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Considering Contracting

Impartial advice if you are considering contracting

impartial advice on contractingStarting contracting can be a daunting prospect away from the safe haven of being a permanent employee.  You can feel overwhelmed with all the HMRC deadlines, paperwork, director’s responsibilities and not to mention the prospect of fines and penalties for late filings.

However, here at >>Nimble Jack Accounting we take the burden away and are here to help you every step of the way.  Let us take care of all your accounting and tax needs, leaving you with the freedom to focus on the more important things in life.

The advantages of contracting

  • Freedom – as your own boss, you can work on any client or project you wish and be in charge of your own financial destiny.
  • Get paid more – market research shows that contractors get paid more than their permanent counterparts.
  • Holidays – contracting gives you increased flexibility, where you can decide when and how much holiday to take.
  • Pay less tax – as an independent contractor our tax experts can help you massively increase your take home pay.

Some drawbacks of contracting

  • Lack of security – as a contractor you are typically on a short term contract, which may or may not be renewed.  However, often contracts do get renewed for longer periods and the variety of work you can be involved in is much larger.
  • Director responsibilities – as a director, HMRC and Companies House have numerous deadlines you have to keep on top off.  However, a good accountant will take care of this for you.
  • Benefits – as a contractor you miss out on benefits such as holiday and sick pay.  However, your contract price should more than cover this.

Next steps

So you’ve had time to think and you are ready to take the leap into the world of contracting.  Congratulations, we are here to for you and can help with setting up a limited company.

Our limited company packages are designed to help you every step of the way .  Rest assured, you are in safe hands and we will take the stress away from the whole process.

Any questions? Speak to one of our friendly accountants on 020 7969 2879.