IT contracting in the UK is a great opportunity for specialists. To make the most of it, you’ll need a strategy for handling the numerous admin responsibilities.
Going it alone: figuring out your visa and taxes
First off, you’re going to need a work permit to work in the UK. You should also be aware that an employer will need to sponsor you on a work permit.
Moreover, you’ll need to sort your taxes – in UK and back home.
Using an intermediary: benefits of working with a Management Company
Many contractors outsource burdensome admin tasks to an Umbrella Company.
The Umbrella Company essentially acts as your employer, even though they don’t control your clients, your workload, or your hours. They collect payments from the end client, filter out the necessary social security and other fees, and send you a net wage.
They’re also experts in local tax law, so you don’t have to navigate a whole new tax system on your own. They ensure you keep the largest amount of earnings as you legally can. They can also help you reduce any tax liability back home.
You keep more of your earnings, all while staying on the right side of tax authorities in UK and in your country of tax residency.
Basically: you get all of the benefits of a full-time employer, without giving up any of your independence as a freelance worker.
Get in touch with us if you’d like simple feedback on IT contracting in UK.