Contracting and freelancing has grown hugely in recent years as the demand for highly skilled and experienced workers for short projects has increased. The main sector that has took off in Manchester is digital and graphic design however this has not come as a surprise with launch of MediaCityUK back in 2011. Companies within MediaCityUK have become extremely keen in the employment of contractors and freelancers.
Leaving a stable job is a risk, although this has become a common sight in recent years in Manchester. Many individuals have opted for a change by deciding that the freelance and contracting route was best for them, a move that allows for freedom, choice and flexibility.
Contracting within a limited company has become extremely familiar due to this being the most tax efficient way of working. This route is tax efficient due to savings being on the flat rate scheme, taking dividends tax free and claiming a wide range of expenses.
Although the vast majority believe this is a risky route to take, many quickly see the benefits by earning significantly more money than in their previous jobs. This has caused a knock-on effect with friends and relatives who are also leaning towards operating as a freelancer or contractor. Evidence of this includes the rapid development of freelancing and contracting in the UK with 4.47 million people selecting this career in April 2015 compared to 3.28 million 15 years previous.
This route has very beneficial aspects for both the contractor and the employer. Those employers who needs to recruit for particular projects will need candidates who can adapt quickly, therefore hiring a contractor is certain to provide this allowing for selection of highly experienced and skilled workers. Furthermore, the contractor will also gain an impressive CV as working in many varied environments will provide lots of experience along with the flexibility to take breaks between contracts.
Here at Gorilla, we provide a premium accountancy package for the monthly cost of £85 + VAT, which is specifically aimed at contractors and freelancers, not only in Manchester but all over the UK. This includes cloud accounting online software and your own dedicated accountant who will provide you with unlimited support. If you’re interested, give us a call on 0330 024 0406.