Hi All .
I'll try and keep this short and to the point . I'm a UK citizen and Spanish resident (21 years) . I've just started what's supposed to be a 6 month contract here in the UK . Obviously this will now make me a UK resident again . I signed a 6 month contract with a UK telecoms firm at the beginning of March . I didn't (and don't) have a Ltd company set up , so I just used my name and Spanish address when signing . I supplied my IOM offshore bank account for salary payments. I didn't have to provide any NI information . This contract hasn't been filed anywhere yet , so these details could be modified if necessary . The last time I contracted was 20 years ago . At that time I did have a Ltd company set up , but I closed it when I went full-time in Spain in 2000 . When I started at the beginning of this month an old colleague of mine mentioned signing up with an "umbrella" company . I spoke to them (Target) . The outcome of that conversation was that they would pay me minimum wage and the rest in a sequence of "loans" . They said that my take home would be around 83% . I started down that road , but the telecoms company that I signed with (only 6 people) weren't really happy about having another company in the middle . They had never worked with umbrella type companies and it was dragging on so I decided to bin that option for the time being . So , I'm back to where I started . I'm in the process of hiring an accountant at the moment , if required .
OK . That's the story . Now here's my question . Just as an example . Let's say I make £6k a month . As I started in March I will be under the £11k tax limit for this tax year (16/17) . So I don't think I'll have to pay any tax on my return ? In the 2017/18 year I'll make £30k . 11k of that will be within the single person's allowance , and I'll need to pay 20% on the other £20k , which is more or less what I would have had to pay with the umbrella option anyway . I think that's right ?
Anyway . As I say . That's where I am . I was really just looking for some advice . I plan on returning to Spain once I finish my contract here . I haven't been paid yet , although I will be this Friday , once I submit my time sheets .
Any help , or advice would be appreciated .