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Looking to take the next step in your career?
Finding yourself in a situation where you are considering moving into contracting, whether it is because you want more flexibility, have been made redundant, or want to be involved with new and exciting projects, can be daunting.
Contracting comes with considerable benefits, and contractors often never make a return to the permanent job market. Working on a variety of projects on short term contracts, for many, is a more exciting way of working than would be achieved in a permanent role.
As a starting point the you need to decide whether to work either as an individual Limited Company or register with an Umbrella Company. If you chose to set up a Limited Company, you will be required to register with Companies House and appoint at least one director.
The director is responsible for the legal and ethical running of the company, and with this comes responsibilities:
- Payment of National Insurance contributions and income tax.
- Obligations to Companies House.
- Health and safety requirements.
- Employment law obligations.
Consideration to recent changes to Intermediaries’ Legislation (IR35) is essential and any organisation or agency with whom you enter into a contract must be IR35 compliant.
For more information on setting up your own limited company and around IR35, visit: http://www.contractoruk.com/first_timers/setting_up_your_contractor_company.html
It is worth bearing in mind that when you start your contract it is essential to be prepared to ‘hit the ground running’ ensuring you’re up to date with the latest trends, insights and innovations as unlike a permanent role, you are less likely to get support in training, and your impact on the business will be expected to be seen as early as possible. If you go into an interim role you need to be prepared for this, you should feel confident and excited about the move you’ve made into contracting.
Value Match regularly recruit for interim roles, register today as a candidate to keep up-to-date with the latest roles we’re recruiting for.