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There are likely to be tax implications in your case, but determining those without knowing your country is impossible.

Always check those kinds of things either with a tax lawyer or an accountant.

Thanks I am based in Pakistan. I am researching this further but wanted to understand if there are any implication for me in Britain. Any pitfalls in contracts. As well as experience of someone who has gone through this.

Pakistan?! Ouch. Seriously, I would do nothing at all in your case, even if it ends up hurting you financially (and at the very least, work through the situation with a lawyer).

Lie low and try not to end up on the blacklists of the NSA/GCHQ/MI6. Good luck!

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