Top five reasons to go limited

2. “A bird sitting in a tree is never afraid of the branch breaking, because her trust is not in the branch but in her own wings”…..is a powerful quote. Although the author is unknown it is very powerful and can be applied to many area’s of our lives, personal and professional. The one constant in this ever changing world is you. With information easily accessible on the web and higher education freely available in the UK, the competition for jobs is at an all time high which is why increasing numbers of people are choosing temporary contracting as a more suitable option. A recent labour force survey suggests almost 1.7m people were working as temporary contractors in September 2015 which is 24% higher than 20 years ago. If you’re one of many people that can’t stand the thought of working in a 9 to 5 job for a demanding boss or you just don’t want to commit to a permanent contract at the moment, maybe the variety that can be enjoyed in temporary contracting is for you. If you decide contracting could work for you, then registering your own limited company could be the best option to get paid. Below are the top 5 reasons to go limited;- The best take home pay – despite some recent legislative changes, freelancing via a limited company will still ensure you have the best take home pay. By benefiting from tax relief on your incurred expenses and paying yourself a combination of salary and dividends you will enjoy the highest returns possible. Flexibility – by freelancing via a limited company you are not tied into contracts with agencies which means you are free to pick and choose the assignments that are most practical and profitable for you. According to the REC there are 8,000 registered recruitment agencies in the UK therefore there should be plenty of work seekers desperate to ensure you are making the living that you would like. You are not alone – the biggest factor that puts people off operating a limited company is the additional responsibilities and administration. There are intermediaries that can assist with invoicing, insurances and opening business bank accounts to lessen the burden, you will also be kept up to date with any changes in tax or employment law that may affect you. VAT Flat Rate Scheme – As a limited company freelancer you can take advantage of an initiative promoted by HMRC called the ‘flat rate scheme’. Freelancer services are

3. vatable however you can use this to your advantage by only paying a portion of the VAT back to HMRC, the remainder is retained by you as additional turnover. Badge of Honour –You’ve made it! You’re a company director, working for yourself and answering to no-one (except for your husband, wife, boyfriend or girlfriend etc). The great Benjamin Franklin once said “in this world nothing can be certain, except death and taxes”, life is too short so go and enjoy the freedom of contracting and don’t pay more tax than you have to. See more at: http://www.anytime.uk.com/blog/top-five-reasons-go- limited/#sthash.ppGeinGx.dpuf