I've been approached by a past employer with the offer of direct work. Over the past couple of years I've always gone through agencies and umbrella cos.

What's the procedure when going direct?

* are there any sample contracts anywhere on here that I can adapt to the specific role
* how much extra will I make if I form a ltd co (at the moment the yield on my earnings via the brolly is about 68%)
* if I need an accountant how much should I be expecting to pay

And are there any 'gotchas' that I should look out for when negotiating rates/hours/legal stuff with the client?

Sorry if the questions seem a bit basic but if this one comes off there will be no brolly or agency to hold my hand!