Contracting Again

[Badger]

Hi All

I used to contract a few years ago and am going back into it, but a lot seems to have changed, opt-in/out, Ltd co, offshore, umbrellas, etc, etc. I used to used to have a Ltd Co, but due to some personal issues (divorce!), it wasn't feasible to continue with that so I changed to an umbrella co (Parasol I think). I've done some research but the options

So enough preamble. What's the best way of getting the most net income (legally!) out of the following scenarios:

1. There's a possibility I'll be able to contract direct with my current employer after I leave, and possibly be paid from the US but work in London

2. Secure a contract through an agency

All advice greatly appreciated.

Many thanks
Badger!

[BrilloPad]

Hi All

I used to contract a few years ago and am going back into it, but a lot seems to have changed, opt-in/out, Ltd co, offshore, umbrellas, etc, etc. I used to used to have a Ltd Co, but due to some personal issues (divorce!), it wasn't feasible to continue with that so I changed to an umbrella co (Parasol I think). I've done some research but the options

So enough preamble. What's the best way of getting the most net income (legally!) out of the following scenarios:

1. There's a possibility I'll be able to contract direct with my current employer after I leave, and possibly be paid from the US but work in London

2. Secure a contract through an agency

All advice greatly appreciated.

Many thanks
Badger!

I think you will get the same via either option. Most people here used limited - a few use umbrellas. there are a few sticky threads you should read.

I do feel for you as I am also divorced.

[NotAllThere]

So enough preamble. What's the best way of getting the most net income (legally!) out of the following scenarios:

1. There's a possibility I'll be able to contract direct with my current employer after I leave, and possibly be paid from the US but work in London

2. Secure a contract through an agency

Go ltd.

If you work for the US, but in London, you're not liable for tax in the US (I think the form is W8?), but you are in the UK.

So 1 & 2 amount tot the same thing, assuming the same rate paid to you.

[Badger]

Cool, thanks for the responses.

Anyone here using SJD Accountancy for a Ltd Company?? Their website seems pretty comprehensive and offers some good, albeit sales, advice.

Cheers
Badger!

[Alan @ BroomeAffinity]

A lot of people say SJD are good. A lot say they are a sausage factory.

[badger7579]

Nice nick name....

[syn]

I can recommend 1st Option to get you up and running and do your accountancy, although they are a bit pricey.

Never had a single problem with them. Used them for a while but use local accountant now I know the system a little better.