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New Job: Agency Worker or Contractor?

  • 18-08-2019 7:00pm
    #1
    Gear9992
    Registered Users, Registered Users 2 Posts: 121 ✭✭


    Hi all,

    I'm currently in the interview process for a new contractor/hourly-rate role through a recruitment agency. The recruitment agent mentioned that if I get the job, I'll have the option of being paid by the recruitment agency or I can be an independent contractor. I'm trying to figure out which option is best in terms of minimizing my tax due.

    As far as I can tell, I have 3 options (please correct me if I'm wrong):
    1. Get paid through recruitment agency who will sort out my tax (PAYE, USC, PRSI) and charge me for fee for doing so, I assume.

    2. Get paid through Umbrella Company through Contracting Plus, Icon Accounting, etc.

    3. Get paid through my own company that I will have to setup with the help of an accountant.


    My question is, what are the tax differences between these 3 options? I also read that if I become a contractor, I won't be able to seek Jobseeker's Allowance if I become unemployed because I won't be making the same PRSI contributions, is this correct?


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