Are you thinking of becoming a contractor?
Is contracting right for me?
What should I know before becoming a contractor?
If you’re seriously thinking about moving from permanent employment to contracting, there are some questions you need to ask yourself.
How will you handle your finances, for instances? What changes will it make to your private life?
How often will you have to do paperwork to keep HMRC happy, and more.
Partnering with the right service providers can take a lot of this weight from your shoulders and leave you to concentrate on what matters most – your day-to-day working life.
It mostly depends on what you yourself feel comfortable and confident handling in your new role as a contractor. If you want to do it all, then it may be worth setting up a limited company.
If you’re set on solely becoming a contractor, though, then it’s advisable to work with an experienced umbrella company.
The most important thing to keep in mind is each choice you make as a contractor will impact on the next.
So if, for instance, you do decide to set up a limited company, it’s highly advisable you work with an accountant. There’s no need to find one if you partner with an umbrella though; they’ll handle accountancy for you.
Again, the more informed you are about what it means to be a contractor, the less chances mistakes will be made as you begin an exciting new chapter in your life.
