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contract work and pay/tax

calex71 · 2007-11-06 17:11:25

just moving into a contract job with a daily rate, agency told me that either they can pay me (quickest way) or i can go through and umbrella company that will sort all the tax etc out for me (however it takes 20 days longer to be paid) Has anyone any experience with this and can point out the les obvious pro's and con…

06-11-2007 5:11pm

#1

calex71

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just moving into a contract job with a daily rate, agency told me that either they can pay me (quickest way) or i can go through and umbrella company that will sort all the tax etc out for me (however it takes 20 days longer to be paid)

Has anyone any experience with this and can point out the les obvious pro's and con with this ????

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Comments

#2 06-11-2007 5:32pm

penexpers

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If you go through the umbrella company they will do all your tax etc and accounts.

If you go yourself you'll have to sort out your own tax and accounts and all that. You might end up need to emply an accountant.

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#3 07-11-2007 12:34am

mick.fr

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Umbrella company (As an employee) is the best way to lose a lot of money everyday.
You should go with an umbrella company where you will be a director. Then you can expense a lot of things and save a lot of taxes.

This is something the agency should have told you. So this is bad one.

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#4 13-11-2012 4:54pm

fluff_daddy

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mick.fr wrote: »

Umbrella company (As an employee) is the best way to lose a lot of money everyday.
You should go with an umbrella company where you will be a director. Then you can expense a lot of things and save a lot of taxes.

This is something the agency should have told you. So this is bad one.

Not sure if I can add a reply to a post this old but anyone have any more information on this post. Self Employed Employee vs Director

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#5 13-11-2012 4:59pm

Eoin

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Locking the old thread - this forum might be a better match:
Entrepreneurial & Business Management

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This discussion has been closed.