[kənˈtræktə]
A Contractor is an individual hired by a company to complete a specialised task. They have more flexibility than employees but miss out on other benefits.
A Contractor is a professional who provides their specialised skills to a company that employs them. Contractors are common in the construction, engineering or consulting industry.
Contractors are usually Self-employed. This means they are not entitled to some Employee benefits such as holiday pay or sick pay. However, contractors have more flexibility on who they want to work with and when.
Self-employed contractors will need to file a Self Assessment to deal with their tax. Some contractors are employed by an Umbrella Company who will deal with your taxes through PAYE.
IR35 regulations were introduced in order to stop employers and Employees abusing the contractor system.
There are loads of different tax laws in the United Kingdom. IR35 is very important to freelancers and contractors but can be a little confusing. Here, we explain simply what IR35 is and who it can affect.
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Self-employed individuals can use two different methods to expense business vehicle costs. Here, we investigate the positive and negatives for both methods and which one might be right for you.
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