I have the opportunity to do an IT contract for a company based in the USA (Georgia).
I would be performing all the work from my home office in the UK. All work would be for the US company and their US clients.
I would be paid entirely in US Dollars. They have even suggested that they might pay me in the equivalent Bitcoin.
Would it make sense for me to setup a standard Limited Company or would there a better way to run this contract?
Would there be any significant accounting advantages/disadvantages for this type of contract?
You are based in the UK and you’ll be performing this work in the UK. So you’ll be taxed on it in the UK regardless of who / where the end client is.
You can operate as self employed or under a limited company with the usual rules applying. You may want to get the IR35 status of the contract checked.
Finally just to be aware of the exposure to exchange rate gains / losses if you are billing in a foreign currency. Hope this helps.
Advice given is for illustration purposes only and should not be relied upon for your tax planning or tax affairs. We recommend that you seek the advice of a suitably qualified accountant before making any tax planning decisions.