As a leading FCSA Accredited Umbrella Company we know IR35 inside out. Whether you are a contractor, freelancer, recruitment agency or engager we’ll help you to quickly understand IR35 – with user-friendly videos, blogs, articles and guides.
When do you pay me?
Depending on the particular assignment you are working on you may be paid weekly, monthly, fortnightly or on a project-by-project basis. The vast majority of our employees are paid weekly, every Friday, one week in arrears.
Sometimes money can be tight, ask the team if you would like to be paid early!
What is NIERS?
All companies in the UK pay Employers National Insurance, which is on top of the employees salary. If you are being paid directly by a Recruitment Agency or Client then this will be paid by them. If you are contracting with Liquid Friday this amount is included within the uplifted rate that Liquid Friday receives for the services you provide.
What is the current tax code?
The standard tax code changes each year, for this tax year (2021-22) it’s 1257L. This means you can earn £12,570 per year without paying any tax. If you get paid weekly this means that the first £242 is tax free (or £1,048 if you get paid monthly).
Do I get a pension?
Yes, all entitled employees of Liquid Friday, are automatically enrolled in our pension scheme, run by NOW:Pensions. Alternatively ask the team if you would like us to contribute to a Private Pension.
What does W1 or M1 mean on my tax code?
A common suffix on the end of a tax code is W1 or M1. Your tax code may look like 1257L W1.
This stands for Week 1 or Month 1. This means it is a non-cumulative tax code, but you might have heard it called an emergency tax code.
It means that only one week of your tax allowance is applied to the payment without talking into account any tax you’ve already paid this year, or how much of your tax-free personal allowance has already been used.
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