Agency Construction worker Self employment advise

IMvagrent

Hi there,

I have been informed by the employment agency that they are no longer able to pay me via CIS and I have to now move onto PAYE or I can set myself up as a limited company.
I refuse to go onto Paye as I want to keep being self employed.
My question is should I go 'sole trader' or the 'full on limited company'?
What are the ins and outs of each what is the 'norm' in my situation?

phill99

You are currently a 'sole trader', hence the reason you have been under the Construction Industry Scheme. Sole trader os another term for self employed.

So you have 2 options: go as PAYE or set yourself up as a limited company. A Limited Company will cost you around £1000 a year for an accountant to administer, so there is a downside.