Every contractor struggling with their limited company accounts needs a good accountant – and not just a good accountant, but a good contractor accountant who understands you and your business. But what makes a good contractor accountant?
Here’s our guide:
It may seem obvious, but an accountant who deals with contractors regularly will understand what you do.…
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The great advantage of being a self-employed contractor is that you can minimise your exposure to tax. Taking advantage of various tax breaks means you can be much better off than as an employee.
But tax can seem like a minefield to new contractors.…
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Contracting is like running your own business, with your skills as the product. It’s a great opportunity to maximise your income, minimise your tax liabilities and make it easy for your clients to deal with you. To achieve this, most contractors consider setting up a limited company or working through an umbrella company.…
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Finding contract work isn’t like finding a permanent job. Hiring permanent staff takes a long time, but contract roles are sometimes offered on the spot, or just on the recommendation of a recruitment agency. From the employer’s perspective, the risks of hiring the wrong contractor are low, while it can be difficult to move on a permanent employee who is under-performing.…
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Do I need contractor insurance? In a word – yes. Contractors have legal obligations towards their clients, which means you can be liable for losses caused by your actions. If you make an error, you bear financial responsibility for it and although it’s rare to find yourself on the receiving end of a claim, the resulting bill can be ruinous.…
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One of the great benefits of being a self-employed contractor is that you can reduce your tax liabilities in ways that permanent employees can’t.
Whilst you might be contracting to take home your hard earned money, it’s also important to know how the UK tax authorities deal with self-employed people, particularly a rather complicated set of rules known as IR35.…
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Not many people enjoy the prospect of negotiating a contract, whether it’s negotiating your first contract, or your 50th. Holding your nerve while you’re locked in contract negotiations with a wily agent isn’t easy.
But it’s not as hard as you might think, and ContractingWISE has helped plenty of contractors seal some great deals.…
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If you’re married or have a civil partnership, and your spouse doesn’t have a paying job, then you can make use of a useful tax-saving device called income splitting.
You can do this by structuring your income so that both you and your spouse can use your tax free allowance and basic rate of tax – a big saving compared to paying higher rate tax on the same amount.…
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Job satisfaction is a big part of becoming a contractor – but getting paid for your work is just as important. It should be as easy as sending an invoice, but unfortunately, sometimes you need to have an understanding of contract law, what your rights are and how to go about resolving a dispute.…
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