Top Tips to Finding Work as a Contractor

integro Running Your Business

Life as a contractor is extremely rewarding but there is no denying that it has its difficulties. Probably the most difficult challenge you’ll face as a contractor is finding work and due to the temporary nature of your job you’ll need to develop a strong strategy to generate work as and when you need it. There is no quick fix ...

Security cleared IT contractor guide to expenses

integro Business Expenses

As a security cleared IT contractor you’ll incur a number of expenses for the purposes of running your business. The total of these expenses can be offset against your overall tax liability. Working through a limited company is the most tax efficient way of trading. Limited companies are able to claim for a wider range of expenses than standard self-employed ...

What is IR35?

integro IR35 Advice

If you are contractor or thinking about becoming one, you’ll have probably heard the term IR35 mentioned quite a few times – and it is something you always need to be aware of! An introduction to IR35 To give you a quick overview, it used to be that permanent employees would resign from their jobs only to return a few ...

Settling on your day rate: what’s the right starting point?

integro Starting Up

When you start out as a contractor one of the first things you’ll need to do is set your daily rate. You’ll need to calculate a suitable rate that represents fair value for the services that you will be providing your clients. There’s a lot to take into account and you shouldn’t just pluck a figure from the sky, but ...

Accountant or DIY taxes?

integro Running Your Business, Starting Up

If you are starting a business you’ll need to keep you accounts in order and notify HMRC of your earnings through filing self assessment tax returns, company accounts and much more. You might think that a start-up or one-man band isn’t big enough to warrant having an accountant, but in the following paragraphs we’ll tell you exactly why you need ...

Contractor FAQ

integro Running Your Business, Starting Up

Whether you are just starting out or have been contracting for a few years, you are bound to have some questions. We have answered the top questions that contractors have asked us over the years and compiled everything into an easy to read list below. If you have any further questions, please call our friendly accountants on 01525 303984. What ...

Spring Budget 2017 – What Contractors Need to Know

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Dividend allowance: The tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018*. A £2,000 dividend allowance will continue to mean that 80% of general investors pay no dividend tax, including those with sizeable investments (typically, up to £50,000). *Snap election.

Flat rate VAT – April 2017 changes explained

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The VAT Flat Rate Scheme makes it easier for small businesses to calculate the VAT they need to pay. Businesses can voluntarily register for VAT before their turnover reaches the £85,000 VAT registration threshold so they can make use of the flat rate scheme and have a cash advantage.

Limited vs Umbrella

integro Running Your Business, Starting Up

One of the first decisions you’ll face as a contractor is how you’re going to operate. For example, will you work as a sole trader, an umbrella employee, or will you trade through your own limited company? While all of the above options are open to someone wanting to work for themselves, each has its own advantages and disadvantages, and ...