How the Wise system benefits subcontractors
Being self-employed is very different to traditional employment, with its own wide array of advantages and disadvantages – one commonly sighted drawback of being your own boss is having to deal with all of your admin and finances. In a recent survey, we carried out 37% of people worried about whether they’d be able to pay their bills working as self-employed and 22% worried about the sheer admin needed.
On the plus side, self-employed drivers can typically pay slightly less tax than employed drivers and get flexibility over their work, choosing a work-life balance that suits their individual circumstances.
We’ve worked with over 50,000 self-employed drivers, with the Wise platform helping to save time and stress whilst also maximising their take-home pay each week.
At Wise, we partner with Securitax, a company that specialises in helping self-employed individuals with their accounting and all things tax. Securitax does all the administrative work and has a team of accountants who can help you increase your income whilst making sure all of your HMRC-related affairs are in order.
How does Wise Work?
Wise provides two essential services to our drivers, both of which are optional. However, the overwhelming majority of self-employed drivers choose a product as it can help them save time, money and stress.
1. Wise Invoicing
For £12.50 per week Wise prepares all your invoices on your behalf, meaning that at the end of the year you will not need to pay for a high-street or online accountant, whose costs can be up to a thousand pounds for the year.
2. Wise Invoicing and Accountancy
With this service, not only does Wise prepare all your invoices on your behalf, but much more! For £15.00 per week, you will receive the following services:
- Securitax will set you up with HMRC and request your UTR number
- Securitax will advise you on which expenses you can claim to reduce your taxable income
- Securitax registers you for VAT, enabling you to increase your income
- Securitax completes all your VAT paperwork
- Securitax completes your end-of-year tax return
Also, all drivers that use the Wise app have access to hundreds of discounts at major retailers for FREE!
How can you start working with Wise?
In order to work with Wise, your main contractor must be set up on our system. If you’re a main contractor and are interested in finding out more about Wise and what we offer, book a 15-minute system demo here.
If you’re a subcontractor and are interested in Wise, refer your main contractor here and receive £100 if they are successfully set up on our platform.
