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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

Contracting mindset tips: deliver what you promise or expect to pay the price
Contractors should always deliver what they’ve committed and contracted to deliver; if they fail to, they should expect to pay the price – literally.
�Employees have employment contracts and multi-levelled disciplinary procedures before� �hey get fired. Contractors have a legally binding contract for services, so if they don’t deliver, the clien�
Category: Articles: Contracting Mindset Tips | Tue, 12 Jul 2011

Contracting mindset tips: think in terms of the value you can offer your client
Contractors often sell their technical skills and expertise, yet clients are more interested in the value a contractor can add to their organisation.
�just on their specific expertise, will win better contracts. Are you interested in the model of blowtorch you�
Category: Articles: Contracting Mindset Tips | Mon, 05 Sept 2011

Contractor guide to the settlements legislation S624 ITTOIA 2005, formerly S660
Contractors can assign shares to a spouse despite the settlements legislation, because of the Arctic Systems case.
�ommercial transaction, the valuation process of a contracting business is inherently flawed. If an HMRC inspect�
Category: Articles: Settlements Legislation | Mon, 30 Jan 2012

Settlements legislation (S624/S660): minimising risks of an inspection and penalties
Contractors sharing income with a non-fee-earning partner can adopt a number of strategies to avoid an HMRC inspection that could result in penalties.
�ouse can make an investment and buy shares in the contracting business at market rate. This may be a good optio�
Category: Articles: Settlements Legislation | Mon, 24 Jul 2017

Why contractors need life insurance
Contractors don’t have employee benefits, so must ensure their loved ones have a financial safety net if the worst happens.
�tractors need life insurance because when they go contracting, they lose all their employee benefits and become�
Category: Articles: Contractor Life Insurance | Wed, 13 May 2015