Choosing the right contracting route for you
Thursday 23rd May 2019
When contracting one of the key concerns that many contractors have is how they will be paid and how to manage their pay, expenses and tax affairs.
Most people pursue contracting because they want to enjoy the flexibility and variety a career in contracting can offer. However, for many staying on top of admin, paperwork, expenses and tax returns isn’t so appealing which is one of the reasons why it is so important to consider the right route to use. Choosing the right route can save valuable time, stress and ensure contractors are benefiting from the most tax efficient approach whilst remaining compliant.
Choosing a contracting service
We know from years of working with contractors that everyone’s circumstances are different. With this in mind at Sterling, we offer a choice of services so that our contractors can benefit from the service which suits them best. Circumstances change, careers progress and legislation changes so by offering a range of routes we are able to support our contractors and offer a service which suits their needs at every different stage in their contracting career.
At Sterling we offer the following different routes: umbrella, limited, PAYE and self-employed CIS. The best route for any individual will depend on a range of factors such as:
Those in the construction industry could be eligible for our self-employed CIS route
Rate of pay
Operating as a Ltd company might be more tax efficient for those on higher rates of pay
The finer detail of the contract and whether the individual is subject to SDC (Supervision, Direction or Control).
Whether you are currently using a payroll provider and reviewing your situation or have never used one before and are unsure of which route is right for you then we can help. Our services pages offer more detailed information on each route. This should help but if you would like to discuss your current circumstances and talk through which routes are available to you then we’d be more than happy to have a chat. We will work with you to understand what you are looking for and help you to decide on the route which will work best for you.