Contracting is diverse and attractive, and is becoming an incredibly popular mechanism to harness short-term expertise in all of the world’s leading economies.
Since the outbreak of COVID-19, contracting has become incredibly popular for both individuals and businesses, and far more commonplace. The transition to telework and remote working significantly accelerated, while basic commercial innovation also accelerated, including digital forms, website developments and e-signatures.
Today, contractors make up a significant percentage of the global workforce. Domestic workers, expatriate workers, individuals with contracts abroad as well as professional IT, medical and aviation contract staff form a large part of the domestic and expatriate contractors working abroad.
Contract work is expanding into all corners of the economy, while many economists estimate that within a decade, contractors will outnumber fulltime workers. More and more companies are turning to independent contractors to source professionals with the ideal mix of skills and availability.
Rules for independent contractors depend largely on the specifics of their role, as well as the country in which they are contracting. However, independent contractors are typically responsible for the entirety of their business expenses.
Many skilled professionals choosing to operate as self-employed are often referred to as contractors or freelancers. This usually entails operating either through an umbrella, composite, single person company or similar type of scheme. It may, depending on the location, require to be operated through a payroll scheme.
Contracting presents numerous benefits to the individual, including enhanced flexibility, excellent pay, heightened independence, the development of current and new skills, immense variety, and the ability to build international networks. That being said, contracting can be an incredibly rewarding experience, however, it is not without its pitfalls.
Various agencies in different locations choose to work with contractors, only if they are coming through an approved scheme. This can involve a considerable administrative burden to the freelance contractor, especially if there is a frequent change of contracts.
What’s more, a number of unforeseen issues can arise from working as a contractor overseas, particularly where compliance is concerned. Often when consultants switch countries regularly, this can pose additional complexities in terms of navigating international or local tax laws, as well as compliance requirements.
Without expert help, navigating the world of contracting can be complex and confusing. What’s more, it can easily lead to tax, social security and immigration mistakes.
Most contractors prefer to concentrate on their core areas of business and retain consultants with expertise in this field to navigate these complexities.
Benefits of using Chesterfield’s Contracting Services
Working overseas, whether within or outside of the EU, need not be complicated or bewildering. At Chesterfield, we provide simple, seamless and compliant services, as well as the highest level of service.
We operate numerous self-employed schemes and have operational umbrella companies in order to take this burden from the contractor. By choosing one of these established schemes, you are allowing us to handle all the tiresome administrative burdens for you whilst you also reap a number of additional benefits, such as claiming back expenses and possible tax reduction.
We also provide international payroll, immigration, tax and social security solutions. We take care of the administrative burdens of contracting, in many countries across the globe.
At Chesterfield, our mission is to enable the global workforce to enjoy the freedom and flexibility of contracting. Whether you’re contracting short or long-term, we have the ability to meet your every international contracting requirement.
Our team of experts will clarify any queries you may have, and take care of all administrative burdens, ensuring the best solution for your unique circumstances, whilst remaining fully focused on compliance at all times.
Through our knowledge, expertise and professionalism, we ensure you get the right contracting solutions. We can provide you with compliant and effective contracting solutions, wherever you are working in the world. We are incredibly proud of our global reach and local knowledge.
At Chesterfield, we take a highly consultative approach, working quickly and resourcefully to ensure the most practical, efficient solution. We help contractors to maximise their take-home pay in a transparent and meaningful way, ensuring you fully benefit from your work. From tax, social security and VAT, we ensure all of your needs are handled compliantly, no matter which countries you work in.
Contact Chesterfield today to discuss your contracting needs, and for a comprehensive understanding of our in-depth solutions.