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How to become a consultant (independent contractor) in your field with experience you already have! #money #work #consulting #boss #business #job #career #strategy #howto #London #growth #DianaDimofte #confidence #mindset #UK Thank you for watching. Please leave me a comment with any questions and topics you would like me to discuss in my next videos. If you like this video I have a few other videos in the "Become a consultant (Independent contractor) in your field today with skills and work experience you already have" series which you may like (and I am going to create others). Here is the link to the playlist: • Become a consultant (Independent contracto... Start with skills and work experience you already have to become a consultant in your filed or an independent contractor. Advertise your cv on job platforms and apply to jobs you think you’d like to do and be good at. If you are active on these job platforms, you may get called for other jobs too that you may have not thought of but are suitable for in terms of skills and work experience. Apply for contract roles at many different day rates (or hourly rates) and see which ones you get contacted for interviews or more information. When asked about your current salary, know that it’s up to you if you answer the question. How you get paid impacts how much money you get to keep after taxes. As a rule of thumb, if you’ll earn below £200K/year I suggest it is best to get paid on PAYE or Umbrella day rate basis and if you’ll earn than £200K/year then maybe it is a good idea to set up as a consultancy (incorporate your management consulting business as a limited company in the UK). Umbrella rates are misleading- they have employer taxes included in the day rate on top of your own taxes, which means in the end, you are better off with going with a PAYE day rate contract if given an option between a PAYE day rate and an Umbrella day rate contract. You do not need business insurance unless you set up as a company. Business insurance monthly costs can be very affordable up to £25/month. I suggest you get a business insurance plan where you can pay monthly so you can deactivate when not needed. Accounting costs can also be very low and if you run your consulting business as an incorporated limited company, then I suggest that you chose an accountant that can do your annual company financial statements submissions including corporation tax and VAT returns as well as your own annual tax self assessment and submission. Schedule: I post at least 1 new video per week, usually on a Thursday and/or Saturday. Affiliate Links: Below I have included affiliate links to a few useful services and products you may be interested in. If you purchase a product or service through one of them, I will receive a commission (at no additional cost to you). I only ever endorse products that I have personally used and benefited from personally. Thank you for your support! The Accountancy Partnership- great accounting services for consultants and small business owners 10% off first year’s fee https://www.theaccountancy.co.uk/land... BullionByPost - physical silver and gold bullion bars and coins You receive a free 1oz Silver Britannia coin when you sign up and spend over £250 www.bullionbypost.co.uk/accounts/login/?referral_code=OJ8V8OGY BullionVault - investment grade bullion online at a great price https://www.bullionvaultaffiliate.com... Currencies Direct - great FX rates (especially for high value transactions above £10K) https://www.currenciesdirect.com/en/?... Wise - great FX rates, bank accounts in multiple currencies and debit cards https://wise.prf.hn/l/VXDLoVk Music in this video: –––––––––––––––––––––––––––––– Magic [LoFi Beat/Chill] by Le Gang / thisislegang Creative Commons — Attribution 3.0 Unported — CC BY 3.0 Free Download / Stream: https://bit.ly/magic-lofi-beatchill Music promoted by Audio Library • Magic [LoFi BeatChill] – Le Gang (No Copyr... –––––––––––––––––––––––––––––– The information provided is for convenience only.