Contracting in the UK is steadily growing in popularity, representing an increase of 63% since 2004 – research from the IPAG Business School in France bringing light to the growing wave of the iPro.
They classify iPros as “highly skilled self-employed individuals who work for themselves but do not employ others. They range from journalists and designers to ICT specialists and consultants.”
With this movement it is important for contractors to understand the reality of their working lives, and the regulatory framework they work within. Being a contractor is a very different lifestyle to that of an employee as there are more risks, but also many rewards.
If you want to know the answers to the following questions, then you’ve come to the right place:
- What are the trading options for contractors in the UK?
- What is the easiest trading option for a contractor in the UK?
- Which trading option is right for an independent contractor in the UK?
- How does becoming a contractor work?
- Responsibilities of becoming a contractor in the UK
- How to pay less tax as a contractor in the UK
- Risks of contracting in the UK
- How are contractors in the UK paid?
- Typical take home pay of a contractor in the UK
- Pros and cons of contracting in the UK
- Should you use an Employee Benefit Trust (EBT) or Offshore Scheme?
As contracting specialists, Square Mile Accounting has seen the need to provide information to help contractors in London work around the complexities of contracting. This guide concisely looks at trading options, compliance matters, IR35 and tips for contractors to run efficiently and profitably.
If you’d like to talk to one of our online chartered accountants, please request a complimentary call-back, at no charge here. Alternatively you can call us on: 0203 282 7109.