Hello all. Newbie here

[mokster]

Hi all,

I have been lurking around for a couple of weeks and have found the posts here are incredibly valuable.

I am looking to turn from permie to contracting and am currently in two minds whether to go with an umbrella or Ltd. When the first contract arrives.

I will be looking for around £400 - £450 a day and will limit the travelling required. My gut instinct tells me I should go with an umbrella to start with, then Ltd. later. However, I understand that Ltd. will be more tax efficient but require more admin work with the help of an accountant.

Also, does anyone employ (or has a need to employ) an accountant when going with an umbrella company? For expenses, for example?

Any advice would be much appreciated.

Thanks.

[Contreras]

Hi all,

I have been lurking around for a couple of weeks and have found the posts here are incredibly valuable.

I am looking to turn from permie to contracting and am currently in two minds whether to go with an umbrella or Ltd. When the first contract arrives.

I will be looking for around £400 - £450 a day and will limit the travelling required. My gut instinct tells me I should go with an umbrella to start with, then Ltd. later. However, I understand that Ltd. will be more tax efficient but require more admin work with the help of an accountant.

Also, does anyone employ (or has a need to employ) an accountant when going with an umbrella company? For expenses, for example?

Any advice would be much appreciated.

Thanks.

Trust your instinct. And no you shouldn't need an accountant to help with umbrella expenses.

[northernladuk]

Trust your instinct. And no you shouldn't need an accountant to help with umbrella expenses.

Agreed. You are employed by an Umbrella so they should help you with everything you need.

[mokster]

Thank you both!

[kaiser78]

Hi all,

I have been lurking around for a couple of weeks and have found the posts here are incredibly valuable.

I am looking to turn from permie to contracting and am currently in two minds whether to go with an umbrella or Ltd. When the first contract arrives.

I will be looking for around £400 - £450 a day and will limit the travelling required. My gut instinct tells me I should go with an umbrella to start with, then Ltd. later. However, I understand that Ltd. will be more tax efficient but require more admin work with the help of an accountant.

Also, does anyone employ (or has a need to employ) an accountant when going with an umbrella company? For expenses, for example?

Any advice would be much appreciated.

Thanks.

What is your predicted rate based upon ? Make sure you are being realistic whatever it is and do loads and loads of research.

[mokster]

Thanks Kaiser.

I've based the prediction on speaking to a couple of agents and other contractors, so hopefully I can get my first contract around the rate.

I am currently a technical project manager (permie) with experience in delivering custom applications and have technical background in Java, SOA technical architecture inclduing security and performance testing.

I guess I'll need to be flexible on my first contract. (?)