First post so be gentle!
I'm in the following situation.
I'm Greek but I live and work in the UK for the past 10 years.
I have just received my first contract job offer but it is in Germany (Munich).
At first instance it is a nine month contract but extension looks extremely likely.
Initially I was thinking of going the limited or umbrella company root but the agent said that client has to employ me as an individual under an AUG contract (which he presented as the temporary equivalent of a permanent employee in terms of rights and benefits e.g. holidays etc.)
My agent suggested to pay German Tax and UK NI as the best option for my rates. Furthermore as long as I keep my residence in UK I will also have a tax free allowance at my disposal (about 25% of the total hourly rate will be tax free).
Also the agent said that my salary will be payed in euros irrespective of where I ask them to send the money to.
So my questions now.
Does these sound correct/ok?
Will I be taxed twice? The agent also mentioned something about an 'NT' taxed code. Any more info? Still waiting for the agent's reply.
UK NI. How much is that? Do they look at the earnings coming from job abroad and apply the relevant rate as if I was working in the UK?
What is the cheapest option to convert some of the salary to £ for my expenses here in the uk and also to send some money in Germany for my expenses there?
I'm confused....
Any help will be greatly appreciated!
Thanks!
I'm in the following situation.
I'm Greek but I live and work in the UK for the past 10 years.
I have just received my first contract job offer but it is in Germany (Munich).
At first instance it is a nine month contract but extension looks extremely likely.
Initially I was thinking of going the limited or umbrella company root but the agent said that client has to employ me as an individual under an AUG contract (which he presented as the temporary equivalent of a permanent employee in terms of rights and benefits e.g. holidays etc.)
My agent suggested to pay German Tax and UK NI as the best option for my rates. Furthermore as long as I keep my residence in UK I will also have a tax free allowance at my disposal (about 25% of the total hourly rate will be tax free).
Also the agent said that my salary will be payed in euros irrespective of where I ask them to send the money to.
So my questions now.
Does these sound correct/ok?
Will I be taxed twice? The agent also mentioned something about an 'NT' taxed code. Any more info? Still waiting for the agent's reply.
UK NI. How much is that? Do they look at the earnings coming from job abroad and apply the relevant rate as if I was working in the UK?
What is the cheapest option to convert some of the salary to £ for my expenses here in the uk and also to send some money in Germany for my expenses there?
I'm confused....
Any help will be greatly appreciated!
Thanks!
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