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Originally Posted by mbriody
I am about to move perm to contract and am trying to decide which way to go in terms of umbrella, LTD co etc. I have contracted in the past (before IR35) and think I have a good handle on the issues.
There seems to be a consensus in this forum the Ltd Co is a good thing. However, assuming the worst case that my contract is within IR35 I can't see much to recommend Ltd Co over Umbrella. Are there any significant factors I am missing?
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Operating through your own limited company you will benefit from the VAT Flat Rate Scheme and from the 5% allowance even if caught by IR35. Both these will provide you with more than an umbrella.
Feel free to email me if you want an illustration sending to you.
Alan