First Time Contractors

http://www.contractoruk.com/first_timers/index.html

http://www.contractoruk.com/guides/wary_consultancy_contract.html

Terms you need to learn about:

Limited Company

Umbrella Company

Your Invoicing Company

• http://www.contractorcalculator.co.uk/what_is_a_personal_service_company.aspx

Personal Service Company

HMRC

Accountant

• http://www.contractoruk.com/first_timers/do_i_need_accountant.html

Your Timesheets:

• http://www.contractoruk.com/first_timers/timesheets_invoices.html
• Often done online

Your Expenses

Finance Director

• As a Contractor you are your own Finance Director and you have responsibilitie

Contract

• The contract is what you sign between yourself and the client or agency
• With regard to IR35, your contract must reflect the specific terms of engagement
• http://www.contractoruk.com/guides/wary_consultancy_contract.html

IR35

• Is a law to caught Contractors whose work conditions make them to be considered as an Employee (Pays more tax) as far as law is concerned

Review Your Contract Before HMRC Do