As 2018 comes to a close, contractors across the UK are setting into motion, plans for their 2019 year. For many of the contractors registered with us, the last 12 months has seen some great successes, and therefore we want to support them moving forward to ensure their contracting career continues to thrive in the New Year. Take a look below as we explore our top five tips for your contracting career in 2019.
Seek out further opportunities
It is expected that opportunities for contractors will rise dramatically in 2019, with demand for specialists in IT and construction of particular interest due to ongoing projects and skills shortages. Whether you are seeking out your own contracts or working through an agency, ensure you keep abreast of opportunities arising and put your name and experience forward as soon as possible.
Evaluate your position
For many contractors, there comes a point in their career when operating under an umbrella company is no longer the most tax efficient way to work. When contractors reach a certain hourly rate, establishing your own limited company is the next logical step forward, as it will provide you with much more control over your own finances, limits your liability, to name just a few benefits.
Planning your holidays
Having a thriving contracting career is all well and good, but it is vital that you ensure to plan and book your holidays to give you a much-deserved break. This will not only benefit your own well-being, but taking time for yourself will greatly improve your productivity in the long run.
Improve your skills
Businesses are now expecting more and more skills from contractors, whether it be in new pieces of technology, adapting skills in response to new legislation or improvements in best practice standards. Therefore, it is highly recommended that contractors regularly invest in training, to boost their skill set that will subsequently attract a wider range of contracts.
Work with a reputable umbrella company
Compliance is key for every contractor, and therefore working with a reputable umbrella company is vital in ensuring you comply with HMRC guidelines each step of the way. Our dedicated team here at Exchequer Solutions provide a service that does just that, ensuring a compliant, high quality and efficient service at all times.
Speak to a member of our team today to find out how we can help your contracting career to thrive.