As a sole trader, the terms and conditions of the IR35 will not apply, and you'll be responsible for paying your taxes and calculating rebates through the HMRC Self Assessment form. You'll have more financial responsibilities if you decide to set up a Limited Company. Depending on your relationship with the end-user, you must also check whether your contractual projects fall inside or outside IR35. The business model is considered more tax-efficient than other structures. However, if you are only working on temporary engagements, you may prefer working under an Umbrella Company. You don't have to worry about your IR35 status as the Umbrella Company deducts PAYE tax and National Insurance before you receive your salary. If you're starting, our accountants for contractors can help you make an informed decision about your business structure. We shall select the most tax-efficient route based on your business goals and financial circumstances.