Hi,
I've been contracting for a few months now and have recently got a new 3 month contract. The thing is after reading the contract, it all states it is a contract for someone wanting to Opt Out from Employment regs.
Now in my limited experience, I've always Opted In as I thought Opting Out was basically a get out clause for the agencies to do whatever they want, to a certain extent. After speaking to the agency about this, they say that Opting out in my situation (Umbrella not Ltd) would help me pay lower amounts of tax on my earnings.
Now I've started the contract, having not yet signed it but is it right that once you've been 'introduced' to the client, eg, an interview, then the Opting out argument is worthless?
I've had a look around these forums and the consensus of opinion seems to be that Opting out has nothing to do with tax.
Am I wrong or is this agency talking a load of sh!t?
Thanks
I've been contracting for a few months now and have recently got a new 3 month contract. The thing is after reading the contract, it all states it is a contract for someone wanting to Opt Out from Employment regs.
Now in my limited experience, I've always Opted In as I thought Opting Out was basically a get out clause for the agencies to do whatever they want, to a certain extent. After speaking to the agency about this, they say that Opting out in my situation (Umbrella not Ltd) would help me pay lower amounts of tax on my earnings.
Now I've started the contract, having not yet signed it but is it right that once you've been 'introduced' to the client, eg, an interview, then the Opting out argument is worthless?
I've had a look around these forums and the consensus of opinion seems to be that Opting out has nothing to do with tax.
Am I wrong or is this agency talking a load of sh!t?
Thanks
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