Hi all,
Firstly apologies if this is something that is covered but I’ve searched and searched and I’m just getting more confused. I’ve only been contracting for a few months and while now being caught in IR35 isn’t unexpected, I’m confused about the new rates I’ve been quoted by my agency and I can’t find anywhere to help compare them.
Can anyone advise what they think is the best choice? Are they about the same? Even if you could share a calculator to help compare that would be great...
My agency has said that I can work with an umbrella, they can work with me as a deemed contractor and do my NI and tax at source for no extra cost or I can do PAYE (and get holiday). The quoted day rates are:
Umbrella contractor: £350
Deemed ltd: £306
PAYE: £260
I’m not precious about keeping an Ltd company as I will be having a baby in August so won’t be working most of the year (and am then undecided about whether to continue contracting). Also my expenses aren’t huge - maybe £2k a year - not sure if that makes a difference.
Ultimately I just want to make sure I’m not getting ripped off and if it’s not really much difference then for the sake of simplicity I’ll go with the least paperwork.
Thanks in advance!
Firstly apologies if this is something that is covered but I’ve searched and searched and I’m just getting more confused. I’ve only been contracting for a few months and while now being caught in IR35 isn’t unexpected, I’m confused about the new rates I’ve been quoted by my agency and I can’t find anywhere to help compare them.
Can anyone advise what they think is the best choice? Are they about the same? Even if you could share a calculator to help compare that would be great...
My agency has said that I can work with an umbrella, they can work with me as a deemed contractor and do my NI and tax at source for no extra cost or I can do PAYE (and get holiday). The quoted day rates are:
Umbrella contractor: £350
Deemed ltd: £306
PAYE: £260
I’m not precious about keeping an Ltd company as I will be having a baby in August so won’t be working most of the year (and am then undecided about whether to continue contracting). Also my expenses aren’t huge - maybe £2k a year - not sure if that makes a difference.
Ultimately I just want to make sure I’m not getting ripped off and if it’s not really much difference then for the sake of simplicity I’ll go with the least paperwork.
Thanks in advance!
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