Caught by IR35

[Mr Maginka]

If your contract means your caught be IR35 am I correct in thinking that creating your own Ltd company would be a false economy?

I base this on Accountant fees, Insurances, Company set-up fees etc. Whereas you just pay your brolley x amount and there is no savings as you would be paying PAYE in either set-up.

The only reason is if in the furture you get a new contract and are not caught but why not just wait till then?

Cheers
M

[TheFaQQer]

If your contract means your caught be IR35 am I correct in thinking that creating your own Ltd company would be a false economy?

I base this on Accountant fees, Insurances, Company set-up fees etc. Whereas you just pay your brolley x amount and there is no savings as you would be paying PAYE in either set-up.

The only reason is if in the furture you get a new contract and are not caught but why not just wait till then?

Cheers
M

No - 5% of the invoice value can be offset against expenses, so you can still save over doing it through an umbrella.

[To BI or not to BI?]

No - 5% of the invoice value can be offset against expenses, so you can still save over doing it through an umbrella.

And you can also apply for Flat VAT Rate, potentially saving a few bobs

[Robot]

and you will keep all the bank interest received, umbrella companies must a make a fortune out of this!

[Bright Spark]

And you can also apply for Flat VAT Rate, potentially saving a few bobs

This few bobs, actually covers my accountancy and insurance expenses.

[Mr Maginka]

Well there you go decision made... Ltd route!