Taking the jump...

[Unbelievable Jeff]

Afternoon all. So, I have decided to take the jump and go into contracting/consulting. I have already negotiated my first 6 month contract, and the plan is to now hand in my notice at my current job, set up a limited company and get myself into it. I will be set up as VAT registered.

 

I was wondering if anyone who already does this has any advice on this, the pro's and con's and whether there is anything I need to keep in mind when doing this.

[bridge too far]

Good luck! Let us know how it goes - Mr TF has just been made redundant and setting up on his own is one option he's considering so I'd be interested to know how you find things.

 

What's your particular skill / specialty?

 

All the best

[Unbelievable Jeff]

Good luck! Let us know how it goes - Mr TF has just been made redundant and setting up on his own is one option he's considering so I'd be interested to know how you find things.

 

What's your particular skill / specialty?

 

All the best

 

Cheers BTF, I'm a management accountant by trade, although I actually have a few specialties that I can go into (Financial Analyst, Project Manager, Finance Manager) so I will hopefully be well set.

[benjii]

Try not to be a self-important buffoon who adds little value and gets in the way of real professionals doing their job.

 

I don't know you at all but that is my tip.

[Unbelievable Jeff]

Try not to be a self-important buffoon who adds little value and gets in the way of real professionals doing their job.

 

I don't know you at all but that is my tip.

 

One of the advantages of doing this is that I will no longer have to play the political game and I just have to do the job I am being asked. Hopefully this will take away a lot.of the pressure compared to my current role.

[Bearsy]

Try not to be a self-important buffoon who adds little value and gets in the way of real professionals doing their job.

 

I don't know you at all but that is my tip.

 

lol truth

[St Chalet]

The best info can be found on http://www.contractoruk.com forum.

 

There are lots of good service providers who can do all your Ltd Company stuff.

 

PM 'Sold to the man at the bar' who runs just such a company and has the added advantage of being a Saints fan.

[Saint in Paradise]

Wasn't the Doctor Who poster on here going to do similar a few months ago?

I wonder how he got on ?

[TwoPints]

I used to be a contractor for a while. The best tip I could probably give you, certainly in the early days is make sure you get a good accountant, preferably one that is recommended by other contractors. My accountant was s **** and it was several months before he decided to tell me that I should be paying dividends to myself rather than a salary. There's a certain amount that you should take a s dividends to maximise the tax benefits.

 

Apart from that work hard and good luck.