Wallstreet Recruitment

Candidates - Contingency Personnel

Temporary and Contract Opportunities

At Wallstreet Recruitment we act on behalf of a wide range of clients from top tier investment houses, global custodians and brokers through to the smaller entrepreneurial businesses. Opportunities are available to candidates with experience at all levels (from junior to senior positions) and will include short and longer term assignments across a variety of products, disciplines and projects. To assist our candidates with their search our dedicated and professional consultants offer a pro-active and thorough service, including the very best careers advice and guidance and up-to-date market information.

Whatever your requirement our consultants will work closely with you to identify the opportunities that will match your experience and aspirations. The choice is yours….

We are always seeking experienced professionals with excellent references for immediate assignments.  In turn, we will endeavour to secure excellent competitive hourly and daily rates on your behalf. If you have what it takes then contact us immediately.

Required Documentation

The following documents are required from successful candidates on becoming a Wallstreet Consultant or temporary employee:

  • At least two references to be provided at the earliest opportunity
  • Passport (for copying) and current work permits (if applicable)
  • Correct bank details including account name, number and sort code
  • Latest P45 or completed form P46.

For Limited Companies only

  • Certificate of Incorporation
  • Proof of Directorship (form 288a)
  • VAT Registration Certificate if applicable
  • Company bank details (if offshore must be on bank stationery)
  • Name and address of Accountant.

Wallstreet Temporary and Limited Company Payroll Procedures

The following payroll procedures are applicable during your time with us.

  • ALL:  Completed and authorised timesheets to be submitted to us by fax/email at the close of business at the end of each working week (unless specified otherwise).
  • ALL:  Information entered on timesheets needs to be legible and clear and that any corrections made are initialled by your line Manager. Please note timesheets received which are incomplete or are without an authorised signature will not be processed.
  • ALL:  Copies of timesheets emailed or faxed should be retained incase of a discrepancy arising.
  • Invoices issued by Limited Companies must be submitted on the first working day following the end of the month being invoiced for.
  • Payment to temporary employees will be made weekly in arrears.
  • Payments to Limited Companies will be made monthly in arrears.
  • Salary and invoice payments due will be triggered by BACS payments directly into your bank account. We therefore ask that you provide us with your bank details at the earliest opportunity.
  • If these procedures are not followed correctly then delays in payment may occur.
  • If there are any questions regarding the above please contact us.

We take this opportunity of thanking you for approaching Wallstreet Recruitment Ltd to secure your new assignment. We wish you every success in your new role and we look forward to a successful and continued working relationship.

Intermediaries Legislation (IR35) - Working through an intermediary, such as a service company.

The Intermediaries legislation was introduced on 6th April 2000. It was first proposed by the Chancellor in the 1999 Budget and details were given in the Budget press release numbered IR35. Following extensive consultation, revised proposals were announced in a new press release dated 23 September 1999. However, the legislation is now commonly referred to as ‘IR35’.

The aim of the legislation is to eliminate the avoidance of tax and National Insurance Contributions (NICs) through the use of intermediaries, such as service companies or partnerships, in circumstances where an individual worker would otherwise -

  • For tax purposes, be regarded as an employee of the client; and
  • For NICs purposes, be regarded as employed in employed earner’s employment by the client.

Prior to the introduction of the legislation, an individual could avoid being taxed as an employee on payments for services and paying Class 1 NIC by providing those services through an intermediary. The worker could take the money out of the intermediary, normally a service company, in the form of dividends instead of salary. As dividends are not liable to NICs, the use of a dividend remuneration strategy results in the worker paying less in NICs than either a conventional employee or a self-employed person. And PAYE would not apply to the dividends.

The legislation ensures that, if the relationship between the worker and the client would have been one of employment had it not been for an intermediary, such as a service company or a partnership, the worker pays broadly tax and NICs on a basis which is fair in relation to what an employee of the client would pay.

For further information go to www.hmrc.gov.uk/IR35

European Working Time Directive (EWTD)

A directive from the Council of the European Union (93/104/EC) to protect the health and safety of workers in the European Union. It lays down minimum requirements in relation to working hours, rest periods, annual leave and working arrangements for night workers. The Directive was enacted in UK law as the Working Time Regulations, which took effect from 1 October 1998.

Key features are the limiting of the maximum length of a working week to 48 hours in 7 days, and a minimum rest period of 11 hours in each 24 hours. Although the directive applies to all member states, in the United Kingdom it is possible to "opt out" of the 48 hour working week in order to work longer hours.