I'm pretty new to the UK. I've been working a contract for a US company for a couple of months. They initially wanted me to fill out a us govt form which would classify me as an offshore employee and they would deduct 30% from my pay before depositing in my uk account. I imagined this would work to my disadvantage so instead I joined a local umbrella co (NorlaGroup) that was recommended by a friend (I was going to use Giant but they refuse to deal with offshore companies) and had them hash out a contract. The us company doesn't pay VAT.
Was shocked to get my first payslip, seeing Norla has withheld 40% for NI/Tax . Apparently I have no expenses i can claim, since i am working from home, and i have to pay the normal 11.5% employer NI contribution. This is not good, i have already lowballed my rate by accident.
I am seriously thinking of starting a limited company but the contract norla has with lasts for two more months.
Is there anything I can do? What sort of takehome can I expect from my own plc?
Was shocked to get my first payslip, seeing Norla has withheld 40% for NI/Tax . Apparently I have no expenses i can claim, since i am working from home, and i have to pay the normal 11.5% employer NI contribution. This is not good, i have already lowballed my rate by accident.
I am seriously thinking of starting a limited company but the contract norla has with lasts for two more months.
Is there anything I can do? What sort of takehome can I expect from my own plc?
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