Contracting at Barclays

As one of Britain’s best known multinational banks, Barclays has a headquarters in London, but a reputation which has spread throughout the world. As the seventh largest bank worldwide, based on assets, and with 48 million customers, Barclays provides a wide range of services including investments, retail and wholesale banking, mortgages, credit cards and wealth management.

With over 140,000 employees worldwide and 34,000 of those in the UK, there are a range of positions available within the organisation. Many people will be aware of the retail arm of the business, with branches of Barclays featuring on most high streets, but there are a host of other roles within the business for which they often recruit contractors.

These include some of the disciplines that most businesses incorporate such as human resources and marketing, but also those with more specialised skills such as digital banking experts, risk assessment and central finance professionals who play a vital role in the bank’s success. Whilst many of the jobs available are based in their London offices in Canary Wharf, there are branches all over the country offering the potential for roles throughout the country.

Barclays has a section dedicated to recruitment on its website, with useful information for potential candidates and plenty of detailed information about the different locations and their working environments. They also have a list of their core values, which include Excellence, Integrity, Respect, Service and Stewardship and a quiz which will give you some idea of how you could fit in with their working culture.

There are detailed, step-by-step guides on the application process, including information on how their online site works including details of what you will need to submit to apply for a role. There is advice about the assessment process that they use and details of the way that they interview candidates including what they look for, how you can prepare for them and what you will need to bring with you. They also list the checks that they will make if your interview is successful, so you can ensure that you have all the relevant documentation available.

Whether you have experience of working in financial services or want to use your skills to move into the industry, there are a number of options available. You can go direct to institutions through their own recruitment sites, or you can go via agencies who may already have existing relationships with some of the biggest banks to give you a broader selection of roles to choose from. Whether you enlist with a large agency such as Hays or Reed, a specialist such as CityJobs or decide to apply direct, making sure you have done your research will increase your chances of success.

You may also find our Contractor Career section useful for top tips and advice on; writing a killer CV, interview strategies, negotiating rates and contractor case studies - with real life experiences details from though who have actually made the switch from permenant to contracting. 

Uncertain if making the move from Permenant to Contracting is for you?

For some, making the move from permanent to contracting can be a little overwhelming as there are a number of things to consider. However, in SJD's 2013 client contractor attitude survey, which received over 1,000 responses, over 80% of those surveyed found being a contractor more satisfying than as a permenant employee - for more information, click here to read our full report. 

Of couse, with most things, there are both pro's and con's, and the same is the case with contracting. However, the number one reason so many people are drawn to contracting is the potential to increase their earnings. A contractor can often earn twice the amount of a permanent employee in the same position.

As companies are not required to pay for holiday, sick pay, pension contributions or any employee benefits, contractors are able to command higher rates of take home pay and with coveted skill sets, many short term roles can often be extended with rates negotiated even further. For more information on how much you could earn as a contractor, why not try our Contractor Calculator.

As a contractor you’ll incur additional costs, such as travel expenses and accommodation if you are working away from your usual work base. Unlike permenant workers, as a contractor these costs can be claimed as expenses against your tax as long as they are “wholly and exclusively for the purpose of your business” which can rduce your tax bill. Our comprehensive contractors guide to expenses provides more information about expenses and what you could claim as a contractor. 

Another reason why contracting can be particularly appealing is that it provides people with the flexibility and ability to control their career and be their own boss. As you’ll be working with clients rather than for an employer, you are in charge of when you take holiday, how often you work - so whichever role appeals to you - and what courses you attend.

Being a contractor is an extremely rewarding way of working, but being your own boss does mean being in charge of your own finances and this is the part that most people soemtimes worry about.

Unfortunately tax is complicated, and when working as a contractor you are bound to have questions relating to how to properly manage your finances and how to work in the most tax efficient way possible so you are paying the right amount of tax. Keeping on top of National Insurance payments and calculating how much tax you need to pay can be quite time consuming, and this is where a qualified accountant can be invaluable.

At SJD, we have more qualified staff than any other firm in our market. All clients will be allocated their own dedicated accountant who they will be able to call, email and meet as often as they like in any of our offices and meeting locations across the UK. 

Our all-inclusive fixed fee accountancy package that covers all of your business and personal taxation needs starting from £120 plus VAT per month. This includes:

  • Year-end accounts*
  • Corporation tax
  • Payroll bureau
  • Dividend administration
  • Dealing with HM Revenue and Customs and Companies House
  • Quarterly VAT Calculations
  • Support with Annual Returns
  • Personal Taxation
  • Access to your own dedicated accountant*
  • Free bookkeeping software

Check our packages for more detail.

If you would like to speak to someone for further advice, please do not hesitate to contact a member of our New Client Services team. Either freephone 0500 152500 / 01442 275789 or email nikki.hanlon@sjdaccountancy.com

For all other company guides visit our Becoming a Contractor - Company Guides page here. 

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 telephone calls and emails will be answered the same day 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.