I have been employed as a customer relations manager with RBS for some years now. As a result of necessary cost cutting, I am losing my job within a few weeks. However, I have been asked to continue working for RBS for a further 6 months, not as a permanent employee but rather via an agency on a day-to-day basis. I suppose a bit like a consultancy. I will be paid by the agency at twice my present salary.

The agency tells me that there are three routes I can take:
1 – I can receive weekly payments direct from the agency with PAYE deducted (tricky to balance monthly and quarterly direct debits etc).
2 – I can set up a limited company with me as director (I would have to do all the admin and find a tax accountant for the rest, etc – not particularly onerous).
3 – I could work for an 'umbrella' company which would charge a small fee from the money the agency pays to them but sort out all tax and admin and pay me monthly on the date of my choice and provide holiday/sick pay).

Something to bear in mind is that I am told that I will not be able to claim travel and meals as expenses as this contract will mean I will have been on the same site for over two years. This detracts from the 'expenses led' options.

At the end of the 6 months, I am intending to buy a franchise operation and run my own business.

Which, in your opinion, is the best route for me to take or perhaps none of the above routes but a completely different one?

Thanks, Christopher.

Optional Information:
Province/Country relating to question: England

Already Tried:
Nothing - it has only just been sprung on me,