me ticking overStarting Out on your own as a Contractor

[hadenough!]

I currently work as a PM, have 10 years relevant experiance, a couple of degrees, a professional qualification and a Chartership.

In the near future I may find myself jobless with a few months salary to keep me ticking over.

Am I being daft thinking about setting up on my own as a contractor / consultant? How would I get started? Any quidance / advise / experiance would be helpfull.

Thanks.

[Light2Dark]

You can either go self-employed or go Ltd Company, there are advantages and disadvantages, you can easily research this on google.

I contract as an engineer and its a requirement of Agency and Company i contract for that i have to be Ltd or go Umbrella. I can either get paid through an Umbrella company or go Ltd Company. I'd recommend going Ltd as you can yield more take home.

Starting a company on companies house is fairly straight forward, once you have done this, you can do the next stage of opening a business bank account. And your set to go.

I'd recommend getting an accountant as they can help with your tax return at the end of the financial year.

Hope this helps a little. However i'm no expert

[Eric Mc]

Lots and lots and lots of threads on this very topic here on PH.

Most of the issues that you need to be aware of, especially how IR35 works, have been discussed here quite a lot.

Look in the business and finance forums as well as this topic is not really an "employment" matter, is it

[hadenough!]

Thanks chaps, I'll have an investigate of the old threads.