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What are the benefits for being contractor?

Benefits for using Contractor accountant

Limited or Umbrella

How its works?

Contracting can deliver skilled knowledge workers a huge range of benefits, which makes becoming a contractor such an attractive option compared to being employed. 


Higher pay improved professional satisfaction and greater flexibility are just some of the benefits of contracting.

You are paid more per hour/day than an equivalent employee, and your tax status enables you to take home more net pay than an employee.


You choose your assignments and clients, so you can choose only to work on projects that interest you
You can typically must turn up to work between set hours five days a week, with limited time off. Contractors can choose when to work and when not to, and many have greater control over working hours and locations.


Holidays: When you are between contracts, you can choose to take as much or as little time off as you like. Plus, because you are earning more, you must work less to make the same amount of money as when you were employed


Training: You choose which skills to develop and what training you take. Most contractors find they gain much greater satisfaction, and return on financial investment, when they are in control of their own skills development
No more office politics: Contractors are independent from their clients, and unless in an interim management role, do not become line managers. 


Improved work/life balance: It is amazing how much better many people feel when they have control over their own destiny. 

LTD Company


  • Registering as a director of your own company and keeping Companies House informed of your accounts and significant changes to your company


  • Opening a separate business bank account


  • Invoicing your agency or client


  • Responding to communications from accountants, HMRC, Companies House and other organisations


  • Ensuring that all documents/tax returns are filed on time


  • Producing detailed accounts, invoicing and VAT records


  • Completing an annual self-assessment tax return


  • Paying tax due on any dividends

Umbrella Service


  • Registering as a director of your own company and keeping Companies House informed of your accounts and significant changes to your company


  • Opening a separate business bank account


  • Invoicing your agency or client


  • Responding to communications from accountants, HMRC, Companies House and other organisations


  • Ensuring that all documents/tax returns are filed on time


  • Producing detailed accounts, invoicing and VAT records


  • Completing an annual self-assessment tax return


  • Paying tax due on any dividends