If you work within the aerospace and defence sector, you know the industry provides a range of benefits for contractors.
However while the freedom that comes with being a self- employed contractor can be liberating,it does come with the responsibility of maintaining your own payroll and finances.
When working with the aerospace and defence industry as a contractor or consultant, you’ll no doubt be aware of the need to ensure you maintain good financial records. You need to keep records of your accounting and meet regular financial deadlines, submitting the correct paperwork to third parties including HMRC.
When acting as a contractor or consultant, you will need to ensure you comply with the ever-changing rules and regulations that dictate how contractors must operate, which can be time consuming and complex to understand and adhere to.
New to contracting?
You may have worked in the industry for years, but have just made the switch from employment to contracting. In whichever case, the additional responsibility of managing
your own payroll and/or company accounts can be especially daunting. This extra responsibility can often seem overwhelming, leaving you with less time to concentrate fully on what you enjoy most - your contracting role.