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Benefits of contracting

Contracting is a great way to create a tailor-made career. You are essentially your own boss therefore rate of pay, hours, holidays and working conditions are up to you. Here are the benefits of contracting:

Financial benefits

Contractors often get paid higher rates as employers are paying for their flexibility.

Contracting through your own limited company is the most tax efficient way possible and isn’t as hard or time consuming as you might think.

You will often be paid on an hourly basis with high overtime rates.

You can offset all of your business expenses against your income to further reduce your tax bill.

You have more flexibility to negotiate pay rates and conditions.

Flexibility

As a contractor you are your own boss.

You will have the freedom to work when you want/need.

Contractors can choose to spend more time on their hobbies such as sports or travel.

Contracting is ideal if you have a family or young children as you can work around parenting duties and school hours.

Changing contract is often be easier than changing jobs.

The company you work for is not your employer, but is instead your client.

Skills development

Working in a variety of businesses will broaden your skill-set and knowledge.

You will have more opportunities to taste test industries.

Your confidence will grow as you deal with a number of employers, managers and colleagues.

Contractors often have a very extensive CV with a strong list of references.

Skills and knowledge

Contractor is essentially a form of networking. It’s highly likely one contract job may lead to another.

There is sometimes room for contract work to become permanent.

Working for different organisations gives you the ability to advance your career without being limited by a single employer’s processes, procedures or business ethos.