Contractors outside of IR35 earn significant net incomes and, with so much cash in their hands, it is tempting to let the future look after itself and forget to invest in tax efficient provision for the future.
State pensions are forecast to leave the retired without sufficient income to cover basic living costs and the importance of investing for the future has never been more important. Contractors can stash their cash in tax efficient pension schemes and tax free investment vehicles such as Individual Savings Accounts (ISAs).
Are you putting enough by for a comfortable retirement?