Contracting in Banking and Financial Services

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You could be working at UBS, HSBC, Deutsche Bank, RBS, BNP Paribas, AXA, Barclays, Aviva, Clifford Chance or one of a hundred different banks, insurers, law firms or financial organisations. But one thing is for sure, there have been lots of changes in the industry recently and the terms 'permanent job' or 'job for life' are fast becoming a thing of the past!

It's no wonder that the fastest growing sector at the moment is the contractor market. Many if not all financial companies have laid-off hundreds or even thousands of workers and are now finding there just aren't enough people around to get the existing projects completed, never mind to start new ones. Which means that the opportunity for contractors and freelancers in the Banking and Financial Services sector is now more appealing than ever before.

The fact that contractors, consultants and freelancers can command much higher daily rates of pay is also an influencing factor - but this is only to be expected, bearing in mind the lack of holiday and sick pay, and the other additional benefits which are lost when moving from employment to contract work.

More and more people are choosing to operate through their own limited companies, partly due to changes in corporate working practices but also because of the freedom, control and enjoyment that comes from being your own boss. So if you are thinking about going contracting, or if you are already a contractor and using an umbrella company, why not give us a call? We'll explain everything you need to know about working through your own limited company - which by the way, as any accountant will tell you, is the most tax efficient way possible!

For further advice please call our New business team on 01442 275789 or email

One key question which we're sure is on your mind is 'How much will I take home after tax as a contractor?'. If it is, please try our instant online take home pay calculator.

If you do choose to set up a limited company, which is exactly what our other 15,000 contractor and freelancer clients have done, you may like to chose SJD to help form your company. Last year alone, more than 3,000 contractors formed their limited company on our website.

If you wish to appoint us as your accountants immediately, the quickest and easiest way to do so is by accessing our Client Agreement Form   

If you are undecided about whether to go limited or use an umbrella company  please click here: Take home pay through a limited or umbrella company – The differences. 

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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.
  • Our Customer Promise. Respond to any question sent to your accountant or any dedicated department within 24 hours.  If we need more time, we will update you as soon as we can and we promise to keep you informed of the progress we are making in answering your question.
  • 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 business team on 01442 275789 or email: Our new business team is open Monday to Thursday (8am to 8pm), Friday (8am to 7pm) and Saturday (10am to 4pm)

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. 

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*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.