MegaSack DRAW - This year's winner is user - rgwb
We will be in touch
I've been discussing a permanent role at an IT consultancy but due to delay in agreeing work with the client it looks like they'll want me to start off on a contract basis then convert over to permanent when the project is secure. So this is likely to only be for a month or so (hopefully), no point in setting up a limited company so maybe an umbrella company. However bloke at consultancy said I don't need to set anything up, so would I just put the income on my tax return when the time comes?
If its a few weeks, then sure - but probably the easiest way is to find someone you know who has their own business and push the transaction through that. They'll need a bit a cash to cover.
As a self employed contractor you don't need to do anything else but put income and expenses on a tax return.
You just need to know they'll be paying you in your own name so your bank will accept the payment (or cheque) and you should pay your own NI, (a few quid a week) which you should be able to find details of on the HMRC website.
Some say you should get professional indemnity insurance, but that's probably overkill in most situations.
Ah that's good thanks, was wondering about NI.
The rules on self employment don't let you work for one person/company only (normally)
I'd be checking whether this is allowed or not mre carefully.
That rule only relates to the employer - and I think you'd have to be working for the same employer exclusively for a year or two before it became an issue. It's all about avoiding employer's NI.