New to contract work..pls advise

[MrMarkyMark]

Under ltd without IR35 i can earn around £3700 (47 weeks) after tax which is a lot more than earning 53k per year. There are good chances of this contract to be last for at least an year.

Forget about contracting, try a career in the circus instead, I hear there are positions for people with oversized feet.

HTH.

[sdyson31]

PAYE option

Agency has offered me PAYE option i have been given roughly idea on what i earn £250 per day rate and per month take home is around £3700 (on emergency tax code) which i think is not a bad option plus 28 holidays.

Is calculation okay?

[sharky]

Agency has offered me PAYE option i have been given roughly idea on what i earn £250 per day rate and per month take home is around £3700 (on emergency tax code) which i think is not a bad option plus 28 holidays.

Is calculation okay?

sdyson31 28 holidays is what your statutory legally entitled too.

But most Agency's will include your holiday pay as part of your normal pay showing a Calculation on you pay slip of holiday pay then your normal pay + holiday pay this will add up to you day rate. its a Deduction and Addition trick this just keeps them with in the Law.

Few offer to keep a % back in a Account for you to take your so called "paid holidays" when you want it still adds up to the day rate your not being paid extra for them.

if you inside IR35 and have no expanse to clam and the agency is offering a free PAYE option sounds a ok ish deal vs going with a umbrella as fees are about £28 a week just to do a payroll so a saving on that.