We set up our contracting desk back in 2008, in response to a growing shift towards flexible work options in the gaming, toys and licensing industries. We place clients with a number of small and big names in industry alike, including Microsoft, Electronic Arts and Sony.
These days, employers are looking for the ability to scale their workforce up or down in response to changing needs. The solution for many has been to keep a core of permanent staff supplemented at key times by contractors.
Plus, more and more of our candidates are looking for the freedom and flexibility offered by contracting and self-employment.
Contract length can differ depending on the job. A client may be looking for three months for a fixed term project, or maybe a 12 month contract to cover maternity leave - although shorter or longer durations can be catered for. Contractors can either work in-house or remotely depending on the employer’s requirements.
The vast majority of contractors and freelancers work through their own limited companies, or use the services of umbrella companies. Which is best for you depends on a number of factors.
The most tax efficient tax structure to use is a limited company. By drawing a low salary and taking the majority of your income in the form of dividends, you'll minimise your exposure to income tax and national insurance contributions.
Limited company contractors have control over their finances, but they do have a number of financial and statutory obligations to comply with. Most of these administrative duties can easily be taken care of by a specialist accountant, however the responsibility for ensuring the correct forms and accounts are submitted to the authorities correctly, and on time, rests with the contractor.
For contractors who are on short-term contracts, or those who don't want any of the perceived "hassle" associated with running a limited company, an umbrella company is an attractive option.
Umbrella company contractors can get up and running with a scheme almost immediately. The umbrella company takes care of all your paperwork, and will pay you on an agreed payment cycle, your salary and expenses, minus deductions for PAYE (income tax), national insurance contributions, and the scheme fee.
Whether you're a contractor already and are looking for help finding your next assignment, or want to find out more about the practicalities of contracting for the first time please get in touch on 01709 876 877 for more information.
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