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CONTRACT ASSIGNMENTS

Contract Recruitment

Contract positions are referred to in different ways. Our reference to Contract is to those that offer their services via a Limited company either of which the professional is a director or operates through an umbrella company. Contractors are generally assigned for a fixed period of time or for a specific piece of work/project where the contract is terminated after completion.

Payments for these services are on a pro rata basis or for a specific project. There will usually be a notice period for termination of the contract by both parties

As a contractor you supply your services and will work under a limited company of which you may be a director, shareholder or employee. There are various pointers in the contract assignment as to whether or not you are under the direction of the client and therefore deemed as self employed or an employee for tax purposes. These will all have implications as to your taxation status