Maximise earnings

[Simon_m]

Morning all. To put it bluntly I have dropped a massive bk!

I currently earn a basic of £24k, with OT and bonuses I top that up to around £32k.

I was recently offered a contract role at £230 at day, with the pound signs in my eyes I took it and handed my notice in. After thouroughly reading the contract it turns out I have to pay £100 plus VAT per day for the van and fuel card! Hmmmm not so rosy then. I also have to invoice as a LTD company, the easiest way to do this would be to use an umbrella company. So I contacted one and they worked out my net wage to be £377 per week, they will take £28 per week out of this for their fees They are saying they can't claim anything back for the van rental and cannot claim for subsistence due to me not having any travel costs.

The only crumb of hope I have is that the job includes training which allows me to become NSN accredited, something that is a big deal in my industry, so I am now looking at this as a training period and hopefully move on.

Is there any way to try and maximise my take home pay i.e. for me to set up a LTD company and go VAT registered or is this going to work out about the same with accountants fees etc. Any advise welcome.

[singlecoil]

Sounds a bit like you are only going to be working for one company, and they are trying avoid putting ypu on PAYE.

Assuming what they are doing is within the rules, and they are your only customers, then registering for VAT would seem to be appropriate.

[Kudos]

You should be able to run a ltd company for this type of thing (assuming a ltd co is really required) for less than £28/week. Speak to an accountant for full picture