Introduction to Contracting

There are many different professions where contracting is common and growing. If you have a specialist skill in your area of work, you should be able to succeed as a contractor. Cascade clients include accountants, bankers, IT specialists, lawyers and many others.

Find out more about our clients.

As for finding contract work, you can source it either on your own or through a recruitment agency. In the following advice we assume you will be using agencies.

Always know what your particular skill set is worth. Ask agencies and other people in your market what the current rates are. Remember that there are actually two rates that will be negotiated:

1. The rate the end client pays the agency
2. The rate the agency will pass onto you

So always allow for the agency's markup. Depending on what margin they take, they may have room to give you more.

Find out all you need to know from our partners, chartered accountants Kingston Smith.

If you're British you'll already have one of these but if you're not, you will need one. Getting one is a fairly simple process and you can find the rundown of what's required here. There are companies that will apply for you for a fee, but you can easily do it yourself for free.

If you're British, you've probably already got this sorted. If you're new to the UK, you'll need to make arrangements. Be warned though: what you might expect to be a relatively simple task can be difficult. The Government's anti-money laundering regulations are quite exhaustive. You'll need proof of identity and proof of address to be able to set up a bank account. This means getting your name on a household bill as soon as possible.

There are companies that can provide you with a "landing package" that includes a bank account and an NI Number appointment. But again, why pay when you can do it yourself?

If you're a Global Career Link client, they can set up a bank account for you through Lloyds TSB free of charge.

Apologies if this is obvious to you, but some contractors we meet aren't doing enough in this area. Remember, you're competing against thousands of other contractors for roles. How are you going to stand out from the pack?

Using an online tool such as LinkedIn is a good place to start. You can join groups there and offline, in the real world. Through them you can let the market know you're available and what your skill set is. And you can make connections with people in your industry.

Joining a networking group could also help you make the contact that lands you your dream job. Using a simple online search like www.findnetworkingevents.com can guide you to a networking group in your area.

As a contractor, you can take advantage of tax-efficient payment structures that maximise your income. At Cascade we provide you with unbiased advice so you can be sure the payroll solution you choose is the most suitable one for your individual needs.