Thinking of taking that leap to work for yourself and become a contractor? This decision could be the beginning of a very successful venture and possibly the best decision you have made for yourself and your family. Becoming a contractor can be a little worrying if you have no experience in it, however many professionals are switching to contracting on a daily basis and have never looked back. Contracting allows you to be more flexible with higher financial gains, allowing you to have more time and money to dedicate to your family and other investments. Contractors can earn over £100k a year in non-management roles. Similar salary levels are highly unlikely in the permeant market.
If you are looking to commit to contracting, one of the key decisions you must make is how you are going to structure yourself. Many new contractors decide to either work through their own limited company as a director, or as an employee of an umbrella company. The best route for you will depend on your own circumstances. There are also some limitations depending on the sector you are working within and we suggest you give us a call directly for a free consultation regarding this.