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Contract / Part Time?

 
#1 Contract / Part Time?
05/01/2014 19:30

driftyfifty

I'm about to get an offer for a contract role which will mean I need to set up my own limited company.

I'm hoping to keep my current role part-time and carry out work remotely in the evenings.

My dilemma is do I get the contract in my current role changed to part-time hours or do I get re-employed as a contractor through my limited company? I have a work-load planned for the next 3 years.

If I'm employed part-time while working the contract will this effect my I35 and mean I lose out on tax benefit?

Any info you can provide would be appreciated.

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#2 RE: Contract / Part Time?
08/01/2014 09:34

Mr Cool to driftyfifty (#1)

Are you uk tax domiciled?

Have you agreed this with your employer?

Have they agreed to you moving from employee to contractor with them too?

The tax answers depend on all those factors...

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#3 RE: Contract / Part Time?
30/01/2014 00:30

bmgindia to driftyfifty (#1)

There is huge difference in tax paying structures of employees and contractors. Working as a contractor full time is sure to deliver the benefit of being entrepreneur while the option of working as a part time employee gives opportunity to explore more options with less limitations. MY choice would be - to work as contractor for stability.

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