C
craiglb
- Original Poster
- #1
Hi, I'm to this Forum and have read through pages of previous posts with no real answers to my questions, So here goes;
I am currently in talks with a new company regarding a new job. This new job will be based from UK but involves world wide travel.
I have options to go on a self employed or PAYE. Self employed is more attractive due to the increased hourly rate and over seas rate.
So, If I go self employed I have 2 options.. Sole trader under the umbrella scheme which is 20% deductions on all monies paid to me by the new company or form a limited company.
The question I'm really asking is what will be most beneficial? I will only be working for one company so one weekly payment. I will be using my own car and be making regular trips of 600 mile when in the UK.
I will more then probably be working overseas and offshore in various locations for more then 6 months of the year? Does that mean I wont have to pay UK tax or do I have to spend longer out of the UK?
Could I set up a Limited company in a offshore account to lower tax bills?
Due to the nature of the job I will have no fixed address, How would this work as far as tax and the company is set up?
I have an address which I can use as a contact address but that is my girlfriends property and she is a single parent claiming tax credits etc. I would not want to put her under any scrutiny by the tax office.
Apologies for being vague and asking lots of questions.
I am currently online searching for a local accountant but with so many to choose from its difficult. Plus I would like one who has knowledge of the working overseas procedure.
Regards
Craig
I am currently in talks with a new company regarding a new job. This new job will be based from UK but involves world wide travel.
I have options to go on a self employed or PAYE. Self employed is more attractive due to the increased hourly rate and over seas rate.
So, If I go self employed I have 2 options.. Sole trader under the umbrella scheme which is 20% deductions on all monies paid to me by the new company or form a limited company.
The question I'm really asking is what will be most beneficial? I will only be working for one company so one weekly payment. I will be using my own car and be making regular trips of 600 mile when in the UK.
I will more then probably be working overseas and offshore in various locations for more then 6 months of the year? Does that mean I wont have to pay UK tax or do I have to spend longer out of the UK?
Could I set up a Limited company in a offshore account to lower tax bills?
Due to the nature of the job I will have no fixed address, How would this work as far as tax and the company is set up?
I have an address which I can use as a contact address but that is my girlfriends property and she is a single parent claiming tax credits etc. I would not want to put her under any scrutiny by the tax office.
Apologies for being vague and asking lots of questions.
I am currently online searching for a local accountant but with so many to choose from its difficult. Plus I would like one who has knowledge of the working overseas procedure.
Regards
Craig
