I have been offered a job with an agency to interview, supervise and train drivers. The position is being created for me and presumably as PAYE. The client wants me on backshift but he only really needs me on Friday and Sunday nights. Any other night he can use any driver as its less specialised. I don’t think there is enough office based work for me just now so i am going to suggest those nights behind the wheel and the rest of the week based in the office and on site. I don’t know if i should bin my company and go fully employed or do both. Obviously i am looking at my NETT income and i am better off self employed. Would i lose out by doing 2 13 hour self employed shifts a week and 3 PAYE shifts?
I’m not sure you can do both. If you S/E and take PAYE it buggers up the tax calcs.
You can do both. Sometimes it benefits you as taxman likes two bites.
Bale Bandit:
I’m not sure you can do both. If you S/E and take PAYE it buggers up the tax calcs.
No it doesn’t. When you complete your self assessment there’s a page for PAYE where you put in the gross and tax deducted. HMRC add up the gross PAYE pay to the profit/loss of self employed, work out what the tax bill is, deduct what you’ve paid through PAYE and give you a bill for the rest or a refund if you traded at a loss self employed.
If you were doing the driving work direct rather than through an agency you would be better off doing PAYE for the driving and self employed for the training Scanny. The PAYE will be a regular wage to satisfy mortgage/loan companies if you ever need to borrow money and you can claim expenses for the training which may even see you at a slight loss on paper. If its all on agency then the waters become muddied a little but if they’re only offering a quid an hour more, stay on PAYE.
The offer being passed up the chain of command is a fixed rate of 60 hours a week which includes 2 shifts. The rest of the time would be split between the office and customers site. This seems to be the best way for now