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main | UK contractor | UK permanent | NZ solutions | Australian solutions |
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Contractors have options
Each option comes with certain risks, rewards and responsibilities. Setting up your own company, for example, will require you to submit accounts to the HMRC and ensure that you are meeting your responsibilities as a director. We outline each of the options below.
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Limited company A limited company is a great vehicle if you are genuinely in business for yourself. Limited companies, or at least the providers of them, have recently been the target of much HMRC (the UK tax man) attention. It is fair to say that the risk of using a limited company has greatly increased. You will need to get professional indemnity insurance, appoint accountants and sign contracts between yourself and your clients. We do not recommend them unless you are in control of every aspect of the company - which is a lot of work. You cannot employ someone to manage all aspects of your company - so be careful of companies offering to do just that. |
Umbrella company Under an umbrella company you work for someone a company and they take care of all your payroll and tax details. This way you get continuity of employment as they are always your employer. This can be a great option if you don't want to manage your own affairs and make some tax savings. The umbrella will generally look after all your We recommend this as the best option for people either already in the UK or intending on travelling over there. If you want us to refer you through to some providers...click here to email us |
Paid direct This is really like being an employee in terms of pay with the agency or client directly deducting national insurance and PAYE tax from your salary. The problem with being paid direct is all the paperwork that goes with each contract as their is no continuity of employment. If you want to make any savings then check out our permanent employees section as this is the most applicable to you...click here |
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about us | privacy policy | legal | testimonials | jargon |
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Contractors play a
massive role in the UK market giving individuals control of their working
hours and rates and companies control of their costs. When you
contract in the UK market there are a number of potential avenues open to
you in terms of how you get paid, you can either: