So you’ve decided to make the move from permanent employment to contracting? Congratulations! Whilst this is a fantastically exciting period of change it can also be confusing and a little daunting at times. Making sure you understand the key issues and deal with them appropriately can mean that your contracting experience runs smoothly and is enjoyable and hassle free.
How do you go about starting up as a contractor? In this guide we help you answer this question by exploring:
- how to keep one step ahead from the start
- what questions you need to ask yourself before you begin contracting
- how to successfully start up as a contractor
- what your trading structure should be based on your circumstances
- what Limited Companies are – their tax benefits and added protection
- what Umbrella companies are – less admin but more tax
- the advantages and disadvantages of Limited vs Umbrella companies
- Sole Traders vs partnerships – benefits vs risks
- the advantages and disadvantages of Sole Traders
- VAT – should you be registered?
- what is IR35 and how does it affect you?
- Chapter 5 Income Tax (Trading and Other Income) Act 2005
Once you’ve read this guide you should feel confident about whether you’re ready for contracting, what paths to take and how to get going. Download it now.