Hi,
Hope someone can help as I'm at a loss.
I'm a social worker contracting for a local authority. My day rate is currently £175 but about to go up to £198.
I'm currently using paystream as I was signed up by the guys who got me the role.
Having looked at my payslips I seem to be losing a considerable amount. With expenses I pull back around 650 after ni. At present they aren't taking paye as I'm below threshold.
I'm also losing student loan payments weekly. Happy to pay but adding up quick.
Basically I'm not sure if I'd be better through an ltd. we have one set up and my partner currently does some freelance journalism (around 500 PCM) on top of his paid work. Could he invoice this through the company as we are both directors?
I'm not sure if the umbrella is the best way to work or if we should get at accountant to help us. I'm worried that we could end up in trouble if when I hit the paye threshold as we pay a childminder 300 a week.
How can I best maximise my take home pay? Am I best paying pay stream or getting someone in to help me?
Any advice appreciated!
Hope someone can help as I'm at a loss.
I'm a social worker contracting for a local authority. My day rate is currently £175 but about to go up to £198.
I'm currently using paystream as I was signed up by the guys who got me the role.
Having looked at my payslips I seem to be losing a considerable amount. With expenses I pull back around 650 after ni. At present they aren't taking paye as I'm below threshold.
I'm also losing student loan payments weekly. Happy to pay but adding up quick.
Basically I'm not sure if I'd be better through an ltd. we have one set up and my partner currently does some freelance journalism (around 500 PCM) on top of his paid work. Could he invoice this through the company as we are both directors?
I'm not sure if the umbrella is the best way to work or if we should get at accountant to help us. I'm worried that we could end up in trouble if when I hit the paye threshold as we pay a childminder 300 a week.
How can I best maximise my take home pay? Am I best paying pay stream or getting someone in to help me?
Any advice appreciated!
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