What is a

Personal Service

Company?

A Personal Service Company (PSC) is your own limited company, putting you in control of how you manage your finances and taxes. If you’ll be contracting for a few years, and want to maximise your wealth planning opportunities, a PSC can be a great solution.

Who uses a Personal Services Companies

These are typically used by those trying contracting for the first time and who are not ready to set up their own personal service company at first. Additionally contractors, both new and experienced, who are working under a short term contract.

Who uses a Personal Service Company

These are typically used by those who are interested in contracting for the medium or longer term, and who wish to maximise control of their finances and wealth planning.

What are the benefits of a Personal Service Company?

  • Maximise control of your finances, taxes, and wealth planning
  • Spread your salary payments as you choose
  • Greater range and flexibility of allowable expenses
  • Buy assets such as a company car

  • Retain funds in your company to provide an income when not contracting, or to maximise tax planning options

  • You are the owner of the company and in charge or all decisions, with Fenero as your expert accountant and advisor

When a Personal Service Company might not be right for you…

  • There is a set-up fee to incorporate your company
  • The setup in not immediate due to the legal company incorporation process
  • You need to appoint a second person to act as a company Secretary for your company or appoint Fenero as your Company Secretary
  • You can’t just walk away when you finish contracting, a company closedown process is required
  • You will need to submit an income tax return for each tax year that you are a company Director

MyFenero PLATFORM PSC

Why Choose Fenero for your Personal Service Company?

  • Dedicated Account Manager and Experienced Accountant.
  • 24/7 Access to myFeneroPSC online platform to manage your invoices, payroll, expenses and financial information
  • Access to lower cost Insurance via Fenero group rates
  • Proactive tax and financial planning support to maximise your contracting income.

  • Access to free health and wellbeing services

  • Premium award-winning service, great value pricing.

Your dedicated team

When you work with Fenero you will work with your own team dedicated to a personalised service for you. When you join, you will be introduced to your Account Manager.

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Paul Skelton
Solutions Team Manager
paul@fenero.ie

Debie McGill
Customer Experience Team  Manager
debie@fenero.ie

Costine Chear
Customer Onboarding Team Manager
costine@fenero.ie

Supporting
your wellbeing

Our commitment to your career as a contractor goes far beyond managing your income and taxes. We offer a range of benefits to support your overall financial and general wellbeing, available to all Fenero contractors at every stage of your journey.

Plan your financial success

Book a free initial review meeting with our Financial Wellbeing Advisor to discuss your financial goals and how best to achieve them. Talk to us about pension planning, income protection, life insurances, and savings and investments.

Save money on health insurance

As a Fenero contractor, you can claim a 5% discount on all Laya Healthcare plans.

Support for you and your family

Our Contractor Wellbeing Programme is completely free, confidential and available for you and your immediate family to use. Managed by a specialist independent company, it offers medical, life management and personal support services, delivered by highly-qualified clinical professionals.

The program includes:

  • 24 hour medical helpline, including GP call-back service

  • 24 hour life management helpline
  • Telephone counselling
  • Face to face counselling services

Which solution is best for you?

The summary below highlights which contracting solution is typically best for many common circumstances and needs.

YOU ARE

PAYE UMBRELLA

DIRECTOR UMBRELLA

PERSONAL SERVICE COMPANY

First time contractor

Need an immediate set up

Short term contact (<12 months)

Career contractor

Daily rate €200+

Daily rate €400+

Claiming Business Expenses

Need Insurance

YOUR CIRCUMSTANCE

PAYE UMBRELLA

DIRECTOR UMBRELLA

PERSONAL SERVICES COMPANY

First time contractor

Need a immediate set up

Short term contact (<12 months)

Career contractor

Daily rate €200+

Daily rate €400+

Claiming Business Expenses

Need Insurance

YOUR CIRCUMSTANCE

PAYE UMBRELLA

DIRECTOR UMBRELLA

PERSONAL SERVICE COMPANY

First time contractor

Need An immediate set up

Short term contact (<12 months)

Career contractor

Daily rate €200+

Daily rate €400+

Claiming Business Expenses

Need Insurance

This table is just a guide. As most people will need to weigh up a combination of all these facts, we highly recommend a chat with our expert, friendly Solutions Advisors before you choose your solution, who will provide you with:

  • Detailed explanations of each of the solutions.
  • Personalised illustrative calculations of our expected net take- home pay under each solution.
  • Help to pick the best option by reviewing your rate of pay, the length of your contract, your desired PRSI status and any other personal circumstances which are important to you.

If your circumstances change during your contract, it may be beneficial for you to switch to a new structure. Throughout your contract, your Account Manager will give you advice on this and help you make the change if and when it makes sense to do so.

Pricing

We are straight-talking tax and financial experts, with a single-minded mission to deliver market leading customer experience to contractors.

PERSONAL SERVICE COMPANY

Great if…

  • You’re a career contractor
  • Daily rate €200 +
  • Daily rate €400 +
  • Claiming Business Expenses
  • Need insurance

€179/month

NA

What’s Included?

  • Service level guarantee

  • Monthly payroll

  • VAT returns

  • Annual bookkeeping

  • Annual financial statements

  • Annual corporation tax return

  • Annual abridged accounts

  • B1 Annual Return for CRO

  • Tax advice to maximise retention rates

  • Wellbeing Programme

Pricing

How can we help you?
Speak to Paul, Laura or Darren in our Solutions Team today

Tel. 01-6877400   hello@fenero.ie