​Everything You Need to Know about Working as a Contractor in the UK.

​

"What do I need to consider before becoming a contractor?"

- Market conditions and demand

The market is ever-changing. Just like with a permanent job search, there are peaks and troughs in the market. At times, there’s a large demand for certain skills on a contract basis whereas at others, companies may prefer to hire permanent employees or they may have hiring freezes altogether. We’d advise doing some thorough research before making the decision to go into contracting to understand the demand for your skills and the likelihood of securing a contract position.

- Financial security and ‘void times’

Although contracting can be very fruitful and an excellent way of life, it does bring an element of risk. Some contractors may find themselves between contracts for many months at a time, so it’s worth considering this and making sure you have a ‘financial buffer’ in case you find yourself out of a role for a prolonged period of time.

- IR35

The IR35 reform of April 2021 has had a significant impact on the UK contracting market. This legislation determines whether a contractor is operating as a true contractor or ‘disguised employee’ which results in a big difference in that contractors take home pay.

Read more about IR35 here, or get in contact with one of our