Is there much Point of having a LTD company if your inside IR35?

[Pondlife]

hey pondlife

who do you use as an accountant?

£64 quid a month including Ltd co set up is a bargain.
does this also include bank account set up?
what about if you actually want to speak to the accountant do they charge a consultancy fee?

is the service you get any good?

Seting up company account is free (just walk into Abbey with your inc certificate)
Accountant is always available and provided plenty of advice when starting out. He even posts here.

I use Darren at 1st accountancy BTW.

[Bluebird]

hey pondlife

who do you use as an accountant?

£64 quid a month including Ltd co set up is a bargain.
does this also include bank account set up?
what about if you actually want to speak to the accountant do they charge a consultancy fee?

is the service you get any good?

My monthly fees went DOWN by £30+ when I moved from Brolly to Ltd - accountand is SJD - and they are NOT the cheapest.
Bank A/c set up is Free - go ask a bank.
I find the service MUCH better from SJD than the Brolly, my queries are answered a hell of a lot quicker and my money comes through quicker as it's not going through another middleman.

All in all much better.

[jh0711]

this all sounds great - i suppose an only concern would be that if there is a sudden rush for this sort of thing can the accountants that offer this service cope with the uptake or will they take too much on and cause service issue all round

hope not!

Also, I was of the impression that most brollies mean you having to fork out National Insurance twice (Employees and Employers). That was the deal breaker for me. I would be better of as a PAYE than I would in a brolly (but then my actual expenses wasn't that high).

if you are inside IR35 then your company has to pay you - in that case your company would have to pay the Employers NI and this would come out of your invoice value.

nowadays most agencies will only contract with a business (they do not wish to take employees on to their own payroll) so this £25 per hour contract you have is absolutely useless to you unless you have a business to put it through - use your own LTd can increase your return but you will still have to cover the employers NI costs out of the invoice value (remember the contract rate is not your rate of pay or salary it is the rate that yourco/yourbrolly is charging the agency for the work you do)

when your co or your brolly pay you they both have to ensure employer costs are met (employers Ni, holiday pay etc) assuming your co actuially pays you a salary and not just director fees and divdends (which you cannot do inside of IR35)