Newbie Q - 3 month rolling contract - Umbrella or Ltd.

[TestMangler]

Funnily enough I would

Go on, tell us Lisa.....is it Bedouin ???

[LisaContractorUmbrella]

Go on, tell us Lisa.....is it Bedouin ???

No it's us - we're brilliant, awesome in fact

Sorry, been listening to positive affirmation tapes all morning, don't know what came over me

[Andrew@Wisteria]

IR35 is going to be a problem if it is a true rolling contract as well. It may well be umbrella is the best option regardless of length.

Very important point. If you decide to go down the Umbrella route for the first 3 months, and then get extended (and you're considering going Ltd) you should get your contract reviewed and also be fully aware of your net pay compared to an Umbrella arrangement.

[Eastendoflondon]

Hi All - After taking advice i think it's best to go the LTD company route(high daily rate).

I have one question you may be able to help with - if my contract ends in 9 months (December 2015)should i keep paying my accountant until end of financial year then dissolve the company? I gather this will be fairly straightforward in my case as my LTD co will be able to meet all it's obligations. Cheers.

[AJ1982]

Hi All - After taking advice i think it's best to go the LTD company route(high daily rate).

I have one question you may be able to help with - if my contract ends in 9 months (December 2015)should i keep paying my accountant until end of financial year then dissolve the company? I gather this will be fairly straightforward in my case as my LTD co will be able to meet all it's obligations. Cheers.

Yes, in the case of SJD Accountancy, the fee is monthly paid, but is for the whole year of service. Which you will need. I am not sure they cover closing down, that cost extra.

[Eastendoflondon]

I've been quoted £200 plus VAT from CapricaOnline to close down the company which seems reasonable imo. I will prob just use that option at end of the 9 months. Cheers.

[AJ1982]

Or just keep contracting, collect those bananas

[Kenny@MyAccountantFriend]

Depending on reserves in the company it may be more tax efficient to keep the company 'trading' for a full 12 month period as you would then be eligible for entrepreneurs relief, which you would not be after 9 months.