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oyster
17th January 2004, 10:16
Hi,

I have just been awarded an 8 day contract. Unfortunately that will probably be the limit of my contracting for the year.

What is the best method of getting paid?

(a) Start a limited company? Although this involves accounting costs etc.

(b) Self-employed?

(c) Umbrella? How does this work.

Thank-you for your help.

zeitghost
17th January 2004, 17:20
Just declare the money on the 2003/2004 tax return.

rooney
20th January 2004, 11:09
For such a short term deal you can use an umbrella and they will just charge you a fixed fee for the week/month. They will invoice the client etc... and then payroll the money, minus their fee and NI/PAYE of course, into your bank account.

The ones generally recommended on this forum are Parasol IT and Orange Genie.

OrangeHopper
20th January 2004, 13:52
Put in on tax return!