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[Jefferson]

If you want to use an Umbrella then I agree with the others who have recommended Parasol IT.

[scooterscot]

Hi guys, new to this so please be gentle. Looking at contracting at ways of running the payroll etc.

Companies looked at so far are Parasol IT, Green Lantern, Giant, Prosperity 4, Brooksons, Orange Genie and Plan IT.

Now thoroughly confused, so would appreciate any input as to who and why I should really consider.

I've been using Giantgroup for the last year and I've not had any problems with them. they cost £35 per week no matter the rate your on, I've no problem with that for someone to make my life easy. They will also give you IR35 insurance for up to 2 years after the end of your contract under the powerhouse agreement.

[VectraMan]

Can recommend Parasol as well. Been with them for 3 months on my first contract and they've been great and made the whole thing completely painless, which is a big bonus if you're doing this for the first time and are a little uncertain.

[RussellWest]

Try these guys. I've been using them for a while

I'm not going to disagree with the others regarding Ltd. But for ease of operation and hassle free life I have been going with Atlantic Umbrella.

For initial cash flow they offer something Parasol don't: payment on receipt of time sheets. I'd recommend them. I've had no problems at all with em. More than I can say for others. Please take this advice if nothing else: Avoid P4. I had serious problems getting my money from them. I expect others will agree too.

Good luck. If you want I can put you in touch - drop me a line.

[DaveB]

Thanks for advice so far, and I have also avidly read some of the other threads. Being new to this I'm still put off by setting up a Ltd Co, in case I decide not to stay contracting.

I just started my first contract and went the LTD + Accountant route. Yes it's a bit more money up front for the company formation but it's not a huge amount and will pay for itself over the course of your first contract.
After that it can only save you money, even if you decide to go back to permiedom eventually.

I use SJD as my accountants, give 'em a ring, they are always happy to chat to prospective customers and give some general advise.

[Contractor]

I use Filetravel as my umbrella company they have a website and show their fees online too.

[Robot]

I use Filetravel as my umbrella company they have a website and show their fees online too.

With filetravel do you get your own limited company? Are you the sole employee / shareholder?

If yes, can I ask, who keeps the bank interest earned on the Corporation tax / VAT / PAYE funds? (PAYE, VAT and Corporation tax is collected monthly and paid quarterly CT is paid 9 months and day after the year end).

The bank interest must run to a couple of hundred quid a year.

Robot