Hi all,
Firstly, let me say this site is a great fountain of knowledge and has already been of extreme use. I'm hoping I might be able to pick your brains a bit more about my particular case, as this is my first time taking up a temp/contract position. Please do be gentle with me!
In May this year I left my old company (an international bank). I had been with the bank for 5.5 years as a full-time, permanent employee. I am now with another company, but am not enjoying the role and have been made an offer to return to the bank as a contractor (initially a six month contract, with a view for extension). The role I will be taking up includes some work I was previously responsible for (up until September 2012, after which I became a member of a general team), as well as another significant project which is new for me. I'm due to commence working at the Bank in one month.
Today I received a sample contract from the agency which I will be employed through. They confirmed that the contract will be between myself and the agency (not the bank), and the agency will be the one paying me (rather than the bank).
For tax reasons, if it is possible, I am keen to set up and work under a limited company, but I'm unsure about whether I will fall foul of IR35. I've received two differing opinions from professionals, so wanted to see what guidance you may be able to share.
Many thanks for taking the time to read this and I look forward to your response.
Firstly, let me say this site is a great fountain of knowledge and has already been of extreme use. I'm hoping I might be able to pick your brains a bit more about my particular case, as this is my first time taking up a temp/contract position. Please do be gentle with me!
In May this year I left my old company (an international bank). I had been with the bank for 5.5 years as a full-time, permanent employee. I am now with another company, but am not enjoying the role and have been made an offer to return to the bank as a contractor (initially a six month contract, with a view for extension). The role I will be taking up includes some work I was previously responsible for (up until September 2012, after which I became a member of a general team), as well as another significant project which is new for me. I'm due to commence working at the Bank in one month.
Today I received a sample contract from the agency which I will be employed through. They confirmed that the contract will be between myself and the agency (not the bank), and the agency will be the one paying me (rather than the bank).
For tax reasons, if it is possible, I am keen to set up and work under a limited company, but I'm unsure about whether I will fall foul of IR35. I've received two differing opinions from professionals, so wanted to see what guidance you may be able to share.
Many thanks for taking the time to read this and I look forward to your response.
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