First time contractor question
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    Default First time contractor question

    First time contract the day rate is £350, I donít want to be inundated with paperwork, what is the best option? Limited Company or Umbrella company? I understand that with a limited company I will have to provide public indemnity insurance and an accountant , how costly are these ? and is there anything else I should be thinking about?

    Cheers,

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    キツネの帽子をかぶる

    WTFH's Avatar
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    If itís your first time, Iíd suggest using an umbrella for the ease of it all. There are a couple on here who seem to get positive responses
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    Should post faster


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    This is a decision that should be made considering all the facts and not just your day rate.

    We would also need to look at length of contract and your intentions after the end of the initial contract. We would look at things like your predicted spend on travel and subsistence as well as other factors.

    You should absolutely speak to an accountant specialising in contractor accounts for some advice. The initial contact should cost nothing other than your time and could end up saving you far more.

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    northernladuk's Avatar
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    It's not just the paperwork. It's all the time and effort to actually understand what you are doing, which is going to be quite a lot initially looking at that post. PI and an accountant is just scratching the surfacem You need to read all the links to the right hand side and understand them. No one is going to do it for you.

    Or go umbrella, which I'd advise. Speak to Lucy at Contractor Umbrella. She posts here alot and is a reputable company.
    'CUK forum personality of 2011' - Winner - Yes really!!!!

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    More time posting than coding

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    Quote Originally Posted by northernladuk View Post
    Speak to Lucy at Contractor Umbrella. She posts here alot and is a reputable company.
    Now I'm blushing

    Hi GeoffWasTaken I can help talk you through your options, just give me a shout.
    Just watching what I say

    We now offer Ltd too, so if you need a company that you can switch between Ltd & Umbrella, just shout!

    Connect with me on LinkedIn

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