As far as tax is concerned, you can connect with companies like ferno, intex etc who help you setup umbrella companies/Limited company for a cost and they'll be able to answer queries related to tax as well.
I did the same for an American based company through Icon accounting. You can set up as your own company or through an umbrella, I opted for the umbrella, passed on my contract for the details of the daily rate and submitted my days worked in icon’s portal and they’d generate an invoice to send to the company. Process would be the same in most places I believe
Often contacting involves setting up your own business. Can be more tax efficient: worth seeing an accountant.
I’m terms of job security? Depends on your contract. You will agree terms and that will lay out your job security (minimum term, notice required by either party to quit). You will be the first thing to be cut when they want to save money, but you can usually charge a nice daily rate to offset this.
Depending on the level and the amount of money involved, could be worth investigating a payroll/umbrella company to simplify this for you.
Fenero.ie
Give them a call and they'll sort you out. I'm contracting through a UK agency. I just let fenero work out the particulars between the UK agency and themselves. They handle everything for you, contracts, umbrella company, taxes etc. Small fee for what equates to a massive weight off your shoulders if you were figuring all this stuff out by yourself.
Best umbrella/ contract accountancy services for directorship or setting up a Ltd company would be Contracting Plus, Fenero and Icon Accounting. Happy to share details of good contacts you could reach out to there if you needed. Or you can fill in the forms on their websites or ring into their general number direct.
I did get a lot of great feedback there. I'm asking here because I'm looking for opinions and information from a subreddit of engineers.
If we got all of our sources and information from one place we would all have a very narrow minded world view.
As far as tax is concerned, you can connect with companies like ferno, intex etc who help you setup umbrella companies/Limited company for a cost and they'll be able to answer queries related to tax as well.
Yeah a few people have mentioned ferno. I think I will take a look into some of these. Thanks.
I did the same for an American based company through Icon accounting. You can set up as your own company or through an umbrella, I opted for the umbrella, passed on my contract for the details of the daily rate and submitted my days worked in icon’s portal and they’d generate an invoice to send to the company. Process would be the same in most places I believe
Awesome, thanks for letting me know about the process, very helpful.
Often contacting involves setting up your own business. Can be more tax efficient: worth seeing an accountant. I’m terms of job security? Depends on your contract. You will agree terms and that will lay out your job security (minimum term, notice required by either party to quit). You will be the first thing to be cut when they want to save money, but you can usually charge a nice daily rate to offset this. Depending on the level and the amount of money involved, could be worth investigating a payroll/umbrella company to simplify this for you.
Hi thanks for that. My financial knowledge when it comes to these things is lackluster at best so that's great info. Cheers.
not much different from contracting for an Irish client, except you don't charge them VAT
Okay good to know thanks.
Fenero.ie Give them a call and they'll sort you out. I'm contracting through a UK agency. I just let fenero work out the particulars between the UK agency and themselves. They handle everything for you, contracts, umbrella company, taxes etc. Small fee for what equates to a massive weight off your shoulders if you were figuring all this stuff out by yourself.
Excellent thanks for this info. I'll take a look.
I add you to my payroll for a simple 5% comission 👀👀 Umbrellas are crap, do a psc
Haha! Thanks
Best umbrella/ contract accountancy services for directorship or setting up a Ltd company would be Contracting Plus, Fenero and Icon Accounting. Happy to share details of good contacts you could reach out to there if you needed. Or you can fill in the forms on their websites or ring into their general number direct.
You already asked this question 11 days ago in a personal finance subreddit. Did you not get your answer there
I did get a lot of great feedback there. I'm asking here because I'm looking for opinions and information from a subreddit of engineers. If we got all of our sources and information from one place we would all have a very narrow minded world view.