How do I get into senior finance interim work if I have only held permanent roles?
Start by identifying the situations where you can add immediate value.
Employers usually hire senior finance interims to solve a specific problem, provide leadership during change or cover a critical gap. Relevant experience might include year-end delivery, systems implementation, restructuring, audit preparation, business partnering, process improvement, integration work or supporting a transaction.
Your CV should focus less on day-to-day responsibilities and more on measurable outcomes. Show where you improved reporting, reduced costs, strengthened controls, led teams or delivered projects to deadline.
You should also be clear about the types of assignments you are targeting, your availability and the day rate you are seeking. Moving into interim work can require flexibility at first, but a strong track record of delivery can quickly build credibility.
What types of senior finance interim roles are available?
Interim opportunities exist across both financial control and commercial finance.
Common assignments include Interim Finance Director, Interim Financial Controller, Interim Head of Finance, Interim FP&A Manager, Interim Commercial Finance Business Partner, Interim Group Reporting Manager and Interim Transformation Lead.
Businesses may recruit an interim to cover maternity leave, support a year-end or audit process, improve management information, lead a systems implementation, manage a restructure or provide additional leadership during a period of growth or change.
The strongest interim candidates can quickly understand the business, establish priorities and deliver results with limited supervision.
Do I need previous interim experience to secure an interim role?
Previous interim experience can help, but it is not always essential.
Employers are primarily looking for evidence that you can become effective quickly, work independently and deliver against a defined objective. Experience of joining a business during change, leading projects, managing demanding deadlines or stepping into unfamiliar environments can all demonstrate this.
You will need to reassure employers that you are comfortable with ambiguity, able to build relationships quickly and willing to be hands-on where required.
For your first interim assignment, being flexible on sector, location, duration or scope may help you secure the opportunity that establishes your interim track record.
What makes a successful senior finance interim?
Successful interims combine strong technical or commercial finance skills with adaptability, confidence and sound judgement.
You need to understand the brief quickly, identify the most important issues and avoid becoming distracted by work that sits outside the assignment. Strong stakeholder management is equally important, particularly when working with board members, investors, auditors, operational leaders or existing finance teams.
The best interims are also sensitive to the environment they are joining. They make an impact without creating unnecessary disruption, support permanent employees and leave the business in a stronger position at the end of the assignment.
How should I structure my CV for interim finance roles?
An interim CV should make your value clear quickly.
At the beginning of your CV, include a short profile outlining your professional qualification, areas of expertise, typical assignments and the types of businesses you have supported.
For each role, explain why you were appointed, what you were expected to deliver and the outcome. Quantify achievements wherever possible, such as reducing the month-end close, improving cash flow, delivering a systems implementation or completing an audit on time.
You should also clearly show assignment dates, availability, location flexibility and whether each position was permanent, fixed-term or interim.
How is an interim day rate calculated?
Day rates vary depending on the seniority of the role, the complexity of the assignment, the required expertise, location, market conditions and whether the engagement is inside or outside IR35.
When considering a rate, remember that interim professionals do not usually receive the same benefits as permanent employees. You should take account of gaps between assignments, holiday, pension contributions, insurance, professional costs and taxation.
It is important to assess the full assignment rather than focusing only on the headline rate. A slightly lower rate may still be attractive if the contract is longer, offers greater flexibility or gives you valuable experience.
What does it mean to be paid through an umbrella company, and what is deducted from the assignment rate?
When you work through an umbrella company, the umbrella becomes your employer and pays you through PAYE. The recruitment agency or end client pays the umbrella an assignment rate, which is not the same as your gross pay rate.
Before your gross pay is calculated, the umbrella will normally deduct employment costs from the assignment rate. These may include:
- the umbrella company’s margin
- employer’s National Insurance
- the Apprenticeship Levy
- employer pension contributions, where applicable
- holiday pay, depending on whether it is paid alongside your wages or accrued separately
The amount left becomes your gross taxable pay. Income tax, employee National Insurance and any personal deductions, such as pension contributions or student loan repayments, are then taken from that figure to calculate your net take-home pay.
For example, an advertised umbrella rate of £500 per day does not mean you will receive £500 per day before personal tax. It includes the costs the umbrella must meet as your employer.
Before accepting an assignment, ask for a Key Information Document and an illustration showing the assignment rate, employment costs, gross pay and estimated take-home pay. This will help you compare the opportunity accurately and understand exactly how your pay will be calculated.
For more detailed information on Umbrella Companies please see out separate guide which also contains our current PSL: Umbrella Guide for Temps
What is IR35 and why does it matter for interim finance roles?
IR35 is legislation used to determine whether a contractor working through an intermediary, such as their own limited company, should be taxed in a similar way to an employee.
For most medium and large private-sector organisations, the end hirer is responsible for assessing the assignment and issuing a Status Determination Statement. Since this responsibility shifted to hiring organisations in April 2021, we have seen slightly fewer assignments determined as outside IR35, as some businesses have taken a more cautious approach. However, genuine outside-IR35 opportunities do still exist.
We recently placed an interim professional on a monthly rolling assignment with a food and drink FMCG organisation in Greater London. They were engaged to provide specialist tax compliance services for a specific project because the client did not have the necessary expertise in-house and needed an external service provider to deliver the work.
An arrangement like this may be considered outside IR35 where the contractor operates independently, provides a defined service and is not subject to the same level of supervision, direction or control as an employee. However, no single factor determines IR35 status. The written contract and the day-to-day working practices must both be assessed properly before the engagement begins.
An inside-IR35 assignment will usually be paid through PAYE or an umbrella company, while an outside-IR35 assignment may allow you to provide services through your own limited company. As the determination can significantly affect your take-home pay and working arrangements, make sure you understand the status before accepting an assignment and consider taking independent advice from an accountant or tax specialist.
If I am operating outside IR35, do I need to set up a limited company and take out insurance?
In most cases, an outside-IR35 assignment will require you to provide your services through your own limited company, often referred to as a Personal Service Company. However, the engagement structure will depend on the client, agency and contract.
You can register a limited company yourself through Companies House, or use an accountant or company formation service to help you set it up. Some umbrella providers also offer, or are linked to, limited-company accountancy and formation services. They will normally charge for this support, so make sure you understand and compare their fees before proceeding.
Running a limited company brings additional responsibilities, including maintaining company records, filing annual accounts and tax returns, and paying Corporation Tax on profits. It is therefore worth speaking to an accountant before setting one up.
Clients and recruitment agencies will also commonly require contractors to hold appropriate business insurance. This may include professional indemnity insurance, which can protect you against claims relating to your advice or services, and public liability insurance. Employers’ liability insurance may also be required if your company employs anyone, although some single-director companies may be exempt.
The exact requirements should be confirmed before the assignment begins, as they will normally be set out in your contract. Having a limited company and insurance does not, by itself, make an engagement outside IR35 - the contract and the actual day-to-day working practices must still support the status determination.
How quickly are senior finance interims expected to start?
Interim recruitment processes often move quickly.
Many businesses begin their search because they have an immediate operational problem, a sudden departure or a time-sensitive project. Employers may therefore prioritise candidates who are available immediately or at short notice.
Keep your recruiter updated on your availability, other interview processes and any planned holidays. You should also have references, right-to-work documents and company or umbrella arrangements ready where possible.
Being available quickly can strengthen your position, but businesses will still expect you to complete an appropriate interview and compliance process.
How can I stand out in a competitive interim finance market?
A broad job title such as Finance Director or Financial Controller is rarely enough on its own.
Be clear about the problems you solve. This could include turning around an underperforming finance function, improving cash visibility, supporting a private equity-backed business, preparing for sale, integrating an acquisition, strengthening controls or leading an ERP implementation.
Keep in touch with specialist recruiters even when you are working, maintain strong references and regularly update your CV with completed outcomes. A reputation for reliability, transparency and delivery is one of the most valuable assets an interim can build.
Should I specialise in a particular sector or type of assignment?
Specialisation can make you more attractive for assignments where the employer needs someone who already understands the environment.
This can be particularly valuable in private equity-backed businesses, listed companies, regulated sectors, high-growth organisations, manufacturing, technology or professional services.
However, being too narrow may reduce the number of opportunities available to you. Many successful interims combine a core specialism, such as transformation, controls, FP&A or transactions, with the ability to work across several sectors.
The right balance is to be known for something specific while still showing that your skills are commercially transferable.
Can an interim role lead to a permanent position?
Yes, some interim assignments do lead to permanent opportunities. This may happen because the business decides it needs the role on a long-term basis, the scope expands, or both sides feel there is a strong cultural and professional fit.
We recently placed an Interim Finance Director into an FMCG organisation near Reading to cover a nine-month project. It was the candidate’s first interim assignment, but by the end of the project they were offered the vacant permanent role. It is a good example of how temp-to-perm opportunities can exist at every level of seniority.
However, you should not assume that an interim role will become permanent. Before accepting, be clear about whether the assignment is purely temporary, has the potential to convert, or is being used while the business conducts a permanent search.
If you are open to a permanent role, let your recruiter here at Wade Macdonald know from the outset.
How do I manage gaps between interim assignments?
Gaps are a normal part of an interim career and do not necessarily reflect negatively on your experience.
Use the time to reconnect with your network, update your CV, speak with specialist recruiters and maintain your technical knowledge. You might also complete relevant training, support a consultancy project or attend industry events.
Financial planning is equally important. Interim professionals should prepare for periods without income rather than feeling pressured to accept the wrong assignment.
Employers are generally comfortable with reasonable gaps, particularly when you can clearly explain how you used the time and why each assignment ended.
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