Contracting in the UK
For decades, contracting has been the preferred employment option for 90% of Aussies and Kiwis wanting to work in London.
The tried and tested path for most Aussies and Kiwis contracting in London was been to set up a Limited Company to maximise take home pay by minimizing tax.
IR35 tax changes over the years have however progressively diminished tax benefits gained by working through Limited Companies.
So, what are the options for organizing your affairs and getting paid while Contracting in London?
Go on the agency payroll and get paid directly by the agency that placed you
Work through a payroll company to save time and minimise invoicing hassle
Set up your own individual personal service company to organise your affairs
FIXED TERM CONTRACT
Get employed and paid directly by the end-client on a fixed-term contract
What’s the best option for you? What business expenses can you claim? Can you claim relocation costs? Well, that depends on the employer and the nature of your assignment.
To help you understand the differences, and make the best choice for you, we’ve partnered with the leading UK contractor service company, PayStream.
PayStream offers award-winning customer service, is fully FCSA Accredited and run by qualified accountants and lawyers. If you would like us to introduce you to the team at PayStream, get in touch with us.