Questions Questions Questions - first contract

[Jimbo516]

Hello all. I'm currently a PAYE employee in London, but I've been offered a 12-month contract for around £90K with a public sector organisation in Cambridge, which is closer to where I live. I've never been a contractor before and have a load of questions after reading around the CUK forums:
1. I was worried about IR35 but am happier that even though I'll only have one client, I could still stay outside IR35 as long as the contract is written well. But who will write the contract - me or them? Will an accountant be able to review it for me, or do I need a solicitor as well? Can anyone recommend an accountant in Cambridge?
2. I'm planning to try for Ltd company rather than umbrella assuming I can stay outside IR35. If I am inside then is there any real difference?
3. It seems with s660a there's really no point paying my wife a salary from the company, but is there any downside to paying her some dividends?
4. If I choose my company tax year carefully, can I avoid having to register for VAT? I won't have a lot of expenses that I could reclaim VAT on anyway.
5. Is doing an MBA legitimate training? The course would certainly give me more credibility and help win new clients.

Sorry for all the questions but it's all new to me, and this forum looks pretty helpful.

[cojak]

Welcome,

You'll find answers to your questions within the CUK website. Because almost every question you asked will have the regulars frothing at the mouth I'm going to take the unusual step of locking this thread.

On the right you'll find CUK Navigation. >>>>>>>>>

Look down and you'll come to the First Timers section. Have a read through there.

Basic expenses questions answered here: Contractor Expenses - How to claim Travel and other expenses via Limited Company or Umbrella

Then pay particular attention to IR35.

And here are the rules when using company credit cards: http://www.hmrc.gov.uk/payerti/exb/a-z/c/cards.htm

If you go into the Accounting/Legal forum you'll discover the thread Basic advice when running your own contractor business.

Guide to Contracts also has some good articles.

And finally - accountant recommendations - Ta-da!

Happy reading!