Building great futures is at the heart of what we do, and for many senior professionals, that future involves the transition to contracting. As a Trusted Expert in recruitment, Oliver James provides the clarity and demonstrable results you need to navigate this career-defining move.
The current landscape of 2026 presents a significant opportunity. Demand for specialist talent in Financial and Professional Services remains high as firms navigate rapid digital transformation, AI adoption, and evolving regulatory standards.
Is 2026 the right time for your move to contracting?
While the allure of higher earning potential and professional variety is strong, the best time to move depends on your individual circumstances and market readiness.
- High Demand for Specialized Skills: The finance sector is currently facing a widening talent deficit, particularly in AI, cybersecurity, and risk and compliance. If your primary skillset aligns with these areas, you may command a premium day rate.
- Regulatory Changes and IR35: New IR35 threshold changes taking effect on 6 April 2026 mean approximately 14,000 additional companies will be classified as “small” and exempt from off-payroll working rules. This shift potentially allows more contractors hireable by these firms to determine their own status and operate Outside IR35.
- Peak Hiring Cycles: Accountancy and finance often see a surge in interim demand ahead of year-end as businesses strive to meet seasonal deadlines and regulatory requirements.
Key considerations before leaving your permanent role
Contracting offers freedom, but it requires a strategic mindset and a focus on measurable results.
- Hit the Ground Running: Unlike permanent roles that allow for long integration, clients pay a premium for contractors to deliver rapid impact. You should be an 80% to 90% fit for the role from day one.
- Financial Buffers: Earning potential may be 50% to 100% higher than permanent salaries, but you must account for “quiet periods” between assignments. Ensure you have a stable cash flow and a financial buffer to support you during slower times.
- Loss of Benefits: Permanent jobs provide essential benefits like pension schemes, private healthcare, and paid leave. As a contractor, you are responsible for managing these yourself.
- Professional Qualifications: Ensure you have all relevant industry qualifications and a bachelor’s degree at minimum before making the leap.
Choosing your operating model: PSC vs. Umbrella
Your chosen setup will have significant implications for your income and administration.
| Feature | PSC (Limited Company) | Umbrella Company |
|---|---|---|
| Best For | Long-term career contractors; Outside IR35 roles[cite: 174, 187]. | Short-term assignments (6-12 months); Inside IR35 roles[cite: 174, 187]. |
| Control | High control over income, expenses, and tax affairs[cite: 139]. | Minimal control; net salary paid via PAYE[cite: 140]. |
| Admin | Significant; requires managing accounts and filings[cite: 181]. | Low; the umbrella acts as your employer for payroll[cite: 140]. |
| Tax Efficiency | Highly efficient through salary and dividend combinations[cite: 147]. | Standard PAYE rates; includes statutory benefits[cite: 140]. |
Next steps for aspiring finance contractors
Whether you are seeking your first interim assignment or looking to optimize your current operating model for the 2026 regulatory changes, our team provides the expert guidance needed to ensure your success.
Connect with our specialist recruitment team today to explore high-impact contract opportunities in Financial and Professional Services.
