Entering the contractor market has many benefits but also brings with it a number of challenges and obstacles. The first hurdle is to choose the right trading vehicle for you ; be it Limited Company, Sole Trader, Partnership or PAYE Umbrella.

The table below illustrates the difference in earnings retention for a single contractor with a day rate of £300, expenses of £500 per month, and a directors salary of £1,200 per month.

Limited Company Sole Trader PAYE Umbrella
Turnover £69,000 £69,000 £69,000
Take home pay £49,297 £47,789 £42,645
Retention (%) 71% 69% 62%


Our Accountants have all the experience to guide you through your options, with an objective appraisal of the best fit for your requirements, advice on IR35 issues and maximising take-home pay. We then tailor our services to your decision, assign you a qualified personal accountant and agree a fixed monthly fee with you