One of the most exciting points in your career will be the time when you want to take more control, possibly be your own boss and hopefully reap the rewards you know are available in the freelance contracting world.
Taking this initial step into the unknown can be a little daunting as there are many options to consider, such as:
- Do you work through your own limited company or via an umbrella company?
- Do you go direct to the end client or through an agency?
- Do you charge by hour or by the day?
- Do you take on multiple clients and spend half the time travelling from one site to the next?
- Do you go in-house on a 3, 6 or 12 month contract?
The best starting point will be to talk with your peers, make contact with those you know are actively contracting and find out which are the best clients and recruitment agencies to work with. There are a multitude of excellent clients out there needing your skills and equally there are many brilliant recruitment agencies that will be able to help in securing that first contract; you just need someone you know and trust to recommend which to speak with first.
Once you have spoken with your potential client or recruitment consultant and have agreed the initial details, such as the length of the contract and importantly your rate of pay; you will have an idea of the sums involved.
Almost every time, going the limited route will benefit anyone entering the contracting world with the intent to stay there.
The next step is to find out a little about IR35 and the impact on your contract and then to decide which route to take, whether you are going to work via an umbrella company or through your own limited company.
If you want to take the limited route we can definitely help you. First you will need to form a limited company and open a company bank account; we can help you arrange both of these steps in just a few minutes. Company Formation Solution.
Why Integro Accounting?
Integro Accounting is the UK’s only specialist provider of fixed fee, limited company accountancy services for contractors, consultants and freelancers that was established to an award winning standard – our Practice Manager, Maria Hickmott FCCA, won The British Accountancy Awards’ ‘Accountant of the Year’ in 2011.
We were set up with the vision of providing a service that is the ultimate for the dynamic, busy professional of today in a language you understand.
Integro Accounting have designed a bespoke service for the contractor who is always on the go; never forgetting that one size will never fit all.
The relationship you have with your accountant is the most important factor in our service which is why we will always offer unlimited contact with your own personal accountant; whether that contact is via the phone, email or face to face.
We have our 3 offices located in London, the South-West and on the Bedfordshire and Buckinghamshire border. There are also meeting locations in many of the major cities and towns across the Home counties, South-West and South Wales, all conveniently placed so that you never have to travel far to meet your accountant.
If you have any questions about contracting or would like to find out more about how Integro Accounting can help you and business please call Christian on 01525 303984, email firstname.lastname@example.org or request a callback.