What you need to know about subcontracting

As a freelancer and client of one of our accountants for freelancers here at Freelancer Accounting (http://www.freelanceraccounting.com), chances are that you’ll be used to adopting flexible approaches to assignments, based on such factors as your current workload and personal circumstances. Certainly, there are few freelancers who haven’t at least considered subcontracting – whether doing it for someone else or getting another person to subcontract for them. But what are the advantages and disadvantages of subcontracting?

It’s possible that you will have considered finding a subcontractor if an opportunity suddenly arises for work that you don’t have the free time to complete yourself, given other ongoing projects. Of course, you could always turn down the offer of work, but in the case of many clients, a similar opportunity may not arise from them again. But if you try to tackle the work yourself despite your crowded schedule, it’s very likely that the results won’t be up to standard.

That’s why, especially if the client is a massive one that you value your relationship with and that is offering money that you just can’t turn down, you might be tempted to bring in a subcontractor. Certainly, this is something that many of the clients of our contractor accountants do very successfully, as it lifts pressure off them and even places them in a position to attract bigger jobs than previously. There is, however, the potential for more stress, as you’ll suddenly be a client yourself and need to manage your subcontractor to ensure that they produce work of a satisfactory standard.

This project management side of things is something that our small business accountants always urge clients to bear in mind when they are negotiating fees. You might need to learn to manage staff, having never done it before. As so often, though, thorough preparation makes a big difference. Before you take on a worker, peruse their CV and do a bit of other research on them. Ask for samples of previous work, and pay attention to the seemingly small things that could indicate your likely experience of working with them – such as how long they take to answer an email.

Alternatively, of course, you may fancy becoming a subcontractor yourself, which allows you to take on grander projects than you might have previously been able to attract on your own. Doing this can be a good experience if you want to move up another level, but on the minus side, it’s likely that you won’t receive credit for the work. Earnings may also be lower.

Nonetheless, as a client of one of Freelancer Accounting’s (http://www.freelanceraccounting.com) accountants in Guildford, you may feel that the downsides are a worthwhile price to pay for the chance to take on more intriguing and prestigious assignments. Contact us now for tailored advice on your accounting and tax affairs as a freelancer.

Editor’s Note: Freelancer Accounting (http://www.freelanceraccounting.com) is represented by the search engine advertising and digital marketing specialists Jumping Spider Media. Please direct all press queries to Louise Byrne. Email: louise@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.