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Considering self-employment? Not sure where to start? You’re in the right place.
If you’re planning on taking the leap to work for yourself and become a contractor, one of the key decisions you must make is how you’re going to structure yourself. Many new contractors decide to either work through their own limited company as a limited company director, or as an employee of an umbrella company. The best route for you will depend on your own unique circumstances. Our easy to understand ‘Limited vs Umbrella’ video is a great place to start on your decision-making process.
It’s no secret that contractors tend to take home more of their hard-earned pay than their employed counter parts but just how much could you be bringing home once you become self-employed? Our simple take home pay calculator will give you an idea of what your take home pay could be as a contractor working through a limited company.
The biggest step in any new contractors career is finding your first contract. But where do you start? Should you use an agency or a job board? How should you structure your contractor CV? We’ve discussed everything in our guide to finding a contract.
Contracting can lead to some costs; whether it be a new laptop for your new venture or the cost of travelling further afield for a contract. Fortunately, you can claim tax relief on legitimate business expenses.
IR35; a key piece of legislation which can shape how you pay yourself for each contract you undertake. Unfortunately, it’s not always straight forward however at SJD Accountancy we’re IR35 experts so can give advice and answer any question you may have. For a simple overview of IR35, watch our video.