When to change from brolly

[Gonzo]

If you go over the limit, you won't actually have to pay the tax until Jan 2010, meaning you can pay off more of your debts sooner as long as you're sure you can pay the tax when you need to.

Just don't forget the "Payment On Account" which will be a bit of a shock when it comes.

For those that haven't experienced that yet, the timeline would be:

Jan 2010 - 2008/09 tax bill + 50% 2008/09 tax bill
July 2010 - 50% 2008/09 tax bill

This way you avoid your tax bill for a year, but then it catches up with you and you have to pay two years worth in the space of six months.

[GreenerGrass]

Hi, anyone who uses a brolly (especially Parasol) and wants to get a statement of earnings or anything out of them, make sure you do it before you leave or it will take weeks of phone calls and emails.

And just to clear a few things up, brollies are barely any less hassle than running a Ltd. Add in the extra payment delays and additional party risk, and increased taxes and I wished I'd never even bothered (did it as a temporary move before setting up a Ltd.)
Parasol also completely messed up my taxes as they were paying the wrong rate, despite having all the correct paperwork. Useless.