Hello there
I started working as an IT contractor last December. I got the job via a recruitment agency and I signed up with an umbrella company. Now, after 3 months, I already have enough of many things:
- since I work through recruitment agency, I need my timesheet to be submitted and approved every week. I am dead tired of chasing my manager every single week asking her 2-3 times to have a look at my (online) timesheet so I can get paid on friday
- the recruitment agency takes quite a good margin for doing basically nothing. Really, the guy doesn't even reply to my emails, so why should the agency take £5 for every hour of my work...just because they got me the interview?
- i have to pay the umbrella company too (£20 a week)
Basically, I'm tired of all these additional layers between me and the company I am working for and since my contract is about to get extended for quite a few months, I am thinking of "cutting" off both agency and umbrella.
From my readings, becoming a sole trader seems to be the most viable option.
So, can somebody explain to me how it works? As far as I have understood I have to
1) register as a sole trader
2) send every week/month an invoice to the company for my services (no more timesheets!)
3) keep all the receipts of my expenses
4) once approaching the end of the financial year, find an accountant
Is it that simple or am I missing something?
Thank you very much for your help
MattZani
I started working as an IT contractor last December. I got the job via a recruitment agency and I signed up with an umbrella company. Now, after 3 months, I already have enough of many things:
- since I work through recruitment agency, I need my timesheet to be submitted and approved every week. I am dead tired of chasing my manager every single week asking her 2-3 times to have a look at my (online) timesheet so I can get paid on friday
- the recruitment agency takes quite a good margin for doing basically nothing. Really, the guy doesn't even reply to my emails, so why should the agency take £5 for every hour of my work...just because they got me the interview?
- i have to pay the umbrella company too (£20 a week)
Basically, I'm tired of all these additional layers between me and the company I am working for and since my contract is about to get extended for quite a few months, I am thinking of "cutting" off both agency and umbrella.
From my readings, becoming a sole trader seems to be the most viable option.
So, can somebody explain to me how it works? As far as I have understood I have to
1) register as a sole trader
2) send every week/month an invoice to the company for my services (no more timesheets!)
3) keep all the receipts of my expenses
4) once approaching the end of the financial year, find an accountant
Is it that simple or am I missing something?
Thank you very much for your help
MattZani
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