3 Things to Consider When Contracting Abroad 

Contracting abroad – what do you need to know?

Grasping the opportunity to contract abroad opens a whole new doorway to potential success. In this digital age, it’s become easier to consider and find work abroad which can be massively beneficial for those seeking to expand their experience or look further than their current contract pool. 

Let’s take a look at three essential things to consider before contracting abroad.

Staying Tax Compliant

Tax compliance when working overseas is fundamental and it can feel overwhelming to know what the rules are and how they will impact you – particularly as legislation is prone to change. 

The most important factor in successfully contracting abroad is ensuring that you’ve done your research. It may seem obvious but being underprepared and unsure of what steps you need to take and how will not only negatively impact your experience of contracting abroad, but it could lead to potential complications also. 

Make sure that any agency you use to find international contract work is tax compliant themselves and that they have a good understanding of how exactly to support your transition into working in a new market. 

Working with a reputable partner is the easiest way to get around this issue, so try not to jump at the first agency or offer. Remember, IR35 can follow you across the border, so it’s imperative you work with an agency or company that is proactive about ensuring tax compliance. 

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Finding Work in a New Country

The very start of the process is figuring out what country you’re hoping to branch into and in what field. Consider what kind of work really inspires you, what kind of experience you want to create through contracting and how you envision the role going (as well as ensuring you understand the tax implications and any visa requirements!).

Once you have this baseline, you can begin to formulate a plan for breaking into contract work abroad. Remember, the internet is one of your best resources when looking for work. Many online reports break down what countries are best for what sectors, so take some time to research and compare legislation and culture to find what works best for you.

Keeping Up with Financial Admin

Contractors are responsible for their own accounting or bookkeeping. Taxes will need to be filed and paid for regarding any income you make from a client, and you will also need to pay insurance to protect yourself.

All of this will need to be in line with whatever tax legislation is in place for whichever country you have decided to operate in. 

This is where a reputable umbrella company can really come in handy, as all the financial responsibility is taken on by them and your only focus needs to be producing high quality work that you’re proud of. 

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