There will be many people who would like to move into the world of contracting but are not sure of whether this type of lifestyle will suit them.
With most things in life there are of course positives and negatives, and the same goes for contracting, as it will not suit everyone’s lifestyle.
The main positive is that contractors can potentially earn more than their permanent counterparts. For example, an average contractor rate can easily be double that of a permanent employee and you are able to claim back on business expenses, which remain tax free, meaning that you will only need to pay tax on your profits.
Of course there’s also the added flexibility and control that comes hand in hand with being your own boss.
If you decide to start contracting you will also need to take into consideration how you will be trading; whether this is through a Limited company or an umbrella company, there are pros and cons to both.
To read this article in full, visit: Contractor or Permanent Employee?
Limited Company Guide for Management Consultants
If you’ve recently become a management consultant or need helpful tips and advice on how to find work or whether to trade as a Limited company umbrella company contractor, you may be interested in this article.
Becoming a contractor is full of many advantages compared to working as a permanent employee, however, working for yourself means that you will need to actively seek out your own contracts.
This can seem daunting, but there are many avenues that you can go down to help you find work in your field. Contacts that you might have in the industry could be a good starting point, as well as specialist websites and jobsites.
To read this article in full, visit: Limited Company Guide for Management Consultants