Finances

[vc_row][vc_column width=”1/1″][vc_column_text]Whether you’re new to the contracting world or have been working in it for a number of years you will no doubt be aware that contracting brings significant financial rewards and numerous different ways of organizing your earnings and then investing them. But as with all other areas of going into business on your own, you are now responsible for managing your own earnings from how you pay yourself through to where you invest the money you have earned.

In permanent employment, a lower, salaried income is enhanced by additional benefits such as sick pay, company pension scheme, medical and life insurance. These benefits are largely taken for granted but provide vital protection from hardship that disappears the day that you start contracting.
Depending on your circumstances, you will need to replace some or all of this safety net and must now find the costs personally. You will have the means to do so thanks to your newly enhanced income and much of this package can also be provided very tax efficiently through your limited company. Additionally you must make the most of your decision to contract and it is important that your money is set to work as efficiently as possible. Company and personal tax breaks must maximised so that the Inland Revenue doesn’t end up the real beneficiary of all your hard work! This can be achieved by careful structuring of your finances and tax efficient investment of surplus income.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][vc_separator color=”grey”][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”5900″ css_animation=”top-to-bottom” alignment=”center” style=”vc_box_outline” border_color=”grey” img_link_target=”_self” img_size=”250×150″][/vc_column][vc_column width=”1/2″][vc_column_text]Contractor Pension Guide
Pensions represent one of the best and most reliable tax breaks left to contractors to take advantage of. As a contractor it is essential that you maximize the potential of this tax break as soon as possible. Once you set up a contractor pension you can pay money straight into it from your company’s bank account, bypassing both income tax and employees and employers national insurance contributions.
Read the guide[/vc_column_text][/vc_column][vc_column width=”1/4″][vc_button2 title=”Contractor Pension Guide ” style=”square_outlined” color=”turquoise” size=”lg” link=”url:http%3A%2F%2Fcontractorguides.co.uk%2Fcontractor-pension%2F|title:Contractor%20Pensions%20%E2%80%93%20Save%20for%20the%20Future%20%26%20Reduce%20your%20Tax|”][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”5901″ css_animation=”top-to-bottom” alignment=”center” style=”vc_box_outline” border_color=”grey” img_link_target=”_self” img_size=”250×150″][/vc_column][vc_column width=”1/2″][vc_column_text]Contractor Pensions and IR35 
I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Read the tips[/vc_column_text][/vc_column][vc_column width=”1/4″][vc_button2 title=”Pensions & IR35″ style=”square_outlined” color=”turquoise” size=”lg” link=”url:http%3A%2F%2Fcontractorguides.co.uk%2Ffinances%2Fpension-ir35%2F|title:How%20can%20Contractor%20Pension%20help%20IR35|”][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”5902″ css_animation=”top-to-bottom” alignment=”center” style=”vc_box_outline” border_color=”grey” img_link_target=”_self” img_size=”250×150″][/vc_column][vc_column width=”1/2″][vc_column_text]Opening a Bank account in the UK
I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Read the Guide[/vc_column_text][/vc_column][vc_column width=”1/4″][vc_button2 title=”UK Bank Accounts ” style=”square_outlined” color=”turquoise” size=”lg” link=”url:http%3A%2F%2Fcontractorguides.co.uk%2Ffinances%2Fopening-bank-accounts%2F|title:Opening%20a%20bank%20account%20in%20the%20UK|”][/vc_column][/vc_row]