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FAQ
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| Do you need to create a company if you work as an independent (contractor) in the UK? | This article was translated by an automatic system, ie without any human intervention. Easy Expat offers such items in addition to those made by translators. [powered by  ]
Original version here |
Most freelance information technology (IT contractors) in the UK working for their own company (Limited Company). By owning your company, you can pay a portion of your earnings in dividends, taxed less And take into account certain expenses in the company's expense.
However the British government introduced the tax rule IR35 (Inland Revenue) from the 2000 budget and these benefits could be del IMES, depending on whether you are under the new law or not.
Generally, a Limited Company will be more useful if you are not affected by the rule IR35, and go through a portage company (Umbrella Company) will be advised otherwise.
So you have to choose between:
1/Créer his own company (Limited Company)
2/Utiliser company portage (Umbrella Company)
3/Etre employee under the PAYE (Pay As You Earn) through an agency.
1. Create his own company (Limited Company)
The majority of IT contractors work using their own society.
Vou s can make your company using Companies House [ http://www.companieshouse.gov.uk ]. While this system is relatively inexpensive, you will need to complete many docume nts. You may therefore prefer a quicker solution: buy a company already incorporated, with fewer formalities within minutes so you can start using your new company ready in a few hours.
Whichever way you choose, you must choose a secretary (usually a parent or your spouse). You'll also need an accountant that will allow you to do your accounts, calculate your taxes and payroll taxes.
2. Use a portage company (Umbrella Company)
A company will be carrying the paperwork for you, by charging your customers, collecting payments, calculating charges and charged es and social well on you in transferring the rest of your money. In other words, the company provides a vehicle carrying billing already ready, you hôtant concerns related administrative work freelance.
You pay them a monthly fee (usually between £ 50 and £ 300 depending on the type of service). In the past these companies were more expensive than creating his own company because they did not offer the same benefits f inancial. But with the rule of IR35, this disparity has been reduced.
Nowadays you can find many umbrella companies by searching the Internet (Umbrella Companies).
3. Being an employee under the e PAYE (Pay As You Earn) through an agency.
Some agencies offer to be employed in the system "PAY", their own accounting system. You lose all the benefits of being independent in terms tax and charges and you can not pass some of your spending costs society. However, it is a system that sometimes seems to bring more security, especially in terms of bank guarantee or to obtain a loan and i
[07-10-2005] |
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