Hi all. I'm about to change jobs in the next 3 weeks. The new job is a long term contract. The agent has offered me 2 options:-
1. PAYE on his books.
2. I could make an extra couple of quid an hour by going "Ltd".

I'm aware that if I go with option 2 that I would need an accountant. Neither option would gain me any holiday pay either.

Could someone give me the lowdown on both please.

Thanks in anticipation

Nick

 

Does he really mean "Ltd" or perhaps you could just be self-employed (meaning you don't actually have to form a Ltd Company with all that entails) ? Means less responsibility for him. DL

 

Im self employed (short and medium term contracts) and for what its worth would never go paye ever again

 

Can't comment on Income Tax you'd pay either way but if you went self-employed you'd have to pay your own National Insurance contributions @ £2.05 a week no matter what you earn (over about £4000 net profits per year) which isn't a lot.

 

Thanks guys. Sorry to appear a bit thick here, but are there any organisations out there that I can get the help and advice I need to go down this route. I've always been fully employed by the companies I have worked for.

Nick