Permanent to Contracting using an Umbrella Company
Although permanent work has the security of a regular income and employment benefits, contracting is where the real money lies. Mitch tells us about his decision to leave behind the familiar world of permanent work and make the jump into the world of contracting...
Mitch had always been in permanent employment until a few of his old colleagues left permie work to go into contracting and tried to convince him to do the same.
They told him about the better rates, more flexibility and, if he got a really good contract then he could take time off in between if he wanted to as well.
Another benefit was that he could broaden his experience too. If he wanted to go back to permie work he'd have more skills to take with him and, if he stayed contracting he could command better rates. Mitch kept thinking about it and finally took the plunge.
Read all about one contractors experiences of leaving behind the world of permanent work and making the jump into contracting using an umbrella company.
If you are thinking of contracting through your own limited company visit SJD's limited company case study pages to read 4 more case studies and our new pages: Take home pay Limited company or Umbrella company - The Real Story and how much can I earn as a contractor?
Click on the links below to read our other umbrella guides:
SJD Accountancy provides Umbrella Company Services to contractors and freelancers through it's sister company ContractorUmbrella.
ContractorUmbrella Ltd
ContractorUmbrella is part of the SJD Accountancy group and was formed in 2002 to provide employment services to UK based contractors who do not wish to operate through their own Limited company.
They are also the first umbrella company to be fully compliant with all Managed Service Company (MSC) and debt transfer legislation, as reviewed by KPMG. This is important as many other umbrella companies claim to be HMRC compliant - but can they prove it? ContractorUmbrella can, read KPMG's review.
ContractorUmbrella is an alliance partner of Contractor UK, Contractor Money, FreelanceUK and is an associate member of the Professional Contractors Group.
They offer:
- Low weekly/monthly fixed fees
- NO entry or exit fees
- Money backed service guarantees
- No voice mail or automated call handling - all calls are answered by real people and within three rings.
Unlike other Employment Service Companies and Umbrella Companies they will not take a percentage of your income, their weekly or monthly fees remain the same regardless of your earnings. For the duration of each contract you will be guaranteed a payment from them regardless of whether they have received funds from your agency/client - this is a unique service within our industry.
If you choose to use ContractorUmbrella, but then wish to convert to a Limited Company at any time ContractorUmbrella will arrange this for you quickly and easily.
If you have any questions about ContractorUmbrella or using an umbrella companies please call 01206 713680, e-mail info@contractorumbrella.com or visit www.contractorumbrella.com.
SJD Accountancy
SJD Accountancy is the UK's largest specialist provider of fixed fee, limited company accountancy services to contractors and freelancers. SJD have been acting for contractors across the UK since 1992, have more than 10,000 clients; are the only National specialist firm of accountants with offices in all major cities; are the most recommended accountancy firm on the internet and have more qualified staff than any other specialist firm with qualifications from the following major Tax and Accountancy bodies - ATII, ATT, ACCA, CA, ACA, FCCA, ACMA.
SJD have also won every relevant award possible, including: the Accountancy Age Award for Excellence in 2007 and 2004, Contractor uk 'Best Contractor Accountant' for the last three years, Sunday Times 'Best company to work for'; are a Quality Accountant as recommended by the Professional Contractors Group (PCG) and are recommended by the Sunday Times.
If you have any questions about contracting through your own limited company or would like any further advice please call our New Client Services Team on 0500 152 500 / 01442 232700 or e-mail jaime.thorpe@sjdaccountancy.com
