Originally posted by bazuzu
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Previously on "Remote european IT contract (client in Germany, Ltd company in UK)"
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Originally posted by bazuzu View PostI checked with an accountant and they confirmed I will not be paying any tax in germany since this position is fully remote. to be clear, I'm not going on payroll, just that the payroll of the end client is outsourced to a third party company, and its this third part company that I will have a direct contract with.
Good call on the option for Wise, I'll look into that if they allow it.
Thanks everyone for your response, much appreciated!
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I checked with an accountant and they confirmed I will not be paying any tax in germany since this position is fully remote. to be clear, I'm not going on payroll, just that the payroll of the end client is outsourced to a third party company, and its this third part company that I will have a direct contract with.
Good call on the option for Wise, I'll look into that if they allow it.
Thanks everyone for your response, much appreciated!
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Originally posted by bazuzu View PostI have asked the agency, but it seems like they will not be involved in the supply chain, so my contract will be directly with the payroll company in germany (I guess the agency gets a one off fee)
What about the currency conversion fee, who absorbs that? A monthly invoice would lead to a significant fee, but I don't know who bears that cost
I would keep on contract hunting if I were you as that is just going to be a world of complete pain...
Last edited by eek; 6 May 2021, 10:10.
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Originally posted by bazuzu View PostI have asked the agency, but it seems like they will not be involved in the supply chain, so my contract will be directly with the payroll company in germany (I guess the agency gets a one off fee)
What about the currency conversion fee, who absorbs that? A monthly invoice would lead to a significant fee, but I don't know who bears that cost
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What Fred Bloggs says - without Wise it’s blooming expensive and painful but they will give you a Euro account with local details to make things painless for whoever is paying you - international transfers scare people so I try to avoid those
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Originally posted by bazuzu View PostI have asked the agency, but it seems like they will not be involved in the supply chain, so my contract will be directly with the payroll company in germany (I guess the agency gets a one off fee)
What about the currency conversion fee, who absorbs that? A monthly invoice would lead to a significant fee, but I don't know who bears that cost
Leave a comment:
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I have asked the agency, but it seems like they will not be involved in the supply chain, so my contract will be directly with the payroll company in germany (I guess the agency gets a one off fee)
What about the currency conversion fee, who absorbs that? A monthly invoice would lead to a significant fee, but I don't know who bears that cost
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Perhaps I am being especially thick today. But I don't understand how you can fix a day rate with the agency in GBP and the agency fix a day rate with the client in EUR. Every month someone is going to gain or lose on the FX. It usually isn't the agent or the client. If this is in fact the case then happy days for you.
Perhaps the agent has a massive mark up and is happy to soak up a bit of FX variance along the way?
I invoice and am paid foreign currency, but I have no agency between myco and the client.Last edited by Fred Bloggs; 5 May 2021, 14:54.
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Remote european IT contract (client in Germany, Ltd company in UK)
Hello
I'm an IT contractor (currently under an umbrella company). I have been offered a contract (fully remote) with a German company, and the recruiter (who is UK based) has mentioned this is outside IR35. I still have my own Limited company operational, although I am trading (at the moment) via an Umbrella.
The question I have is that this company will pay in Euros, and my recruiter and I have agreed upon a day rate in GBP. I wanted to know how does this work?
The german company will need to pay a set day rate (say x euros per day). This will vary daily in terms of GBP due to daily currency fluctuations. I assume I bear the brunt of any fluctuations in conversion rates (which I'm hoping wont be too much), however I'm not sure what the implications then are for the conversion charge (or other charges) when EUR and deposited into my company's bank account (which is UK based in GBP)
Does anyone have any experience of potential pitfalls to look out for when dealing with a european contract?
Thanks in advance
BazLast edited by bazuzu; 5 May 2021, 13:40.
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