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It’s vital on day one that you decide which business model you want to adopt. There are two options, each with its own pros and cons.
From £90/month + VAT
Whether you’re a lone wolf contractor or an established enterprise, we have a solution that suits you. Choose your package.
From £40/month + VAT
Feeling lost in a labyrinth of numbers? Don't worry, we'll help guide you through. Let us help you to crunch the numbers while you rock the business world like a boss.
The main benefit of option two is a financial one, whereas the main benefits of option one are a simpler business model, no cash-flow issues and less liability if things go wrong. If you do choose option two then a limited company is almost certainly going to be your best bet, but you should still take advice from an accountant to be sure. Click the following link to find out more about the differences between operating as a limited company or as a sole trader.
The other factor to consider is whether you would be happy to work on your client’s premises as an employee would for a fixed period of time, or a set number of days per month - or whether you prefer to work from home. This latter option gives far more flexibility to work with multiple clients simultaneously and is generally what is known as ‘freelance’, whereas working on a client site would be more of a ‘contract’ arrangement.
If you do end up working on a contract basis, then Caroola can still provide all of the support you need. For example, whether or not the work you are carrying outfalls within IR35 legislation and what the implications of this would be.
If you have any questions about freelancing or would like any further advice please get in touch
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