Hi,
I'm a Swedish digital designer, and I came to London at the end of January to work at a 3 month accelerator program for startups. During the program, I earned £1000 per month, so £3000 in total, and I was hired by the accelerator. Since my work period didn't exceed 3 months and since Sweden and UK is in the EU, I didn't have to register for a National Insurance Number.
Now that the program has finished, I'm going to work as a contractor for two months for one of the startups in the program before going back to Sweden at the end of June. I get paid £4000 per month through Transferwise, so my total wage for the two months (and taxation year) will be £8000. Since I'm now staying for more than 3 months in total in the UK, I have registered and received a National Insurance Number.
I have the following questions:
- Do I have to notify my previous employer (the accelerator program) of my recently received National Insurance Number and then they will have to register my salaries since I'm now staying for more than 3 months?
- If I have understood it correctly the personal allowance is £10600. Since a new taxation year began on April 6th, my total earnings (if the salary from the accelerator program is included) for the new taxation year will be £9000. So since I won't exceed the personal allowance, do I even have to register as a contractor in the UK at all?
- If I do have to register as a contracter, what's the best in my case, to register as a sole trader or a limited company?
- Is it okay to get paid through Transferwise to my Swedish account, or do I have to set up a UK bank account?
- Do you have any other suggestions or advice on how I should go about contracting in the easiest way? Since it's only 2 months it feels stupid to go through too much hassle for this. I have considered an umbrella company but I think I loose to much money on doing that.
I have searched the forum but can't find an answer to my specific case, so any help is appreciated!
I'm a Swedish digital designer, and I came to London at the end of January to work at a 3 month accelerator program for startups. During the program, I earned £1000 per month, so £3000 in total, and I was hired by the accelerator. Since my work period didn't exceed 3 months and since Sweden and UK is in the EU, I didn't have to register for a National Insurance Number.
Now that the program has finished, I'm going to work as a contractor for two months for one of the startups in the program before going back to Sweden at the end of June. I get paid £4000 per month through Transferwise, so my total wage for the two months (and taxation year) will be £8000. Since I'm now staying for more than 3 months in total in the UK, I have registered and received a National Insurance Number.
I have the following questions:
- Do I have to notify my previous employer (the accelerator program) of my recently received National Insurance Number and then they will have to register my salaries since I'm now staying for more than 3 months?
- If I have understood it correctly the personal allowance is £10600. Since a new taxation year began on April 6th, my total earnings (if the salary from the accelerator program is included) for the new taxation year will be £9000. So since I won't exceed the personal allowance, do I even have to register as a contractor in the UK at all?
- If I do have to register as a contracter, what's the best in my case, to register as a sole trader or a limited company?
- Is it okay to get paid through Transferwise to my Swedish account, or do I have to set up a UK bank account?
- Do you have any other suggestions or advice on how I should go about contracting in the easiest way? Since it's only 2 months it feels stupid to go through too much hassle for this. I have considered an umbrella company but I think I loose to much money on doing that.
I have searched the forum but can't find an answer to my specific case, so any help is appreciated!
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