Part Time work and Tax (under the allowance)

[RLK500]

Hi, looking for a bit of advice. I am in the fortunate position that I will be able to stop work in the near future. It is possible that I may be asked to work part time on a Project that is underway. I would be happy to do this and would stipulate two days a week. I would price my services to fall under the current income Tax allowance.

What is the best way to deal with the above in terms of payment. Do I setup my own company, use an Umbrella, really not quite sure how to work it.

Thanks in advance.