Receiving wages from a US company, any decent banks/money transfer services?

[jamesbrown]

Thanks Fred!

I signed up for transferwise which impressed me at the intuitiveness and ease of it all, i'll keep xe in mind as a backup too

BTW, I forgot to ask how you organised things. Did you go the DPNI/PAYE route in the end?

[swissdt]

BTW, I forgot to ask how you organised things. Did you go the DPNI/PAYE route in the end?

Thanks for asking James, DPNI seemed perfect UK end, easy to setup and I found a handful of accountants who do it for a raft of clients already, all who had no experience in the US side. It would have to be feasible for the US company from a logistics, cost, and paperwork standpoint.

The US company asked their HR and payroll departments, and they've pretty much said no to it and want to pay me as a contractor, be it a ltd or sole trader.

I did some more work myself to see if I could see an easy way for the US company, speaking to over ten very qualified US tax accountants based in the US, and the IRS a few more times. There was a lot of payroll costs involved, holding back 15% of monies and claiming back through the IRS, compliance, paperwork, the list just went on and on, I wish I would have written it all down, but on the phone it was a mind boggling array of faff, huge amount of hoops to jump through and cost the US company would incur. Every accountant I spoke to advised just to setup my own UK company and bill the US company with the invoice, then they can pay it by bacs/wire/(transferwise now )

So 3 weeks away yet, but leaning again towards sole trader, for sheer simplicity

[jamesbrown]

Thanks for asking James, DPNI seemed perfect UK end, easy to setup and I found a handful of accountants who do it for a raft of clients already, all who had no experience in the US side. It would have to be feasible for the US company from a logistics, cost, and paperwork standpoint.

The US company asked their HR and payroll departments, and they've pretty much said no to it and want to pay me as a contractor, be it a ltd or sole trader.

I did some more work myself to see if I could see an easy way for the US company, speaking to over ten very qualified US tax accountants based in the US, and the IRS a few more times. There was a lot of payroll costs involved, holding back 15% of monies and claiming back through the IRS, compliance, paperwork, the list just went on and on, I wish I would have written it all down, but on the phone it was a mind boggling array of faff, huge amount of hoops to jump through and cost the US company would incur. Every accountant I spoke to advised just to setup my own UK company and bill the US company with the invoice, then they can pay it by bacs/wire/(transferwise now )

So 3 weeks away yet, but leaning again towards sole trader, for sheer simplicity

Thanks for taking the time to report back.

I did wonder whether sole trading would end up being the simplest route for you.

Glad you're on the right track and good luck with it all.