What's the likelihood of it being extended and what will the extension payment terms be?
If the US company are going to pay you directly then you could just do it as a sole trader. If what you earn in the initial phase is less than £1000 you don't need to declare it. Above that you need to register as self employed and fill in a tax return each year.
I don't know if an umbrella would be willing to deal with a US based client, the foreign currency exchange and the non-regular payments but you'd have to contact them and ask. I personally wouldn't use one if the client is happy paying direct and doesn't require some vehicle in the middle.
Exchange rates are the key thing I'd be wary of. If this is going to be a long term thing, I'd be looking at opening s US$ bank account.
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1 month contract advice please
Hi all, new to the contractor world as I’ve been an fte all my life. Long story short, Currently unemployed but have been offered a 1 month contract with the possibility of extending this depending on how I do. Kind of like a try before you buy situation.
The contract is 40% upfront and then balance paid after 1 month (to add to the mix it’s a US company so payment would be in dollars).
Would an umbrella company pay me like this or pro rata the payments weekly, or prior to that is the best option umbrella company anyway?
Apologies if this has been answered before but tbh I have only received the contract this evening and they want me to start next week.
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