Hi everyone,
I'm new to the forum but have been browsing the threads over the last few days trying to get my head around what we should do. Apologies if the answer is out there already but I'm having trouble finding it.
Both myself and hubby are about to start on our contracting journey and have secured contracts through the same agency. As the contracts both fall under ir35 and taking into account the changes, we are totally confused as whether to go with an umbrella company or set up as LTD. We wont be earning a huge amt (£18.00 ph) and I don't mind any admin that comes with being a LTD company so I guess its down to which option will make us better off (if any). As I understand it we wont be able to pay minimum wage + dividends any more and so the LTD route may not be the better option but at the same time I begrudge paying out the fees and Employer NI payments you have to pay using an umbrella.
I wish we could find equivalent private sector contracts but the nature of our work makes this impossible.
Thanks
Madge x
I'm new to the forum but have been browsing the threads over the last few days trying to get my head around what we should do. Apologies if the answer is out there already but I'm having trouble finding it.
Both myself and hubby are about to start on our contracting journey and have secured contracts through the same agency. As the contracts both fall under ir35 and taking into account the changes, we are totally confused as whether to go with an umbrella company or set up as LTD. We wont be earning a huge amt (£18.00 ph) and I don't mind any admin that comes with being a LTD company so I guess its down to which option will make us better off (if any). As I understand it we wont be able to pay minimum wage + dividends any more and so the LTD route may not be the better option but at the same time I begrudge paying out the fees and Employer NI payments you have to pay using an umbrella.
I wish we could find equivalent private sector contracts but the nature of our work makes this impossible.
Thanks
Madge x
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