Be a contractor or not?

[Lyndan]

hey all

my cousin has just got a job and has been offered to either work as a contractor or go on the payroll. either way the job is a 3-6 month contract.

The daily rate if you are a contractor is 200euro per day
The daily rate if you are PAYE 165euro per day

How would she work out what the best thing to do is?

The contract she would sign as a temporary worker is with the agency and not the company directly.

Any advice appreciated?

Thanks

 

[capall]

If she is coming from PAYE employment and she thinks she might be out of work after this contract then it would be better to stay on PAYE,as she might lose on automatic entitlement to dole. But she would need to check what her PRSI position would be after 6 months self employed

 

[patftrears]

The daily rate if you are a contractor is 200euro per day
The daily rate if you are PAYE 165euro per day

Check out how much the agency will charge for their services.
Then calculate the prsi amount to pay.
Contractor will loose paye tax credit.