One off contract

[Bagpuss]

I have a friend who works for a university. He has been offered a one off piece of consultancy work which will last a few weeks.



I would have thought some sort of umbrella, but I've not heard of ones that do such short term arrangements and starting a Ltd is overkill!

What is the best way for him to clear this money?

[tim123]

Most umbrellas will do short term placements of a few weeks.

You just have to avoid the ones that don't (i.e charge a minimum fee
of six months or whatever).

tim

[Bagpuss]

Cheers fella!

The university has some arrangement where they will act as the company but they charge 18%!!!!!!!!

[rootsnall]

I think Parasol have a monthly charge, I'd give them a ring and ask, I'm Ltd again but I'm sure I did a few weeker thru them a while back with no extra charges.

[OrangeHopper]

If this is a one off there is no reason why he shouldn't just declare the extra income on his tax return and pay the due tax.

Obviously, the risk is he fails to save for the tax bill.

Have a word with an accountant.

[Bagpuss]

How would that work for NI and expenses though?

[hattra]

Why not call the IR advice line and ask them? Make sure you wear a disguise, of course

[Bagpuss]

:-O I don't contact them!

[Mustang]

Talk to revenue (HMRC) they really dont bite.....!! ;-)