Do I need my own limited company?

• Optimal Option Ltd is the only limited company that you need, however if you already have your own limited company and you prefer to continue using it, then that is not a problem for us.

Who is my employer?

• The most common setup with us is for consultants to be freelance, i.e. they are self-employed. Where a consultant has their own limited company, then they are typically an employee of that company. Such a company would be a Personal Services Company in UK with reference to IR35.

Will I get holiday, retirement, redundancy or sick pay?

• The usual situation is for freelancers to setup their own retirement fund / pension scheme and make contributions. Self-employed workers are not eligible for holiday, sick or maternity pay, nor redundancy and retirement payments.

When do I get paid?

• We setup new clients same day which includes a bank payment template for our use. Once payment is received from the client, a bank transfer is done within one business day. Allow 2 to 3 business days for the funds to clear on your account. The cost of the bank charge is deducted from your invoice value.

Is there a subscription or membership fee?

• No, there is no subscription fee, no setup fee and no termination fee. This is a pay on demand service, if you don't work we don't charge.

How often do I get paid?

• Usually monthly subject to contract terms and conditions, options;
  • - Monthly billing event
  • - Weekly billing event
  We can also do 4-weekly and 2-weekly billing cycles. Fees increase for the increased work activity. Umbrella service fees are based on a single billing event however doubling the billing frequency does not double the fees!