Search Results

Contractor badges of trade: HMRC rules on being in business
Contractors who demonstrate badges of trade according to HMRC’s rules are in business on their own account, explains Emily Coltman of FreeAgent.
�business and it can also assist with determining IR35 status . “HMRC has nine ‘badges of trade’ that it� �dditional services that are related to their core contracting activities may also be carrying on a trade. Coltm�
Category: Articles: Tax Issues | Wed, 10 Jun 2015

Counting the true cost of a contractor umbrella company – contractor checklist
Contractors can use Contractor Calculator’s checklist to spot the hidden costs in advertised umbrella company fees.
�been post-2000. That was when the implications of IR35 began to sink in, leading to a mushrooming of ‘ne� �convenient trading solution whilst they decide if contracting is a lifestyle choice for them, or those consider� �ll print to see that they are offering employment contracts. That is one of many checks contractors should ma� �ms actually apply to their personal situation and contract. If the umbrella is advertising its services as f�
Category: Articles: Contractor umbrellas companies | Tue, 08 May 2018

Should contractors use agents to find contracts?
Examines the financial issues and practicalities when deciding whether to use agents to find contracts or go it alone.
�gency mark up: 15% [They charge for £46 per hour] IR35 status: outside [although for this argument it ma� �much higher rate (if any) simply because you are contracting directly. Let’s assume a current contract with th� �hing like ‘I think I can get you more than that.’ Contracts which have no fixed margin agreement provide an o� �ns when trying to find work: Use agencies. Find a contract yourself. This article examines the financial con�
Category: Articles: Job Search | Fri, 20 Apr 2007

Tax efficient distribution of contractor funds using members’ voluntary liquidation
Contractors closing a limited company with cash in excess of £50,000 can use a members’ voluntary liquidation (MVL) to extract funds tax efficiently.
�at any risks associated with the company, such as IR35 or claims from clients, are minimised. Alternativ� �ontractors to consider exit strategies from their contracting business well before the end of their company’s l�
Category: Articles: Limited Companies | Thu, 31 Jan 2013

Using recruitment agencies to hire contractors
Agencies can remove much of the burden of finding and hiring contractors from a client and can also add value, explains Ashley Cooper of Parc Ellis.
�lations and opt-outs , debt transfer provisions , IR35 and other tax legislation, plus employment rights� �hen look online and find the agencies advertising contracts like the one you want to advertise. Pick two or t� �tinues Cooper. “And transparency when it comes to contract rates is vital. No-one expects an agency not to h�
Category: Articles: Hiring Contractors | Tue, 24 Nov 2009

The benefits of hiring an expert contractor
The benefits a contractor can bring to a client’s organisation are huge and include new skills and flexibility that permanent employees cannot match.
�of benefits to the client organisations they are contracted by. Most notably, they can be picked up and put d� �ntractors cite the main reason they started their contracting career was to get away from office politics and a� �ing the services of a supplier and not starting a contract of employment with an employee. Employees have ri�
Category: Articles: Hiring Contractors | Wed, 16 Dec 2009

Paying your contractor – timesheets, invoices and payment
Unless clients sign timesheets and process invoices promptly, contractors don’t get paid. This can delay project delivery and lead to legal action.
�company to raise an invoice. If the contractor is contracting direct through their own limited company, they wi� �as, although contractors are not employees, their contracts give them the right to be paid regularly, accurat� �ontractor’s invoice, could constitute a breach of contract, which if not remedied swiftly, will leave the cl�
Category: Articles: Hiring Contractors | Mon, 08 Feb 2010

Contractor offshore tax solutions: risks and benefits explained
Need to understand the risks and benefits of offshore tax solutions? Use the guide to make an informed decision.
�for contractors Ultimately, the downside risk of contracting through an offshore tax solution is that HMRC dec� �reasing net income from, typically, 65% to 85% of contract value. But solutions are not appropriate for all�
Category: Articles: Contractor Offshore Solutions | Wed, 14 Jun 2017

Contractor interview: getting off to a good start
Samuel Muwonge started contracting when just out of the university when he saw that it offered more opportunities than permanent employment. And it fit his lifestyle. Now after about a year, he's doing very well, thanks.
�This contractor started off straight into contracting and has never looked back. Right from Uni Samuel� �With Agencies Since then, Muwonge has had several contracts, all through agencies. First he did a stint at a�
Category: Articles: Contractor Interviews | Mon, 07 Jan 2008

Contractor interview: steve sammut grows a business despite everything
Contractor Steve Sammut started off 15 years ago with nothing but an idea. Now he runs a business that employs 50 people. And he's done it despite the shocks of adverse fortune.
�ould be a prime example. Building A Business From Contracting The 40-year old Sammut has built a business contr� �saw an opportunity to provide these lessons under contract with schools which could no longer offer them the�
Category: Articles: Contractor Interviews | Fri, 28 Mar 2008