Hi everyone,
I have been at my current client for about 7 months operating outside IR35 via LTD company where I am the sole director.
In terms of Umbrella or PAYE, what would be the better option?
Was advised to post here as I created this in an incorrect place before.
I'd appreciate any help and guidance and happy to answer any questions in case I missed something above.
I have been at my current client for about 7 months operating outside IR35 via LTD company where I am the sole director.
- My day rate is £550 a day.
- As per many other clients, they have applied a PSC ban and given a choice of Umbrella or PAYE.
- PAYE would be via an agency not the client itself.
- Umbrella I have an option to select my own or go with a recommended one from the agency.
- Should I go Umbrella, the client has raised the day rate to £640 a day to cover for loss of income.
- The contract extension is for another 3 months from 1 April 2021 with a view for possible extension.
In terms of Umbrella or PAYE, what would be the better option?
- In my case I rarely pay into my pension currently, but would like to.
- There is a possibility of working with multiple clients e.g. take an odd 10 day consulting contract with another client while working with my main client. But realistically I don't know whether that will happen, it's something in the future which may not happen.
- My expenses are quite low, about £150 a month currently.
Was advised to post here as I created this in an incorrect place before.
I'd appreciate any help and guidance and happy to answer any questions in case I missed something above.
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