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Best advice from Parasol Group
Over 47,000 satisfied contractors. Umbrella or Ltd? We can help. Call 0800 458 0818. |
For Contractors, Freelancers & Consultants...
Guides to starting up and working as a contractor in the UK; from working via an umbrella or contractor limited company, to dealing with accountants, taxes, regulations, contractor insurance, recruitment agents and end clients.
Want to become a contractor in 2012? - Read our start-up guides first.
IR35 - The IR35 rules remain in place (but will undergo an administrative overhaul). Read the latest news in our IR35 channel.
Directories - Leading umbrella companies and contractor accountants.
What is PI Insurance? - Our guide to contractor professional indemnity insurance explains why many clients/agencies require you to be covered.
Latest Updates
If I want to close down my limited company, can I extract any remaining profits tax efficiently?
If you are considering closing down the company you have used for contracting, we look at how any remaining profits can be extracted in a tax efficient way.
(Jan 27, 2012 in Contractor FAQs )
Compliance and security key to ongoing success of Parasol
Parasol Group has announced strong results over the past year, and says the firm's commitment to compliance is a key factor in its ongoing success.
(Jan 25, 2012 in News )
Temporary workplace expense schemes under scrutiny after HMRC wins major tax case against Reed
A landmark tax tribunal case has found a leading employment agency to be liable for substantial back taxes, after 500,000 temps were reimbursed for expenses, which should have been paid as salary.
(Jan 24, 2012 in News )
IT contractor North/South divide continues to grow
The latest quarterly survey of IT jobs posted on recruitment websites shows that although the demand for IT contractors continues to grow nationwide, a larger proportion of roles than ever are based in the South.
(Jan 22, 2012 in Market Reports )
Self employed numbers reach record high, but FCSA calls on Government to support flexible working
The latest UK employment figures show that although the unemployment rate now stands at 8.4%, the number of 'self employed' has reached a new high of 4.2m.
(Jan 18, 2012 in News )
Clients urged to take more care preparing specs, as most IT projects deemed 'unsuccessful'
A software firm has urged the UK's businesses to take more care when providing specs for IT work, to avoid going over budget, or even having to shelve projects entirely.
(Jan 18, 2012 in News )
Time running out to register for self assessment online
HMRC has reminded taxpayers new to self assessment that they only have a few days left to register for online submission.
(Jan 17, 2012 in News )
How to deal with late payment problems
Here are some proactive steps you can take to maximise the chances of getting your invoices paid on time.
(Jan 16, 2012 in Money / Investing )
Leading outsourcing site reports rapid growth in demand for IT freelancers
Statistics released by the world's leading outsourcing site, show that the demand for IT freelancers is growing strongly.
(Jan 13, 2012 in News )
One third of businesses may lay off contractors early due to AWR
A survey of recruiters suggests that almost 30% of organisations may terminate contract and temp roles prematurely, as a result of the Agency Workers Regulations.
(Jan 12, 2012 in Agency Workers Regulations )
The importance of networking for career IT contractors
With dozens of applicants applying for many IT contract roles, networking has never been more important for career contractors.
(Jan 11, 2012 in Contract Work )
Contractor Professional Indemnity Insurance - things to consider
Some factors to consider before taking out a professional indemnity insurance policy. What is covered?, is it mandatory?, and how retroactive and run-off cover works.
(Jan 10, 2012 in Contractor Insurance )
Why should contractors choose a specialist accountant?
Given that all qualified accountants should be able to keep the books of your average limited company contractor, why do most contractors hire specialist accountancy firms?
(Jan 9, 2012 in Contractor Accountants )
IT contractors - what is a limited company?
Most IT contractors work via a limited liability company. So what is a limited company, what are your responsibilities as a director?
(Jan 6, 2012 in Limited Company )
Contractor income protection (PHI) guide
Contractor income protection insurance can provide a tax free monthly income to protect you if you are unable to work due to illness or injury. What to look out for when choosing a policy.
(Jan 5, 2012 in Contractor Insurance )
How to give your contracting CV a makeover
How to put together an impressive contractor CV, and why you should take time to tailor your CV to each role you apply for.
(Jan 4, 2012 in Contract Work )
Start-Up Guide :: How to become an IT contractor
Once you have decided that IT contracting is something that you would like to do, there are a number of stages you will need to negotiate before starting work on your first contract.
(Jan 3, 2012 in Start-Up Guides )
2011 - a busy year for the contracting industry
2011 has not been lacking in excitement, with the birth of the AWR, ongoing economic uncertainty, and confirmation that IR35 is here to stay.
(Dec 23, 2011 in News )
Forming a limited company - which documents do you need to complete?
Contractors thinking of going into business for the first time may be daunted by the thought of forming a limited company. However, in reality, the company formation process is not complex.
(Dec 22, 2011 in Limited Company )
mCommerce IT contractors command high rates
A new report shows that contractors working in mobile commerce roles, building tools for smartphones and tablet computers, are likely to be paid at least 20% more than contractors in more general e-commerce positions.
(Dec 20, 2011 in Market Reports )
Contractors should be aware of changes to (ESC) C16 rules from March 2012
HMRC has announced that changes are to be made to the tax treatment of shareholder distributions when a limited company is wound up.
(Dec 19, 2011 in Tax )
AWR having minimal impact on IT contractor market
A recruitment body says that the recently implemented Agency Workers Regulations (AWR) appear to be having a limited impact on the professional contract market.
(Dec 18, 2011 in Agency Workers Regulations )
Contractor mortgages - steps to buying a new property
For contractors thinking of buying a new property, there are a number of typical stages you can expect to pass through from securing a mortgage offer, to completing on your new home.
(Dec 15, 2011 in Money / Investing )
Tax Tribunal hearing deems contractor to be part-caught by IR35
John Spencer, a retired IT specialist, experienced mixed emotions at a recent First Tier Tax Tribunal hearing, where a long-term engagement was deemed to be only partially subject to the IR35 rules.
(Dec 14, 2011 in IR35 )
Demand for digital IT contractors remains very high
The latest JM Digital quarterly market report shows that the demand for digital IT contractor skills remains very high, with the financial sector keener than ever to recruit the finest talent.
(Dec 13, 2011 in Market Reports )
How much should limited company contractors set aside for income tax?
If you are a limited company director, how much money should you put aside to settle your personal tax bill each year?
(Dec 12, 2011 in Tax )
Common sense self assessment tips for contractors
Some useful personal tax return tips for contractors to ensure you complete your self assessment form accurately and on time.
(Dec 8, 2011 in Tax )
Demand for IT staff rises, but overall employment figures grim
The latest monthly Report on Jobs shows that the demand of permanent IT staff is rising in an otherwise declining jobs market. The demand for contract continued to rise in November, but at a much lower pace than in previous months.
(Dec 7, 2011 in Market Reports )
Can you reclaim the cost of home broadband from your limited company?
In the latest of our series on limited company expenses, we look at tax treatment of broadband installed at home.
(Dec 6, 2011 in Tax )
Choosing an IT contractor bank account
If you're starting out as a limited company contractor, here are some tips for choosing the best business bank account for your company.
(Dec 6, 2011 in Money / Investing )
Christmas party expenses guidelines for contractors
Although most contractors work as one or two-man limited companies, with no other employees, you are allowed to claim back the costs of an annual party for your staff, as long as you follow the HMRC guidelines carefully.
(Dec 5, 2011 in Tax )
Dan Pink describes an intensification of freelance working in the UK
In the headline freelance webinar for National Freelancers Day 2011, he describes the intensification of freelance working in both the UK and the US, and explores the changing relationship between individuals and organisations.
(Dec 2, 2011 in News )
Contractors could benefit from infrastructure boost in gloomy Autumn Statement
The Chancellor's Autumn Statement will probably go down in history as one of the most depressing public finance statements ever made, although some of the measures may have a positive knock-on effect for contractors in the coming years.
(Nov 30, 2011 in News )
How can salary sacrifice arrangements reduce your tax bill?
Both umbrella and limited company contractors can benefit from significant tax breaks on pension investments. Our guide to salary sacrifice arrangements for contractors.
(Nov 29, 2011 in Money / Investing )
Can I buy health insurance or gym membership via my limited company
What are the tax implications of paying for health insurance or gym membership via your limited company?
(Nov 28, 2011 in Tax )
