New Contractor Advice

New Contractor Advice The best source of new contractor advice is here. New contractors need to know their worth on the contractor marketplace or they will get ripped off by agencies. New contractos need to know if they are caught by IR35 or they are outside it. This decision will make or cost them around £10,000 a year so they have to get it right. Contractor Umbrella Company If they are caught by IR35 they need to operate through a contractor umbrella company. If they are outside IR35 they can operate through a personal service company, which is a limited company for one man bands like contractors. The personal service company option is the best one for contractors as they can save most tax this way. Even if they are caught by IR35 there is a third alternative. They can get themselves outside IR35 by changing their contract and their way of working. [caption id="attachment_914" align="alignnone" width="241"] New Contractor Advice for start up contractors[/caption] For more advice on starting out contracting click on New Contractors