FAQs for Permanent Candidates:
Why should I register with PiR?
PiR are focused exclusively in the life science sector and understand the issues faced by pharmaceutical, biotechnology, diagnostic and medical device companies. We also have a thorough understanding of the needs of our candidates.
We are committed to working to the highest standards and will ensure that in our communication with you we will strive to be honest, transparent, professional and positive, and we will treat you with respect at all times.
Can PiR help me find a job?
The team at PiR has particular expertise across high-demand functions, where demand is greater than supply and where we have developed a strong candidate network, such as Advanced Therapies, Medical, Regulatory, Programme Management, Supply Chain, Market Access, Health Economics and Outcomes Research (HEOR), Pricing and Reimbursement as well as senior level Commercial roles.
We cannot guarantee to find you a job. We are client-driven and work only to fill vacancies as they are assigned to us. However, should a suitable role become available, you can trust us to ensure that you are considered fairly and objectively, and we will make sure that we keep in close contact with you as your application progresses.
What will you do with my CV?
We assure you that any personal information, such as your CV, your salary and your referees, is held securely on our database. We will not pass your information to anyone without your permission and will not give any of your contact details to any third parties.
FAQs for Interim Managers:
Why do my clients or the interim provider insist that I have my own limited company?
There are six very sound reasons for this:
- To avoid employment agency regulations including possible PAYE complications
- Your clients avoid the legal burden of employing a permanent member of staff (minimum wage, redundancy, SSP, maternity leave etc)
- Your clients have no hidden employment costs (pensions, holiday pay and other long-term overheads)
- Your clients have no responsibility to operate PAYE on your consultancy fees. This is extremely important since, if you are a sole trader, the Inspector of Taxes could dispute your status and, in certain circumstances, look to your client for income tax and national insurance on your fees long after employment has ceased
- Being employed by your own company is indisputable proof that you are not employed by your client
- PiR is only able to use its back-to-back contract with limited companies. If you are operating as a sole trader we may not be able assist you, this will depend on our client’s flexibility
What is different about a company?
A company is a separate legal entity, and when you set up your own company you become both the owner of the company and an employee of the company. This is why you have to pay for the shares. Your company charges fees to your clients for your services, and remunerates you by paying you a salary and/or dividends. PAYE must be operated on salaries, and the company may pay any other expenses that relate to the operation of the company. The company must have its own bank account and in this way company expenditure is kept separate from personal expenditure.
Should I set up my company now or wait until I get my first assignment?
The choice is entirely yours. If you set it up early, this would enable you to have everything ready for when you start your first assignment. Also, having your company in place before you approach interim providers or potential clients may help to secure a contract.
Can I start work before the company is incorporated?
Yes, provided any invoices for the work you have done are dated after the date of incorporation. We will also need to clarify this with the client to ensure they are happy for work to begin whilst contracts are being completed. It is ultimately their decision.
Can I sign a contract before the company is incorporated?
No. You cannot enter into contracts in the name of a company before the company has been incorporated. However, you could check with Companies House that the company name is available and draw up a contract in the proposed name of the company, leaving the date to be inserted when the certificate of incorporation is received.
When can I set up the company bank account?
As soon as you receive the certificate of incorporation, you will be able to open the company bank account, but you would be well advised to contact the bank prior to that to complete all the documentation at the earliest possible time. You are also strongly advised to choose an account which provides PC and/or telephone banking since this will speed up payment times. Your chosen bank may require that the mandate to open a company bank account is countersigned by the Company Secretary and it may also require identification for the Company Secretary.
Do I need to be registered for VAT?
(Information provided by Competex Limited; www.competex.co.uk)
You are obliged to register for VAT only if your income exceeds a certain limit in a full year. However, if your income is below this limit you may still register on a voluntary basis and there are advantages in doing so. You will be able to reclaim a certain amount of VAT, and it looks professional. Accounting for VAT is not complicated and we would recommend registering. Further information can be found on the ‘HMRC website’.