Hi,
The figures:
I am currently earning 45k in my permee full time job.
I have picked up a short term contract at £300 per day.
I will do 2/3 days a week over a 3 or 4 week period.
I may get future contract work.
What is the best option regarding reducing my tax?
I searched the net and thought about using an umbrella (composite) but then I realised that it isn't possible any more.
My current plan is to work as a sole trader and take the 40% tax hit. If I get more work I will use an umbrella or set up a ltd.
Or is it worth forming a ltd company now anyway?
Will an umbrella be interested anyway? I will give them a call tomorrow.
What do you think?
Cheers,
JNinja
The figures:
I am currently earning 45k in my permee full time job.
I have picked up a short term contract at £300 per day.
I will do 2/3 days a week over a 3 or 4 week period.
I may get future contract work.
What is the best option regarding reducing my tax?
I searched the net and thought about using an umbrella (composite) but then I realised that it isn't possible any more.
My current plan is to work as a sole trader and take the 40% tax hit. If I get more work I will use an umbrella or set up a ltd.
Or is it worth forming a ltd company now anyway?
Will an umbrella be interested anyway? I will give them a call tomorrow.
What do you think?
Cheers,
JNinja
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