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Why you need income protection to avoid major financial difficulties
You need income protection to ensure you and your family have an income if you becomes too ill to work.
�g cover. When choosing to leave employment and go contracting, you simply no longer have the safety net of sick� �an income when you are ‘on the bench’ in between contracts. There are two main types of income protection. L�

Category: Articles: Contractor Income Protection | Mon, 24 Oct 2016


Contractor Doctor: Can I claim payment protection working for an umbrella company?
When a contract is terminated, umbrella company contractors remain employed and can’t claim payment protection.
�h has a contract with an agency, which in turn is contracted by the end-user client to provide contractors. Co� �Dear Contractor Doctor, I have been contracting through an umbrella company and my contract was t� �not made redundant or given the sack, but that my contracts simply came to an end. What can I expect my umbre� �en contracting through an umbrella company and my contract was terminated early. Since then, I have managed�

Category: Articles: Contractor Income Protection | Tue, 27 Jun 2017


Contracting mindset tips: failure to consider the opportunity cost can be expensive
Contractors are often tempted to take contract offers below what they’re worth, but the opportunity cost can end up being more expensive than waiting.
�ailing to consider the opportunity costs of their contracting options may be making costly business decisions.� �a little short-sighted. If you have been between contracts for a few weeks and agents know this, expect offe� �s are tough. But the cost of taking a poorly paid contract can prove to have been an expensive mistake month�

Category: Articles: Contracting Mindset Tips | Fri, 23 Dec 2011


Contracting mindset tips: you can only send a sick note to yourself
Contractors who can’t work because they are ill can only send a sick note to one employer, which is their own limited company, not their client.
�for your company. If you are too ill to find new contracts, it is not the agency’s or client’s responsibilit� �k note to yourself, pay yourself sick pay and use contract law to explain to the client why you could not co�

Category: Articles: Contracting Mindset Tips | Thu, 06 Mar 2014


Contracting mindset tips: save money for sickness, holidays and time out of contract
Clients only pay contractors when they are delivering a service and, unlike employers, do not include paid sick days and holiday as part of the deal.
�expect to pay for services delivered When you go contracting, you become a service provider, just like your ga� �f for holidays or when you’re not working between contracts. Would you pay £300 to watch daytime TV? If your�

Category: Articles: Contracting Mindset Tips | Mon, 31 Oct 2016


Contractor banking: choosing a business bank account
Contractors who have decided to trade through a limited company must apply for a separate business bank account for their contracting business.
�any must set up a separate bank account for their contracting business , and may choose from a range of busines� �r contractors who are due to commence their first contract at short notice and will need to provide a proof�

Category: Articles: Contractor banking | Mon, 08 Aug 2016


Contracting mindset tips: Agencies & clients can’t change terms & conditions at will
Contractors have an agreement with their client to supply certain services in exchange for payment, so any changes in terms must be mutually agreed.
�agreeing a rate. If you are paid by the day, with contracted core hours of nine to five, and then your client� �As a contractor, you have a contract that details exactly what service you provide to�

Category: Articles: Contracting Mindset Tips | Mon, 14 Feb 2011


Contracting mindset tips: clauses preventing you bypassing agencies are enforceable
Restrictive covenants stopping contractors working direct for clients are enforceable & protect the investment agencies have made brokering the deal.
�e covenants in the contract that prevent you from contracting direct with the client . These covenants are enfo� �markets for their ‘roster’ of contractors. These contracts might otherwise not even exist, if it were not fo� �agencies to include restrictive covenants in the contract that prevent you from contracting direct with the�

Category: Articles: Contracting Mindset Tips | Tue, 01 Mar 2011


Contracting mindset tips: If you don’t like it, just quit and move on
Contractors can develop skills allowing them to pick great assignments, enabling them to quit contracts that aren’t challenging or enjoyable.
�ested in developing expert skills to enhance your contracting career and, when these are in greater demand, the� �work, can simply choose to quit and find another contract. Would you hang around for more abuse from a bull�

Category: Articles: Contracting Mindset Tips | Thu, 07 Apr 2011


Contracting mindset tips: flexible contracting income allows a choice when paying tax
Contractors have a degree of flexible control over how they manage their contracting income and when to pay tax, which employees can’t possibly have.
�deductions like ‘employee NI’ and ‘employer NI’. Contracting income is much more flexible, allowing you greate�

Category: Articles: Contracting Mindset Tips | Tue, 12 Apr 2011


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