PCG Guide to Contracting

Section 1. Starting Out

• SETTING UP A LIMITED COMPANY
  
• Why do I need a Limited Company?
  
• How do I set up a Limited Company?
  
• What are the legal requirements for Limited Companies?
  
• What does a Director do?
  
• What can a limited company do?
  
  
• CHOOSING AN ACCOUNTANT
  
• Why do I need an accountant?
  
• How do I find an accountant?
  
• Can't I do it myself?
  
• How much do accountants cost?
  
  
• CHOOSING A BANK
  
• Why do I need a separate business bank account?
  
• Should I just use my local bank's business account?
  
• What sort of account do I need?
  
  
• ALL ABOUT AGENTS
  
• Why do I need an agent?
  
• How do I choose an agent?

Section 2. Running a Contracting Company

• How do I find a contract?
  
• How do I make sure I get the right contract at the right rate?
  
• Does it matter how much commission the agent gets if I'm happy with my rate?
  
• How do I avoid using agents?
  
• Can I rely on agents to represent my business?
  
  
• UMBRELLA COMPANIES
  
• My accountant/agent suggests I should work through an umbrella company.
  
• What's the catch?
  
• Will an umbrella company protect me from IR35?
  
• Will an offshore company protect me from IR35?
  
  
• GETTING PAID
  
• Do I need to pay myself the minimum wage?
  
• How should I pay myself?
  
• How should I pay myself if I am caught by IR35?
  
• What are the payroll requirements of running a limited company?
  
• Do I need any kind of insurance?
  
  TAX
  
• What kind of tax will I have to pay as a Limited Company?
  
• Can I pay less tax as a contractor?
  
• As a contractor, will I still have to complete a Self Assessment tax form?
  
• What happens if I forget to send in a tax form?
  
• How do dividends work?
  
• How do I declare a dividend?
  
• Why can't I pay myself monthly?
  
  PLANNING YOUR WORK
  
• What about holidays?
  
• What's a "buffer"?
  
• I can't afford to save
  
• Can I get private medical insurance?
  
  PENSIONS
  
• How should I plan for my retirement?
  
• Should I have a company car?
  

Section 3. Life as a contractor

• RATES
  
• How much should I be getting?
  
• Where can I find out the going rate for my skills?
  
• What is a "typical" contractor rate?
  
• As a permanent employee, I receive a salary of £35,000. How much should I charge as a contractor?
  
  TRAINING
  
• Who pays for my training?
  
• Why should I bother paying for training?
  
• Can I get any help with the cost of training?
  
• Where can I find training?
  
  CONTRACTS
  
• What should I look out for in a contract?
  
• How do I invoice the agent/client?
  
  MARKETING YOURSELF
  
• How can I sell my company's services direct to clients?
  
• How do I get in contact with direct clients?
  
  MANAGING PROBLEMS
  
• My agent/client still hasn't paid me.
  
• My client/agent is disputing the contract and refusing to pay.
  
• I have no work lined up when my current contract ends.
          
  

Section 4. Moving On

• GOING DIRECT
  
• I'd like to go direct to clients; is there anything I need to bear in mind?
  
• How much should I charge?
  
• What about getting paid?
  
  EMPLOYEES AND OTHER SUPPLIERS
  
• I need to take on extra staff to help me with the work.
          
  

Section 5. IR35

• WHAT IS IR35?
  
• Background
  
• The legislation
  
• The problems
  
• The PCG campaign
  
  IR35 AND CONTRACTING
  
• What will IR35 mean for me?
  
• What does IR35 mean for my clients?
  
• What does IR35 mean for my agent?
  
• Does IR35 apply to me?
  
• How can I find out if I am caught by IR35?
  
• What will the Inland Revenue do?
  
• How will the Inland Revenue catch me?
  
• What can I do to avoid this uncertainty?
  
• Should I pay more into my pension?
  
  LIVING WITH IR35
  
• Can I work outside of IR35?
  
• Going abroad
  
• How can I help campaign against IR35?