Start Professional Contracting
Start Professional Contracting

Start Professional Contracting

​​Umbrella and Limited Companies

One of the first steps in becoming a professional contractor is setting up or joining a company. Which can seem counterproductive to the ideas of independence and freedom encapsulated by being a professional contractor.

But, Independent contractors do need to use a company as a legal entity for two main purposes:

To register for tax and to invoice their clients.

They achieve these goals by registering with an Umbrella Company or a Limited Company. Both options come with a variety of pros and cons.

For example, an Umbrella Company allows a Contractor to start work almost immediately. Registering for a Limited Company takes up to 8 weeks.

On the other hand, a Ltd Company gives more freedom and flexibility in a contractor's tax obligations but requires the contractor to register and complete their own tax documents.

As a professional contractor deciding which system works best for you is an important first step on your new career path. Cpl are here to help you understand both options and to help ensure regulatory compliance isn’t a hindrance to your growing contracting career.

Benefits and Considerations to Professional Contracting

Changing from full-time employment to professional contracting is a seismic career shift.

The freedom professional contracting allows is exhilarating, it can give people much more control over their careers and working life. 

Professional contractors can choose where and when they work.

They can develop skill sets which interest them and propel their career forward. And they can arrange work around life instead of the other way round. 

As always, increased freedom comes with increased responsibility.

Professional contractors need to take charge of more aspects of their lives.

Their employer will no longer supply benefits or calculate taxes and contractors need to manage more of their personal administration.  

Professional contractors need to be aware of the freedoms and responsibilities their choices bring.

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Cpl's Professional Contracting Team

Libby Kelly
Michael Fitzgerald
Jennifer Navan
Stephen Tighe
Shane O'Mahony
Andrew Hume
Arlene French
Thomas Cunningham
Kevin O'Connell
Michael Boyhan

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