How to become an Independent Consultant (Contractor) in the UK

Learn how to become an Independent Consultant (Contractor) in the UK... And Double Your Income! ****** Check out my course on how to be an Indpendent Consultant here:
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👉🏿📝 Show Notes & Links 📝 👈🏿
Understanding off-payroll working (IR35)
www.gov.uk/guidance/understan...
FCSA umbrella employers and limited companies
www.fcsa.org.uk/members/
GOV.UK information on the Conduct Regulations 2003
www.gov.uk/government/publica...
Contractor Calculator | Guidance on Contracting
www.contractorcalculator.co.uk/
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About:
Learning how to become an independent consultant (or contractor) may be one of the best decisions you make this year. In this video, I explain what a contractor is and how you can become one, using my journey as a high level guide. Contracting is a lucrative business model for someone who wants to make more, but develop new networks, relationships, experiences and skills throughout their career. I also explained IR35 and what in means in laymans terms. Enjoy the video!
Disclaimer: Some links in this description are affiliate links, which means I may receive a commission if you purchase from them. This helps to support my work focusing on creating everyday leaders through personal development, coaching, events and value-driven content.

[@MichaelTabirade]

Click here to join my free personal development hangout via this link: www.masteri.academy/

[@LazyWarriorV]

Ok, I don’t usually comment but I will here because of the quality and effort you put into this; 1. Very articulate 2. Well structured 3. Succinct and to the point I’m going to become a contractor in the next 8 weeks and this is a great bit of content!

[@MichaelTabirade]

Thank you very much and feel very honoured to have received such a nice and constructive comment! I'm genuinely wishing you all the best for your new journey into this space, and may it bring you great insights, positive networks and more resources to do what makes you happiest

[@ImranChaudhry]

Thanks for taking the time to make this - clear and concise. No silly background music either. I will be watching more of your videos in the series.

[@MichaelTabirade]

Thank you Imran, much appreciated for you feedback, and no problem at all 🙏🏿🙏🏿🙏🏿

[@ikeepgettingbetter]

This breakdown is fantastic, so easy to understand. Thank you so much for posting this

[@MichaelTabirade]

Thank you! I'm glad you found it useful :)

[@herrjah]

Super helpful dude, thanks. You've set things out very clearly. I've been toying with this idea for the last year or so and the recent IR35 repeal is giving me the motivation I need - research is commencing and this has been an excellent introduction!

[@MichaelTabirade]

No problem at all and thank you for the feedback! It sounds like you're on the road, and with time a decision to take the leap will happen. I'll talk a lil bit about changes to IR 35 in my next video today. Wishing you all the best 🙏🏿🙏🏿🙏🏿

[@darrenwalsh75]

Very helpful, Mike. Thank you.

[@aobaonline4808]

I also don't usually comment... but great content, really appreciate the breakdown - thoroughly enjoyed the video and your presenting style/editing. Hope the algo takes off and pushes this content more!

[@MichaelTabirade]

Thank you I appreciate your sentiment and comments! I pray so too, thank you for your encouragement and well-wishes 🙏🏿🙏🏿🙏🏿

[@areyoubreathingbyck]

Bang bang 🚀 🚀🚀😅😅😅 Great video Michael and I love your journey and the packaged overview of the world of contracting

[@MichaelTabirade]

Come on now!! Ratings where they are due! 😂😂 Thank you I appreciate your feedback and as stated before I would not be here without your initial steer into this space! You definitely went above and beyond and for that I am grateful 🙏🏿🙏🏿🙏🏿

[@unapologeticmoi]

This is so helpful and informative. Thank you

[@MichaelTabirade]

I'm really happy to hear this! Thank you and much appreciated for the comment! 🙏🏿🙏🏿🙏🏿

[@emilym4778]

Great honest informative video. Thanks for sharing your experience.

[@MichaelTabirade]

Thank you for watching it! And much appreciated 🙏🏿🙏🏿🙏🏿🏆

[@brett3554]

Nice video very well spoken, you deserve more subs. I’m sure they’ll come!

[@MichaelTabirade]

Thank you I appreciate it! I'll continue on and hopefully it'll come along the way! 🙂 Have a great day!

[@qwertysam95]

Thanks, I'm at a fullltime job in Canada and will be moving to the UK, but staying with the company and working remotely as an independent consultant. Figuring out moving and visas and work has been information overload, I have a hundred tabs of government websites open and have done too much reading, so I appreciate you compiling your experience in video form!

[@MichaelTabirade]

I'm glad to hear this! I know it's 3 months on, but hope your moving closer and closer to your goals. The best of luck with it all and wishing you the best 🙏🏿🙏🏿🙏🏿

[@neves69]

Thanks! Great video, great info

[@MichaelTabirade]

Thank you, I'm happy it was useful to you! Thank you for your comment 🙏🏿🙏🏿🙏🏿

[@vince6252]

Lovely video, thanks Michael. ⭐ I see a lot of 3 month notice periods recently. Not best for employees, especially getting into contracting. I definitely want to get into contracting. Reasons: Freedom to focus on one thing, get really good at it, so it's not too hard for me to do again. Flexibility of working time. Money.

[@MichaelTabirade]

Hey Vince, thank you for sharing your feedback it is much appreciated 🙏🏿🙏🏿🙏🏿 There definitely seems to be, and does make it feel hard to transition, as organisations tactically need a sense of security themselves, although there are always "loopholes" that are used. Those are defo options possible with contracting dependent on the type of contract you have. I'm wishing you a fruitful journey! 🙏🏿🙏🏿🙏🏿

[@gareth7676]

Really helpful and informative video Michael. Stepping into the unknown is always daunting, however after 15 or so years of FTE I think I'm ready for a change to contracting.

[@MichaelTabirade]

Wishing you the best of luck! 🙏🏿🙏🏿🙏🏿✨🚀

[@AbbasKhan-ud6mr]

Thank you for this video it was very helpful

[@MichaelTabirade]

Glad to hear it! 🙂🙏🏿🙏🏿🙏🏿

[@RifatErdemSahin]

Great video ~ coaching and contracting are both time based not assed based

[@HARPZ06]

Great video Michael thanks for sharing your experiences. I am researching into going into contracting myself. Can I be cheeky and ask who the account firm was who helped you understand the different pay structures and pay amounts (I.e. inside and outside IR35)

[@tark5963]

thank you sir!

[@shivswamy8151]

subscribed and liked !!!!

[@degend3331]

Thank you for this real advice. Please make a video about accounts and what to expect from them

[@MichaelTabirade]

No problem at all 🙏🏿🙏🏿🙏🏿 It would be great if you could elaborate if possible?

[@MichaelTabirade]

I'm wondering if you are referring to this? kzbin.info/www/bejne/p17RdqGIaL6Sg5o

[@riacharda]

Thanks for this video. I plan to become a contractor in future but had no idea where to start. I have strong work ethic, an reliable, easy to get along with and well organised. Deep down, I want to become a contractor because a previous employer screwed me over but stunting my career growth. They didn't care about my loyalty. Other than that, i love working on a variety of projects, working with companies rather than working for, being valued for your niche and having the ability to not be involved in lengthy meetings and work politics.

[@MichaelTabirade]

Thank you for your comment! Your drive, determination, experience and expertise will undoubtedly make it happen. Wishing you the best bro 🙏🏿🙏🏿🙏🏿✨

[@riacharda]

Thanks @@MichaelTabirade

[@MichaelTabirade]

@@riacharda 🙏🏿🙏🏿🙏🏿

[@ShiningStarMediaProductions]

Great work! I am creating content around my life as a contractor too 👍

[@MichaelTabirade]

Glad to hear it! I hope it's going well! 😃🚀🚀🚀✨💪🏿

[@mrs_sylvz]

Hi Michael, I'm a qualified accountant, not FCSA but I'm really considering contracting. Thanks so much for this video, I am now a new subscriber

[@MichaelTabirade]

Hey Sylvia! No problem at all and thank you for the feedback. That is not a problem, accountant contractors do not need to be FCSA approved, and usually require their typical qualifications in any other role so you are good to go! And thank you for the sub! 🙏🏿🙏🏿🙏🏿

[@mrs_sylvz]

@@MichaelTabirade thank you, I handed in my notice yesterday and I'm buzzing!!!

[@MichaelTabirade]

@@mrs_sylvz Woow! Let's Go! I'm wishing you so much success! What timing!

[@mrs_sylvz]

@@MichaelTabirade thank you 😊

[@alphastatus7706]

This video was incredibly helpful, im only 20 and looking to go into contracting soon because employment just seems to infantalise adults. Do you have any advice for dealing with accountants? I know its always good to look for one that "speaks your industry language" but any other tips would be much apprecited.

[@MichaelTabirade]

Great to hear you're interested at such a prime age. My advice would be to find an accountant that works for an FCSA-approved organisation, or one similar. In addition, be clear about your circumstances and what you are potentially looking for so that they can provide more context to you. If you know how you will be taxed i.e. being inside or outside IR35, get them to do an illustration for you. Get a clear understanding of fees and how the relationship should work up front, even if it sounds silly. Finally, be honest: the more you share about your situation and contracts, the better they will work for you. I ask my accountant A LOT of questions, and it helps me learn a great deal about business in general.

[@oinn6216]

Is it possible to work as a contractor for some UK company is I'm not a UK resident and live outside UK?

[@mr.MOMOop]

Is there any courses like diploma to be a general contractor???

[@MichaelTabirade]

This is a good question - typically there isn't. You will usually see consultant firms offer courses and programmes to their graduates which consist of a number of bespoke or procured management and leadership programmes. The simple answer is no. I have created a course on how to get into the industry which you can check out here: masterigroup.com/tic-checkout/ In the future, I will be releasing more courses centred around leadership, managing, programme and project management (dealing with change) to help contractors and professionals alike. In the meantime check out videos on youtube and try to practice what is preached. Accompany it with detailed notes to help you clarify your understanding.

[@EntireWorldfamily]

I have the same low feeling these days to come out of permanent role

[@MichaelTabirade]

It's not easy and I sympathize with you. It's a problem that is not discussed enough. A lot of people don't like their jobs, or even the people in them. A lot of people want a more aligned option. I'm not saying contracting is the complete answer but for me is a better option provided you have the right mindset for it. What did you end up doing?

[@vince6252]

I have an Uncle Bob and an Uncle Rob. 😄

[@MichaelTabirade]

😂😂🤣

[@stereo-soulsoundsystem5070]

Actually, I'm unemployed