The Wikipedia definition of Project Management is the discipline of planning, organising and managing resources to bring about the successful completion of specific project goals and objectives.
However, there is no mention of all the other pressures project managers are constantly under, such as: ever changing government regulations, competitive pressures, clients who change their minds mid way through a project. To cap it all, if you’re an owner managed consultant or contractor you have to allow sufficient time to manage your tax affairs so you don’t pay too much or too little tax or miss a deadline and face penalties from HM Revenue and Customs.
As in many industry sectors, more and more employers would rather hire external consultants and contractors as it provides them with a truly flexible ‘call on demand’ work force. It’s a win-win relationship as the consultants and contractor’s also have much more flexibility, freedom from internal politics not to mention higher rates of pay. Consultants and contractors almost always earn more than their employed counterparts which is only fair considering the loss of holiday pay, sick pay, pensions and other employee benefits.
If you’re interested in the savings you could make to maximise your earnings, have a look at some of these pages
- Pay less tax – advice on how contractors can pay less tax
- Going limited – why it’s so much more tax efficient
- Take home pay calculator – the net pay you could make through a limited company
- Expenses – which expenses can you claim?
- Finding contractor work – struggling to find work? Here are some handy hints to help you on your way