Contract Eye - Information for IT Contractors

Guides to starting up and working as an IT contractor in the UK - from working via an umbrella or limited company, to dealing with accountants, IR35, taxes, regulations, recruitment agents and clients.

For information on IR35, and the consequences if you fall within its scope, click here.

If you're looking to sign up with an accountant or umbrella company, try our directory for some of the leading providers.

Please get in touch with the team if you want to share any contracting stories with us, or make any comments about the site / content.

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?

Closing down a limited company – your options

We look at the different options you will face when shutting down your contracting business - keeping the company 'ticking along', applying for a voluntary strike off, or undertaking a members voluntary liquidation.

In what sense is your liability limited if you run a company?

One of the main attractions of working via your own company is that the liability of shareholders is limited. So, to what extent is the liability of company directors limited?

Give your contracting business a professional image

Many contractors would benefit from creating a professional image for themselves and their companies; to help stand out from the crowd, and impress potential clients.

Corporation tax – guide for contractors

An overview of Corporation Tax and how it applies to limited company contractors.

How do you know if an accountant is ‘qualified’?

Before you appoint a specialist accountancy firm to look after your contracting books, ensure that you check what qualifications the firm holds.

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.

Tax basics for limited company contractors

A concise guide to the taxes you will encounter as a limited company contractor - Corporation Tax, VAT, National Insurance, Income and Dividend Tax.

What is entrepreneurs’ relief? Guide for company owners

If you sell all or part of your business, or its assets after trading as ceased, you may be able to claim entrepreneurs' relief on the proceeds and pay 10% instead of the standard CGT rate.

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.