Quick Advice Question?

[dspsyssts]

Newbie here

Been offered a contract 12 hr shifts x 15 a month @ £250 a day. 1yr renewable contract its been going on for donkies years....

What to do? Umbrella or Ltd Company? or?

Thanks...

[northernladuk]

I will get slated for this but seems no one has responded it's better than he has had so far.

USE THE SEARCH
READ THE STICKIES

This has been asked a million times over.

Thank you and goodbye.

P.s. LTD IMHO just to show I actually answered.

[dspsyssts]

Thanks I did search on Umbrella etc but it produced too many results and as this is a forum thought I would post the question.

It seems there is no right or wrong answer to the question anyway, so am happy to leave it there.

[Clare@InTouch]

Give one of the specialist accountants a call, they can talk you through the differences and provide examples of the income you can expect under each option with IR35 explanations too (along with the positive and negative points of each option).

[northernladuk]

Thanks I did search on Umbrella etc but it produced too many results and as this is a forum thought I would post the question.

Don't quite understand this one lol!!!!!!!

It seems there is no right or wrong answer to the question anyway, so am happy to leave it there.

Just for info, the general consensus on the forums when this is asked is that LTD is better for you financially but is a bit of a pain in the ass to set up and get to grips with. The advice seems to be go Umbrella for 6 months until you are sure you like contracting and going to stick with it. Get to know the crack with accounts?VAT/tax and the like and when you are comfortable switch to a LTD in your own time.

To start a contract, learn the culture (especially if you get a bad first gig) and the whole small business thing can be very daunting.

FYI thats what I did and managed to arrive ready to take on an LTD knowing just enough not to ask some of the tedious questions that keep cropping up on here at the moment.

[malvolio]

FYI thats what I did and managed to arrive ready to take on an LTD knowing just enough not to ask some of the tedious questions that keep cropping up on here at the moment.

They're not tedious! Apparently they're an exciting opportunity for us who have bothered to learn the rules to explain them to those who can't be arsed to and we should be grateful forthe chance to write it all out all over again.

What else are forums for, after all...