I haven't worked so far in this tax year and am about to start a 3 month contract, after that I won't be working again. I know that the standard tax code allows you something like £5k tax free earnings each year, so lets assume that I only earn £5k in these 3 months, how can I get it tax free?
I know that any agency via PAYE will charge tax with the assumption that these earnings will continue for the whole year, but because I know otherwise is there anything I can do to avoid it? I'd prefer not to open my own ltd company, but would be ok using an Umbrella.
k thanks in advance
I know that any agency via PAYE will charge tax with the assumption that these earnings will continue for the whole year, but because I know otherwise is there anything I can do to avoid it? I'd prefer not to open my own ltd company, but would be ok using an Umbrella.
k thanks in advance
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