Beacon Interim Management Ltd (Principal Office), 4th Floor, Clayton House, 59 Piccadilly Manchester M1 2AQ. Reg No: 5860680
An approved supplier to the Government Procurement Service (GPS), the national procurement partner to the UK Public Sector
and an approved supplier of Interim Managers through the North West Collaborative Procurement Hub (NWCPH).
How to Start a Career as an Interim Manager
Getting the basics right at the start of your Interim management career is essential if you are to approach what is a very competitive market place with any degree of credibility. Our Career Induction pack will guide you through the essential background and structure of the Interim Management sector.
Our Interims are required to trade through a Limited Company and we contract with that Limited Company for the executive services associated with an assignment.
An alternative to setting up and operating your own Limited Company is to operate through an Umbrella Company Service; a low cost and zero hassle alternative.
Professional Indemnity insurance is mandatory for all Interim Managers and typically a service provider will require you to have a minimum cover of £250k.
We recommend Simply Consultants as a PI provider. They are good value and are able to provide flexible policies on line over 3, 6,or 12 months.
The tax rules governing Interim Executive Managers operating through limited companies are referred to as IR35 (Inland Revenue regulation No 35).
The basis of this regulation is to ensure that you take the correct proportion of your fee income as PAYE v/s dividend. Our career induction pack contains a full explanation and guidance on tax and how to maximise your income stream as an interim manager. It is recommended that all Interim Managers take professional advice regarding their tax affairs.
The Interim Management industry is regulated under “The Conduct of Employment Agencies and Employment Businesses Regulations 2010”. This legislation allows limited company contractors to opt out of the legislation. The rate of pay available to a manager who has opted out will be greater than that available to one who is opted in. Guidance on opting in or out of the regulations is available from the DTI.
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