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Contractors
UnlimitedStaying Informed |
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Welcome to the Contractors Unlimited September Newsletter sponsored by
ContractorUmbrella.
Recent legislative changes introduced by the UK Treasury have affected many contractors operating through Managed Service Companies (MSCs) and we would urge you to carefully consider the implications for your business.
Lisa Keeble at ContractorUmbrella told ContractorsUnlimited:
"The recent MSC legislation, introduced in April 2007, means that contractors need to ensure that any payments they receive through a third party are subject to PAYE deductions for tax and national insurance. Therefore, even if your contract is outside of IR35, the only way you will legally be able to receive payment in dividends is through your own Limited Company over which you must have total financial and administrative control. The law on this subject is quite clear so you should ensure that you research your potential umbrella company thoroughly as the burden of any underpaid or unpaid taxes will fall on the individual in the event of an investigation."
ContractorsUnlimited.co.uk hosts a wealth of information. Several years of providing this free service has resulted in a massive library of project information, engineering industry news and contractor guides.
Do you provide products and services to freelance contractors and contracting companies? Find new clients by featuring your company on Contractors Unlimited, the Resource for Contractors and Energy Industry Specialists.
Don't keep Contractors Unlimited to yourself ~ do let your colleagues know about it!
Best Wishes
Avril Carruthers
Editor |
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E.ON Plans One of UK's Largest Wind Farms off Yorkshire Coast
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Jacobs Receives Framework Contract From Magnox Electric
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Jacobs Receives Contract for Dye Project in Scotland
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Jacobs Receives British Energy Asset Improvement Contract
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Jacobs Consultancy Receives Contract for Refinery Upgrade Project
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UK News Archive
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Petrofac Investment in Pipeline to Supply South Africa
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Foster Wheeler Awarded Contract by CEPSA in Spanish Refinery
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Technip Awarded Contract by Statoil for Gjøa Field
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AMEC Awarded Contract for Potash Project
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Technip Awarded FEED contract for Grassroots Refinery
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Jacobs Selected by GlaxoSmithKline as Singapore Alliance Contractor
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Technip Awarded Contract for Cili Padi Gas Field Development
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Westinghouse and Shaw Sign Historic Contracts
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Jacobs Receives Two Sulfur Recovery Project Contracts in China
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International News Archive
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AMEC's New Oil & Gas Centre Opens in Teesside
The Rt Hon Nick Brown MP officially opened a new design and engineering centre at Lion Court, Wynyard Park, Teesside on behalf of AMEC, the international project management and services company. One hundred and fifty highly-skilled designers have relocated from AMEC's office in Wallsend, Tyne and Wear to the new state-of-the art facilities at Wynyard Park to enable the company to further create new jobs, including posts for trainees and graduates. The number of personnel should rise to around 300 over the next year.
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Foster Wheeler USA to Relocate to Houston's Energy Corridor
Foster Wheeler Ltd. subsidiary, Foster Wheeler USA Corporation, part of its Global Engineering and Construction Group, is relocating to a brand new Class A, 332,000 square foot building currently nearing completion. Foster Wheeler USA Corporation will occupy the entire thirteen-story building, consolidating all Houston operations into one single structure. The new building is located in the center of Energy Corridor at the corner of Eldridge Parkway and Interstate 10 (Katy Freeway). The significant growth of the Houston operations at its current locations, 2020 Dairy Ashford and 5959 Corporate Drive, necessitated the move to a larger single location.
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Contractor News Archive
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Gas Condensate Discovery West Of Shetland
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Total Sells Its Interest in Milford Haven Refinery
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Petrofac Exchanges North Sea Interests
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Hydro Acquires Interests in UK Heavy Oil Fields
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AMEC and MMC Form New Malaysian Company
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Royal Dutch Shell Signs LOI for Sale of Two French Refineries
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Talisman Energy Sells Non-Core North American Assets
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Industry News Archive
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Contractors Unlimited Guides and Resources |
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Becoming a Contractor
Why and How and What to do Next
For most engineers and designers, the main attraction of being a contractor is money. The prospect of earning twice the rate or more than a permanent employee is inviting.
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Finding a Contract
Generally, engineers find work through an agent, though personal contacts are useful. Both avenues should be pursued.
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Operating Your Business ~ Which Should I Choose?
This depends on your individual circumstances and your approach to life. Before deciding you should have a chat with your Accountant so your particular circumstances are considered.
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Getting Paid
How you get paid will depend on how you have set yourself up i.e. limited company etc. No matter which way you are set up, you will be required to fill in a timesheet and possibly even issue an invoice.
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Accounts and Accountants
No matter how you eventually decide to operate, it is essential to speak with an accountant BEFORE you decide. They will be able to advise the optimum route for you, based on your individual circumstances.
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Contractor Recruitment
Solve Resourcing Problems - Find Contractors Here
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Contractor Profiles
Enhance your Contractor Profile by including your Profile Request, then send your CV to complete your free advertisement !
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Technical Toolbox
Engineering resources in the form of charts, tables, definitions and links will hopefully make life easier and safer. If you would like to see a particular topic added to the toolbox then let us know - just use the link at the bottom of the page and we will do the research !
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ContractorUmbrella is one of the largest and most respected umbrella companies in the UK and has set standards of excellence that are envied throughout the industry. Established in 2002 it is now recognised as being a market leader with several thousand satisfied customers. We are the only umbrella company that offers a full money-back service guarantee, fixed fees and no sign up or exit fees.
For your FREE contractor download as well as our comprehensive First Timers Guide visit www.ContractorUmbrella.com, email info@ContractorUmbrella.com, or speak to one of our trained advisors on 01206 713680.
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