New Contractor

[oyster]

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]

Just declare the money on the 2003/2004 tax return.

[rooney]

re:New contractor

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]

Re: re:New contractor

Put in on tax return!