short contract question

[catboy]

hi guys,

my last contract was long and through an umbrella, i'm now doing a 7-dayer and i'm halfway through it and don't have a contract set up (perhaps silly i know, but it was a quick last-minute gig).

i'm just wondering if it is worth me not bothering to put this through the umbrella and getting paid direct and going as a sole-trader for this gig? can i do that?!

also, what are my tax options here!? hint hint ;-)

[blacjac]

hi guys,

my last contract was long and through an umbrella, i'm now doing a 7-dayer and i'm halfway through it and don't have a contract set up (perhaps silly i know, but it was a quick last-minute gig).

i'm just wondering if it is worth me not bothering to put this through the umbrella and getting paid direct and going as a sole-trader for this gig? can i do that?!

also, what are my tax options here!? hint hint ;-)

1. Declare it on your SA at year end, pay the tax due.
2. Don't declare on your SA at year end, go to jail.

HTH

[catboy]

i think i prefer option 1!

what is 'SA'?

[blacjac]

Self Assesment

[catboy]

doh, ok, thanks!

[bledubd]

catboy it might be wise for you to use the umbrella till you sort out all your basic ltd stuff. don't create head aches for your self.

[Hex]

If they're paying you direct then you can probably just treat this as self employed earnings and put it on your SA as such at the end of the tax year. This will probably be a better option (financially) than paying it all as PAYE through your umbrella.

There is no need to worry about Limited Companies etc. Sole Trader (self employed doesn't require a Limited Company). As long as the client is happy to pay you direct then you can do it as self employed.