Have lost my job so am being forced to get into contracting at the moment.
Starting out , I feel like a little child lost in a maze. I would appreciate any help that you guys can provide.
I have an offer for a contract but need to decide whether to form my own limited company, work as a sole trader or work under an umbrella company.
The contract is initially for 3 months with a possible extension at the end of it so I'm not sure at the moment how long I would continue contracting.
The contract would be with an agency who would in turn sign an agreement with the end customer.
I have done some research online and see that if I form a limited company , my take home pay would be more that a sole trader/umbrella but I would have a lot more paperwork to handle and I would have to appoint an accountant to help out.
Can someone please help me decide if I should go for limited company or not and how can I make sure that I don't fall under IR35 ?