New to Contracting: Trading Options

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Summary

1. Forming your own limited company offers the greatest flexibility, tax planning opportunities and control.

2. Becoming an Umbrella Company Employee is suitable for lower-earning contractors with few expenses who intend to return to conventional employment within 12 months. The fees charged by an Umbrella Service Provider are broadly similar to those of an accountancy firm providing bookkeeping and accountancy services to a Personal Service Company.

3. A fixed-term engagement as a PAYE Employee would be suitable for very short term contracts with no expenses.

4. The Self-employed trading option is unsuitable for contractors operating via recruitment agencies.

The next section will take you through what is involved in running your own company. Compare these steps to the work required to operate within an Umbrella Company, you will see why 1st Option's Accounting solution is the smartest choice for serious contractors.

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1. New to contracting
2. Benefits
3. Trading Options
4. - Your Own Company
5. - PAYE Employee
6. - Umbrella Employee
7. - Self Employed
8. - Summary
9. Running Your Company
10. - Getting money in
11. - Expenses
12. - Payroll
13. - Bookkeeping
14. Costs
15. Next steps
16.  

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