| Setting up
a limited Company |
As a member of the Interim Management Association,
Calibre One requires that our Interim Managers trade
through a Limited Company. We contract with the Limited
Company for the services of the Interim Manager.
It is cheap and easy to buy a company off the shelf
or alternatively you can incorporate your own company.
We can recommend a Company to help you set up and administer
your Limited Company and organise tax, NI and VAT for
you.
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| Regulations and opting
out |
The Interim Management industry is regulated under The
Conduct of Employment Agencies and Employment Businesses
Regulations 2003. This legislation allows limited company
contractors to opt out of the legislation. The rate of
pay available to an interim manager who has opted out
will be greater than that available to one who is opted
in. Guidance on opting in or out of the regulations is
available from the Institute of Interim Management. |
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| Payment |
Interim Managers are paid on the basis of days worked.
Each Interim Manager invoices Calibre One at the end of
each month and payment is made on the 15th of the following
month, provided the timesheet and invoice has been received
on or before the 6th of that month. |
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| Professional
Indemnity Insurance |
The commercial world is becoming ever more litigious.
Professional indemnity insurance is therefore mandatory
for all Interim Managers. Calibre One can recommend reputable
providers. |
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| Tax/IR35 |
The tax rules governing Interim Managers operating through
limited companies are commonly referred to as IR35 after
the 1999 budget press release numbered IR35 in which the
proposals were first proposed. Calibre One does not offer
tax advice and recommends that Interim Managers take professional
advice with regard to their tax affairs. |
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| Industry Bodies
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The Interim Management Association (IMA) |
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The IMA is the trade body created to maintain the highest professional
and ethical standards within the Interim Management
industry. All members adhere to a strict code of conduct,
which offers quality assurance to both clients and Interim
Managers. Calibre One is a member of the IMA.
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Institute of Interim Management (IIM) |
| |
The IIM is the UK’s professional body for individuals employed as Interim Managers. The IIM exists to set and enforce ethical standards to be observed by practising Interim Managers, and to provide a framework of professional development and membership grades reflecting the education, knowledge and competence required for the effective conduct of interim management. The Institute is an organisation within the Institute of Management and jointly the provide members with a comprehensive range of publications, information and advisory services, training courses, conferences, seminars and networking opportunities.
Please visit our Candidate Resources page for links to a selection of useful organisations and web resources. |
