I'm brand new to the contracting world and, to be honest, it's been a bit of a misadventure. I fell into it actually as I was really looking for a new full time job, more as that's what I've always done than by design, and I was actually called by a consultant at a recruitment firm.
I was approached for a Business Analyst job for a financial institution by a recruiter. They had an interviewee drop out and called me asking if I'd be interested. I explained I was an IT engineer / manager but they assured me my skills would match up. I had nothing better to do that day as I was still looking for work at the time so I went along with very low expectations.
I arrived at the interview early but my interviewer was about 45 minutes late which meant I had sat there waiting for around an hour. In this time the next hopeful turned up and we got to talking. They had experience in the financial world and so I felt I was really out of place.
The interview went extremely well, despite the interviewer being quite harassed, and I went to great pains to stress my background in IT. He told me they had IT projects and I'd likely fit in fine there and I was offered the role a few days later.
After a lengthy process to be checked and get compliance paper work and e-learning passed I was in.
I used paystream because the recruiter suggested them as their preferred partner and set up a Ltd. Company. All was dealt with and despite some carry on to get everything up and running I was sorted.
After I got my laptop partially built and introduced to my manager we popped into a meeting to discuss things. I explained my experience and we discussed the project in detail. At this point I realised the position they'd placed me in had absolutely NOTHING to do with IT. I couldn't believe it! I was working in a role about financial regulation and changes specifically with the regulation of mortgages. Having no experience in the financial world I very much struggled with this but I soldiered on. It turned out as I joined this project was running several weeks behind schedule and it was on a tight deadline due to a government set date to be compliant by. The team were under tremendous stress to get the job done.
By week 5, despite having picked up a huge amount of the industry very quickly, they decided they needed to find someone with more industry experience and let me go. I genuinely think If I had another couple weeks I'd have been fine, but well these things happen.
So by this point I had been looking for looking for a role for a few months before getting this one and then unemployed again. I found a full time role a month or so later and am now in full time PAYE employment.
Now however, I still have the Ltd. Company to deal with. I stepped away from Paystream once I lost the contract and so I need to sort thing all out. Part of me wants to keep it going so I can use it for adhok consultancy work and the like but the numbers I'd be pushing through would be tiny in all honesty. How easy is this to do?
Then, what steps do I need to take to close this beast down? I have kept the amount of money back for tax reasons but I'll need to pay that, so I'll need to figure out how to do that too.
Any advice would be greatly received. Is there some sort of online guide for newbies like me?