Contracting in Belgium

[JustMe]

Thank you very much all for all the replies.

I did a google search and spoke to one of the company regarding all this... they said that they can support me by creating a limited company for 6 months (my contact is for 6 months) and anything more than 6 months I will need to do my own taxation thing by setting a company there in Belgium because I will be treated as Belgian resident or something like that. (I think this is about 183 day rule)

They provided me a break down of how much I can earn as below:

....................................|Per Annum.....| Per Month....|Per Week
Gross Contract Value .......|€85,800.........|€7,150...........|€1,650
Dividents........................|€4290........... |€358..............|€83
Retainer.........................|€11000.......... .|€917..............|€212
Discretionary loan award...|€57640..........|€4803.............|€1108
Take Home.....................|€72930..........|€6078..............|€1403

And I also did a little research on the area where the project is based, I can easily manage to get my food and accommodation done within €1000 to €1200.
I wont be travelling too much....probably once or twice in a month so that should lower my cost further.

I really want to work on this contract only because this will add a great value to my CV. But at the same time I do not want to put myself into any unexpected trouble leaving my current full time job.

I would really appreciate your thoughts on this.
Thank you very much guys.

330 a day --> 20 Working days = 6600
deduct 30% employers cost = 4620 your gross income
50% tax and social = 2300 net per month

good luck
justme

[cojak]

Has no-one pointed the OP to this thread? Contracting in Belgium - a guide to tax and social security.

Read the later pages as Belgium tax rules have got tougher since the beginning of the thread.

Basically, if you are new to contracting do not contract abroad unless you know what you are doing. Many people who know what they are doing choose NOT to contract in Belgium.

And as for 'unexpected trouble leaving my full time job' - you'll be in far worse unexpected trouble if you don't understand the Belgian tax rules and what you'll be getting yourself into with this agency.

Read the above thread. I think that you have been told enough now to make your decision.

[jamesbrown]

Listen to stek, you're well out of your depth and liable to get shafted by the tax authorities in one or more countries. "Discretionary loan award" = very bad. "Divident" =

It's too easy for new contractors to get sucked in with headline rates, thinking that they amount to far more than they do in reality (after costs). You'd be much better off taking the permie role, seriously.

[stek]

Thank you very much all for all the replies.

I did a google search and spoke to one of the company regarding all this... they said that they can support me by creating a limited company for 6 months and anything more than 6 months I will need to do my own taxation thing by setting a company there in Belgium because I will be treated as Belgian resident or something like that.

You will be treated as a Belgian resident from day one. A Belgian company or a UK one will be also. Do some more research or better still;

Run, Forest, run....

"Discretionary loan award" - read the EBT tread on here at look at the grief they're getting.....

You are seriously out of your depth, take the perm role.

[raselmahbub]

Thank you very much all for all the replies.

I did a google search and spoke to one of the company regarding all this... they said that they can support me by creating a limited company for 6 months (my contact is for 6 months) and anything more than 6 months I will need to do my own taxation thing by setting a company there in Belgium because I will be treated as Belgian resident or something like that. (I think this is about 183 day rule)

They provided me a break down of how much I can earn as below:

....................................|Per Annum.....| Per Month....|Per Week
Gross Contract Value .......|€85,800.........|€7,150...........|€1,650
Dividents........................|€4290........... |€358..............|€83
Retainer.........................|€11000.......... .|€917..............|€212
Discretionary loan award...|€57640..........|€4803.............|€1108
Take Home.....................|€72930..........|€6078..............|€1403

And I also did a little research on the area where the project is based, I can easily manage to get my food and accommodation done within €1000 to €1200.
I wont be travelling too much....probably once or twice in a month so that should lower my cost further.

I really want to work on this contract only because this will add a great value to my CV. But at the same time I do not want to put myself into any unexpected trouble leaving my current full time job.

I would really appreciate your thoughts on this.
Thank you very much guys.

[Eirikur]

You won't survive on €330 per day. You must have double that at least (keep also in mind the Euro is around 70p at the moment

[Bozwell]

Suggest you read this...

http://forums.contractoruk.com/accou...-security.html

That's a good post for the OP to read but I do wonder how much things have changed since 2009. There are Belgian Umbrella companies if you do a Google search which claim to save a lot of tax.

[stek]

That's if you take all your income as personal right? But then why would a contractor do that?

Suggest you read this...

http://forums.contractoruk.com/accou...-security.html

[Bozwell]

Well, inc Social taxes.....

That's if you take all your income as personal right? But then why would a contractor do that?

[stek]

56% tax!?

Well, inc Social taxes.....

[Bozwell]

56% tax!?

[stek]

Don't take it, €330 isn't anywhere near worth it, travel, accom, taxation advisor and 56% tax will leave you with nowt!

[raselmahbub]

Hello everyone,

I am a complete newbie here and also wishing to start my career as a contractor.

I really need your help guys in making a decision regarding my first contract ever in my life.

I have been offered a contract in Belgium (I am a British citizen) 330 euro daily.

All I know is I need to set up a company and declare as self employed. The agency then would pay my company etc etc

Could you guys please help me out by pointing to the right direction regarding

- How much can I actually earn per month after tax?
- What check list I need to make sure with the agency before I confirm

Oh... I have another job offer here in UK offering £30,000 and also near to where I live.

I would really appreciate your help.

Many thanks