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Are you looking for a savings account that will help you save diligently for the future but still be able to have easy and immediate access to the money in the account as and when the need arises? Look no further than the Instant Access Savings Accounts.  These accounts provide a way to save your money and still be able to use this money when the need arises, without having to pay hefty amounts of penalty fees.   They also allow you to move your money as you please as long, which enables you to move your money to an account that will attract maximum profit on your savings as soon as you discover that your existing savings account is no longer doing that. The best instant access savings accounts are usually the ones that earn you good returns through valuable and great interest rates, enabling you to make maximum profits on your savings.

When looking for such an account, do your research well and compare some of the best instant access savings accounts available in the market.  You can visit your bank or search online to help you choose from a list of some of the  best Instant Access Savings Accounts available in the finance market, that will suit your needs and attract great earnings. Online sites such as money.co.uk, moneysavingexpert.com, etc. will enable you to find these accounts and compare their interest payments and account accessibility. The sites will also allow you to access the account of your choice online and provide necessary information on accounts that are only accessible through bank branches or by post. Read the rest of this entry »

A recent study has shown that IT experts are looking for long-term contracts, even though they pay less than more unreliable freelance work. Umbrella company Giant have undertaken analysis that shows that short-term employees in the IT sector prefer the security of lengthier contracts even though a more casual agreement might pay more for the short term.

According to the survey, two-thirds of IT contractors would undertake a less financially rewarding task even when confronted with the chance to accept a higher paid short-term role. This means that that job security is among the most highly valued elements of a position, specifically in the present economic climate that could be called ‘uncertain’ at best. Approximately one third of people surveyed indicated that they would plump for the higher-paid deal, with the vast majority indicating that long-term stability is preferable to income.

Anyone who has taken a position with a lower wage can at least figure out what they will end up with after tax along with other deductions using a take-home pay calculator. Additionally, any advice you might need regarding IR35 law and regulations is accessible from your accountancy company, who will be well-versed in all aspects of the law in terms of these issues.

The survey also demonstrated that IT contractors are experiencing less and shorter periods unemployed, with 80% of those questioned confirming spending 31 days or less without work. The year before the same study showed this figure at 78% – while at the same time the retail industry spent more heavily in IT as modern day innovations guide their thoughts toward mobile commerce. 17% of IT contractors surveyed claimed work from the telecoms sector – a rise of 43% in contrast to 2011.

A word of caution for IT contractors, nevertheless – the stability of long-term contracts is great, but be careful not to put all your eggs in one basket. This viewpoint originates from the experience of those that have found themselves becoming too involved with one firm in particular, leaving themselves open to the latest changes in IR35 regulations. Standing on your own as a service provider as opposed to an employee provides much greater independence.

If you’d prefer to speak to someone concerning the pros and cons of dealing with long-term contracts with similar company, get in touch with Nixon Williams today and see what effect this might have on your taxes.

When moving from permanent to contracting, the change might be a little scary. However, there is no real reason for the fear. This article is a step-by-step guide into contractor-hood, hopefully making the process of change a little easier for you.

1) Find a Contract. Make sure your CV is completely up to date, engineering it with keywords and facts to suit the style of contract job you are after. With so many job roles and opportunities out there, make sure you utilise the internet by registering with as many online job sites as possible to maximise your chance of finding a contract.

2) Know you IR35 Status. IR35 legislation was introduced by the government to make sure that contractors have not taken on a work ethic which may be similar to that of a permanent worker. You might be taking home less home pay if you fall under IR35 legislation. Your recruiter should inform you as to where you are inside or outside of IR35.

3) Limited or Umbrella? Normally contractors choose to work through an umbrella company if working with short term, lower value contracts earning less than £25,000 a year. These contractors will normally earn between 60%-65% of their contract. Accountants for contractors will tell you that working for a limited company is the most efficient, and you can potentially take home about 75%-80% of your total contact worth. Administrative work-wise there probably is about 15 minutes a month on average that you will have to deal with, however, you will benefit from hiring a contractor accountant to deal with this plus help you with any other issues.

4) Appoint an accountant for contractors. Getting hold of an accountant who is experienced in the field of dealing with contractors is very helpful. A contractor accountant will give you advice, taking you on your journey through your contracting career.

5) Forming a limited Company. Using a contractor accountant will be able to help you with forming your own limited company. Any good contractor accountant should be able to supply you with the forms that you need to do so, which is a quick process enabling you to start trading that very same day.

6) Create your Business Bank Account. An experienced accountant for contractors will probably inform you that opening and setting up a business bank account is essential. Being a contractor, you need to keep your personal account separate to your business one – since your limited company is seen and treated as a separate entity. Therefore, all your business transactions should go through your business account, funnily enough.

Being a contractor has always had its advantages. Currently in this economic climate, people who are in permanent jobs are realising that their jobs might not be so ‘permanent’ after all – ergo turning their heads to contractual roles instead. Being a contractor ultimately brings a lot to the table career-wise. As a contractor, you have more control, flexibility, a chance to develop skillsets within a chosen field, financial bonuses and even scope to travel or even work from a home office – just to name a few aspects. What attracts people to permanent jobs is the perceived security combined with schemes for pensions and annual paid leave. Making the decision to turn contractor can be intimidating for some at first who like the comfort of their permanent job, but as once made it is really possible to reap the rewards in all terms of your career.

Making the move to Contractor

The first step into becoming a contractor is, as obvious as it sounds, find a contract. You may be sat at your desk thinking that this not a smart move, since there are not many jobs available – however, recent years have shown a rise in contract roles for companies are hesitant to employ permanent staff simply because they are not able to support them long-term. Important things to remember when getting a contract:

• Refresh your CV – Highlight key skills that help you look the best as a contractor whilst talking about recent employment and what you achieved.
• Find recruitment agencies that concentrate on your denoted field of work.

Types of Contractor

There are different ways that a contractor can work by – limited and umbrella. Umbrella companies are great for short term, smaller value contracts, whereas limited companies are ideal for longer contracts where the take home money is £25,000 plus.

• Limited – take home pay around 80% of your contract total value – lots of paperwork and legal technicalities to take care of.
• Umbrella – take home pay around 60%.

IR35

IR35 is something you need to take careful note of when you become a contractor. One of the first things you need to check is your IR35 status, find out whether you fall inside or out of IR35 legislation – before you sign that contract. If you don’t do this, you could potentially find yourself in a lot of legal trouble. If you are within IR35, you will take home less money; simple. If you operate through a limited company if inside IR35, there are true benefits to be had, including; Flat rate VAT scheme enabling you to pay only 95% of your contract. This is where working with a specialist contractor accountant comes in handy.

Contractor Accountants

It is important to select the right contractor accountant for you. Be specific, don’t just wander down the high street and choose a general accountant – find one in the same field as you who can deal with you on a personal level. Take your time, don’t rush the decision. Always look for accountants who look trustworthy – you can see this from how long they have been established and how many awards they have obtained from top organisations.