Career change to Contracting

[nm]

Hi,

I am looking out the best way for doing contracting jobs, could any one let me know the best way of doing contracting.?

I see many option like starting own company, working for an umberla company etc, but not sure which one would be best ?

Appreciated the help from the forum members.

[AccountantMatthew]

Big question!

Ultimately is down to your preference - and what the main factors are for your choice can't really be answered by anyone else.

All I would say is to do your research up front now as becoming a director of your own company does bring legal responsibility with it and also knowing what to expect will cut down on increased costs and hassle later.

I would also say don't go straight for a company just because it may save you tax. It may be the major reason in the end but do look into other factors first. Conversely don't get blinded by all promises of high take home pay from umbrella companies - it may bring down the earnings that you can claim for any visa renewals and also do check what you really can legitimately claim (read their small print basically).

However there are positives to both of course!

Potentially do some internet research first (of course being mindful of who is writing what) and then take it from there. Good luck!