Originally posted by youngguy
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The problem is the wording is very vague. It talks about doing a similar trade or activity. HMRC have specifically stated (for example) liquidating an IT consulting Ltd Co to then take on a permanent job as an IT consultant would not be caught (barring some convoluted situations). They didn't specifically comment re umbrella.
Some people may argue umbrella is more like contracting than a permanent role, as can often be short term gigs, perhaps to do a specific project etc. However others will argue as legally you're an employee, taxed as an employee, it'd be safe. I fall into the latter camp, but that's just my opinion.
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