New to contracting? Nixon Williams’s first timer’s hub is full of helpful guides written in simple plain English which aim to make your move to contracting a simple as possible.

One of the most common questions we are asked by people considering moving to contracting is; what are the benefits of making the move to contracting?

Many have made the move to contracting for one simple reason – the higher daily rates, but others have made the decision for a better work life balance. These are just a few of the many reasons why a move to contracting could be the right decision of you. To find out more, please read our benefits of contracting page.

So now you have decided to become a contractor, here are few simple guides to help you start your contracting journey:

Limited or Umbrella?

There are different ways in which to operate as a contractor however, dependant upon your circumstances, many contractors choose to contract through their own limited company; this could be the most tax efficient way to operate, if your turnover will be more than £25,000 a year and your contract is longer than three months.

For more information on setting up your limited company, please take a look at our forming a limited company page or if you’d like to speak one of new business team, please call us on 01253 362062 or email newbusiness@nixonwilliams.com.

Starting out in contracting

Expenses for Contractors

When operating through your own limited company you will naturally occur business expenses, however these expenses can be claimed back if the costs are wholly and exclusively used for business purposes. In short this means that you will receive tax relief on these costs and could reduce your tax bill in the long term.

If you are unsure of what business expenses you can claim back, and would like to speak to Nixon Williams please call us on 01253 362062, or alternatively you can visit our guide to expenses for contractors for more information.

Increased Take Home Pay

As a contractor you can expect your overall earnings to be higher than a permanent job, which is one of the many benefits of contracting, however you may be wondering how much you can earn as a contractor?

To find out an illustration of what you could earn, take a look at our take home pay calculator.

How can Nixon Williams Help?

Nixon William’s has over 20 years’ experience as a specialist contractor accountancy firm, and offers a full accountancy service for £95 +VAT per month which includes, an online accounting portal, your own dedicated accountant plus all ongoing advice and support.

To get in touch today about making the move to contracting please call us on 01253 362062 or email, newbusiness@nixonwilliams.com. Alternatively you can complete our limited company application form to get the process started.