Becoming a Project Management Contractor

If you are still unsure whether contracting as a Project Manager is right for you then the following links will provide you with the information you need to make an informed decision

Depending on your level of experience, on where you are based and on the state of the economy at the time you start contracting, you could expect to earn twice as much, or even more, than a permanent Project Manager would. As much as £65 per hour or more in fact - which is only fair considering the loss of holiday pay, sick pay, pensions and other employee benefits. Our take home pay calculator can show you how much more you could take home as a contractor

Money is not the only positive aspect of a decision to work on a contract basis. When the market is good, you could find yourself in a position where you can choose where, when and for how long you work - and subsequently, how much holiday you can take! And as an external contractor you are free from internal politics and can often find yourself in situations where you are learning new skills and gaining valuable experience while you work.

But with this level of freedom comes the responsibility to make sure that you do actually find and complete enough contracts to maintain your required level of income. This is quite straightforward when there are lots of projects available which suit your skill set, experience level and location - but it can be tougher in more challenging economic times, when projects are not as readily available, and the competition for the best contracts is that much higher.  For further advice on finding and securing your next contract role visit out Contractor Careers Centre.

The decision to move to contracting is often a conscious one, but sometimes it happens as the result of redundancy, where you simply don't have a choice if you want to keep the money coming in.  Either way, as soon as the decision has been made, there are a number of things that you will have to consider.  The most vital of these is the need to 'project manage' your finances yourself, as you will no longer just be paid by a payroll department somewhere within your employer's organisation!

In general terms, Project Management is defined as being 'the discipline of planning, organising and managing resources to bring about the successful completion of specific project goals and objectives'.  Sounds pretty straightforward!  But once you're doing this for your client, who is looking after the 'planning, organising and management' of your business finances?

The first step is to decide how you will operate - the two most common options being to work through an umbrella company or to set up a limited company.  There are pros and cons to each and you can find out more about this here.  

If you do choose to set up a Limited company, SJD Accountancy can give you a wealth of information and advice - as well as providing a low cost fixed-fee accountancy service which has been developed specifically for contractors. 

If you have any question about contracting or would like any further advice please call our New Client Services helpdesk on Freephone 01442 275789 or email janice@sjdaccountancy.com.

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SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, Limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 15,000 clients.

We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

  • Unlimited face to face meetings. This is a unique service only SJD Accountancy offers - unlimited face to face meetings across the UK - tax is complicated and sometimes only a meeting will do.
  • UK's Largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
  • Money back service guarantee. All your Emails received by 4pm on any normal working day will be answered the same day. Should it be necessary to leave a telephone message it will be answered same day/following day latest or we will make a full refund of that months fee.
  • Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Accountant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
  • All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, your own dedicated accountant* and all company returns for a fixed fee starting from £120 plus VAT per month. Check our packages for more detail.

If you have any questions about contracting or would like any further advice please call our new client services helpdesk on 01442 275789 or email: janice@sjdaccountancy.com. Our new client services helpdesk is open Monday to Friday (8am to 6pm).

Appoint SJD Accountancy and never worry about your tax or accountancy affairs again.

Form your own Limited company with SJD - our same day online company formation service includes company bank account set up, VAT/PAYE registration and advice on optimum share structure. 

You may also find the following pages, guides and case studies useful:

*If you would like us to complete your company year end accounts we simply ask that you have been a client of SJD for one year or have made 12 monthly payments. All accountants are part or fully qualified.