being a contractor

[richardtheplumb]

Hi everyone could do with a bit of advice if possible, I received a welcome pack today of a local private housing maintenance company "care and repair. basically they are inviting me to apply to be accepted as an approved contractor with them and was wondering if anyone has done this sort of thing and is it worth going for etc etc, I have heard one negative about this type of thing and that's I will have to register this hmrc and pay a higher rate of tax that im currently paying. grateful of any advice anyone can give
cheers Richard

 

[AWheating]

what do you have to register with hmrc?

 

[ShaunCorbs]

yea i work for then and tbh round here they have lost a lot of there funding so work has dried up

 

[rpm]

Probably not relevent but ....
A friend of mine who is a sound engineer worked for a company on a SE basis for years a few months at a time on & off then one day he was told he had to form a limited company and they would only pay him through the company.

 

[hammers4spanner]

In fairness nobody knows other than you what its going to be like as you have the welcome pack should all be in that .

 

[richardtheplumb]

thanks everyone for your input, welcome pack not very good hammers and aw I would have to register that im a contractor with hmrc where they will then put me on 40% tax band so I was just wondering if it was worth going for it, best give them a ring on Monday I think thanks again everyone

 

[GasmanxxxR1]

Surely its under CIS and that has a 20% income tax rate