Re: [Hampshire] [OT] IT Contracting accounting?

2009/3/17 Stuart Matheson <stuart.j.matheson@???>
>
> Hey All,

Hey Stuart,
>
> I'm looking to do some IT contract work in the short term and have been looking at either finding someone who will do all the accounting/National Insurace/Tax/etc for me (and for a small commission too, I presume) or setting up my own limited liability company and doing it all myself.
>
> Has anyone from HantsLUG had experience in doing this kind of thing before and is able to offer any advice?

Conventional Wisdom has always been that for computer contractors
setting up your own Ltd. Company is the way to go. Indeed, some
agencies and some clients require a contractor to have their own
limited company in order to do business with them at all.

However, there are some 'umbrella organisations' that you can use
instead, where (AFAIK) the organisation looks after some of the (from
your point of view) overheads such as administering the NI, VAT, etc.
It seems that these are more often used by contract project managers
and similar professionals on the one hand and IT Support types on the
other, but I'd imagine that that is purely coincidental. Certainly the
majority of freelance sotware
engineers/programmers/whatever-you-call-em have their own ltd company
and look after their own NI, Revenue and VAT admin (or else are lucky
enough to have an Other Half who can do that!)

In fact the (consultant, part time) CTO I report to is a user of one
of these umbrella companies so I can ask him for more info if you
like.

>
> I've also been involved in software development and wouldn't mind getting into quality assurance or system administration. Any advice on transitioning to either of those?

If you find the right sort of role in the right size/type of
organisation, that sort of transitioning can just happen. Small
companies tend to have more blurred lines between roles ;-)

Good luck!