Any Contractors living in UK?
 

Hi guys

Considering a contract in UK as a contractor.

Does anyone have evperience of this in relation to the tax position?

Have you set yourself up as a LTD company ? If so whats your tax liability like?

Are there other ways of doing it?

Or is it as simple as you cannot get around the 40% tax bracket?

Much appreciated.

Understand if you dont want to post, a Private Message would be great

Regards

I used an outfit called crewform for my Irish tax situation earlier this year - guys seem good if a bit anal, well it is tax!! Anyway I got Tax refund within 4 weeks. Check them out at crewform.com

Is this crewform still working ? I sent a mail a month ago and still no answer...
Thanks

Hi,
I worked in the UK as a contractor a couple of years ago. At that time I used Orange Genie as the financial office that paid the UK taxes on my behalf. My pay situation went like this:
a). The airline paid my flight crew leasing company; then,
b). The flight crew leasing company took their cut; then they
c). forwarded my pay to, "Orange Genie" (who for a small fee of 56 pounds per month), paid my taxes to the British government and forwarded me the rest (into my offshore bank account).
Every month I would fill out my expenses electronically and send Orange Genie the hard copies/receipts, because as a contractor you can deduct a bunch of expenses.
Without my prior knowledge, Orange Genie had deducted 1200 pounds from my pay (over a period of four months). They were saving this money for me as my "holiday pay". When I left the UK, Orange Genie forwarded me this 1200 pounds, which was a very nice suprise. All in all a good company and I would use them again; and, no, I do not work in the financial world. I are pilot!