Why become an IT contractor?
With society becoming increasingly reliant on modern technology, the need for highly-skilled IT contractors has increased sharply, and this is expected to be a long-term trend.
A study by Ofcom in 2014 showed that the average Briton spends more time using media and communications devices than they do sleeping (eight hours and 41 minutes), which highlights just how often we use the latest gadgets. IT specialists are needed to maintain these and design the devices of the future, as well as ensuring all of our precious personal data is adequately protected. In short, IT professionals are worth their weight in gold.
Many permanent employees feel their earnings are somewhat restricted, which is why more people are becoming IT contractors. With demand for their services so high, IT contractors don’t have to look too far to find highly-lucrative contracts, and they can also work on their own terms, rather than having to answer to somebody else.
Why IT contractors are working with Exchequer Accountancy Services
Once you decide to go it alone, you need to be aware of your responsibilities.
When you worked as a full-time employee, your employer would have dealt with your tax and National Insurance payments on your behalf, but now you need to do this yourself. Getting to grips with VAT, tax-deductible expenses and the like can be difficult for those who have never been self-employed before.
Our experienced accountants can offer guidance, or even take care of your tax affairs on your behalf, freeing up more time for you to concentrate on landing new contracts and earning money. We understand that IT contractors are busy people, so we tailor our services to fit in with your schedule.
If this still sounds daunting operating as an umbrella employee through our sister company, Exchequer Solutions, might offer you some of the flexibility you are looking for but with many of the benefits of employment.
An all-round service
For first-timers setting up their own limited company, having access to Exchequer Accountancy Services extensive knowledge on important matters such as IR35 can be vital.
Chances are you’ve never really paid attention to legislation that governs the self-employed before, so it can be quite a culture shock when you become a contractor. We ensure that you’re maximising your take home pay, while at the same time checking that you’re legally compliant and adequately insured.
We make sure all bases are covered for our IT contractor clients.