Step By Step Guide :)

[gslick]

Hi,

I have been in full time employment for the last 10 years doing SQL Server based roles (Developer/Administrator) and have lots of Microsoft Qualification in that area.
I have read the first timers guide and other stuff on this website but it seems that there is a lot to learn.

Please could someone give me a step-by-step guide on what you would do if you was going to go from Full Time to Contracting employment.

i.e

1) Find a contract
2) Get contract checked (which companies would you recommend? QDos)
3) Set up Limited Company
4) Set up a business account
5) Invoice the end user (Would I invoice the end user or the recruitment agency)


Please could someone fill in what is missing?
Would I personally invoice the customer/agency, i.e open up word and write an invoice?
When I get paid into my business account, could I transfer a wage straight away into my personal account?

Thanks

[cojak]

Hi,

I have been in full time employment for the last 10 years doing SQL Server based roles (Developer/Administrator) and have lots of Microsoft Qualification in that area.
I have read the first timers guide and other stuff on this website but it seems that there is a lot to learn.

Please could someone give me a step-by-step guide on what you would do if you was going to go from Full Time to Contracting employment.

i.e

1) Find a contract
2) Get contract checked (which companies would you recommend? QDos)
3) Set up Limited Company
4) Set up a business account
5) Invoice the end user (Would I invoice the end user or the recruitment agency)


Please could someone fill in what is missing?
Would I personally invoice the customer/agency, i.e open up word and write an invoice?
When I get paid into my business account, could I transfer a wage straight away into my personal account?

Thanks

Hi gslick. Welcome to CUK

So to fill in the gaps...

0) Hand in your notice, wait until you have less than 30 days then put your CV onto jobserve and Monster.
0a) Find and use an accountant, they will help you with everything else.
.
5) Invoice the agency - they are your customer, that's with whom you have the contract and who will pay you.

Use Excel to create the invoice, there are calculations in it after all, but your accountant will be able to give you a template. Ask before you join them.

Also your accountant will tell you how much to draw for salary and how much to save for tax.

But go back to the First-Timer's Guide and re-read the Top First Timers Articles (found in a box on the right of the site).

This answers your questions in more detail:

http://www.contractoruk.com/first_ti...heatsheet.html

http://www.contractoruk.com/first_ti...e_for_tax.html

Good luck!