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Contracted Consultancy work - how to get paid?
http://www.x404.co.uk/forum/viewtopic.php?f=3&t=16015		 Page 1 of 1
Author:  snowyweston [ Thu Mar 08, 2012 4:17 pm ]
Post subject:  Contracted Consultancy work - how to get paid?
So one of my agents just asked me a question that I didn't have an answer for....

"for contract work, are you Ltd or PAYE?"

:shock:

If I am going to go the route of temp. contract work - what do I need to do? Do I need to setup a company so I can write invoices? How would PAYE work if I weren't an employee? Questions Questions.

PS : Apologies for this rash of new threads from me - I would normally be a little calmer and do more reading - but I'm finding more and more things to think about with each passing day of unemployment, and it's getting the better of me.
Author:  mikepgood [ Thu Mar 08, 2012 4:34 pm ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
I do work for the NHS on a "consultancy" basis. I invoice them at the end of the month on headed notepaper and they pay direct into my bank account, usually on about the 18th of the month.

Not a limited company, but self employed. Not a problem as the accountant sorts everything out. Could do it yourself, but it bores me rigid and I'm a bit lazy. Plus less likely to be called in by the rev if your accontant does it and they know him.
Author:  tombolt [ Thu Mar 08, 2012 4:35 pm ]
Post subject:  Contracted Consultancy work - how to get paid?
I would guess they're asking if you're self employed or whether you'd be temping for them and they'd sort out the tax. That's a guess though. If you're planning on doing it long term, then you'd be better off being self employed.
Author:  saspro [ Thu Mar 08, 2012 4:49 pm ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
Register yourself as self employed and just invoice at the end of the week/month etc
Author:  oceanicitl [ Thu Mar 08, 2012 5:01 pm ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
Or you can sign up with an Umbrella company and for a monthly fee they can do everything for you.
Author:  AlunD [ Thu Mar 08, 2012 6:02 pm ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
For "Contract" work very few places will take you as self employed, they insist on Ltd company and you will have to have insurance.

Doing "temp" work you can get away with self employed status.

Its really no big deal to do either I've done both.

As long as you pay the tax man on time an amount that looks about right they tend to leave you in piece. :D
Author:  tombolt [ Thu Mar 08, 2012 7:22 pm ]
Post subject:  Contracted Consultancy work - how to get paid?
Self employed is better for tax though.
Author:  AlunD [ Fri Mar 09, 2012 8:21 am ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
tombolt wrote:
Self employed is better for tax though.

Depends ......
And in terms of contract work its a no go.
Author:  John_Vella [ Fri Mar 09, 2012 9:48 am ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
oceanicitl wrote:
Or you can sign up with an Umbrella company and for a monthly fee they can do everything for you.

+1, assuming that you will be working on a regular basis.
Author:  leeds_manc [ Fri Mar 09, 2012 6:11 pm ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
self employed tax is a massive ballache.
Author:  tombolt [ Fri Mar 09, 2012 6:34 pm ]
Post subject:  Contracted Consultancy work - how to get paid?
I just let the accountant deal with it.
Author:  rustybucket [ Fri Mar 09, 2012 7:01 pm ]
Post subject:  Re: Contracted Consultancy work - how to get paid?
leeds_manc wrote:
self employed tax is a massive ballache.

+ 6.02 × 10^23

HMRC are properly, spectacularly, cosmically inept. Avoid if possible.
Author:  Fogmeister [ Fri Mar 09, 2012 11:18 pm ]
Post subject:  Contracted Consultancy work - how to get paid?
rustybucket wrote:
leeds_manc wrote:
self employed tax is a massive ballache.

+ 6.02 × 10^23

lol! Avogadro's number. I remember that from A-level Chemistry!
Lol!


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