a dividend.
• All of this can be achieved when you instruct the services of third-party professionals through RACS.

2. Join our 'Umbrella' solution (RACS Collective).

• Many contractors have opted for our Salary and Expenses payroll company which allows individuals to offset genuine business expenses against PAYE liabilities.
• Enjoy the security of being employed, with money set aside for holiday pay in accordance with working time legislation and all statutory benefits paid (such as sick pay) where these meet the legal criteria.
• We are compliant with HMRC regulations and only allow legitimate claims for expenses.
• We have been audited by the AEMC and are Umbrella Supermarket approved.

3. Run your own Construction Industry PSC scheme (RACS CIS)

• Similar in many respects to the PSC Model.
• HMRC CIS % withheld against tax liability usually ensuring an annual tax rebate.