Are LTD companies always the most income friendly way to go?

[GillsMan]

Erm....no you don't

Well, he kind of does in this situation, since if he's clearly going to be inside IR35 then there's really little benefit to him in setting up his LtdCo to be fair.

[pmeswani]

Well, he kind of does in this situation, since if he's clearly going to be inside IR35 then there's really little benefit to him in setting up his LtdCo to be fair.

I disagree. The way it was written assumes that in order to set up a Ltd Company, one needs to check their IR35 status. However, I believe that the OP should (not need to) check their IR35 status before setting up a Ltd Company, in order to make the best judgement on whether to go Ltd or brolly.

[jmo21]

Well, he kind of does in this situation, since if he's clearly going to be inside IR35 then there's really little benefit to him in setting up his LtdCo to be fair.

I've always been under the impression that even if IR35 caught, you'll still be better off with a Ltd.

Also, Sally's post said he HAD to.

[Jog On]

Is support catagorically inside IR35? Even with an outside contract?

[GillsMan]

I've always been under the impression that even if IR35 caught, you'll still be better off with a Ltd.

Also, Sally's post said he HAD to.

Ah yes, good point. He certainly wouldn't need to - but it would be advisable as, if inside IR35, with the daily rate he's on, I'm not sure that he'd save a lot of money going Ltd compared to umbrella tbf.

[pmeswani]

Is support catagorically inside IR35? Even with an outside contract?

IR35 isn't just about whether your contract is IR35 friendly or not. It's also about working practices. The argument is whether or not you are under direct control by the client, or if you have some free reign on how you do your job.

[Jog On]

IR35 isn't just about whether your contract is IR35 friendly or not. It's also about working practices. The argument is whether or not you are under direct control by the client, or if you have some free reign on how you do your job.

So in a support role you take calls as they come in, deal with them in the order you deal with them. You don't have someone giving you which calls to do in what order.. I don't see the difference between this and someone saying "I want this by that date"

Some of my earlier contracts were doing support and I had very little intervention from management. Just got on with it

[pmeswani]

So in a support role you take calls as they come in, deal with them in the order you deal with them. You don't have someone giving you which calls to do in what order.. I don't see the difference between this and someone saying "I want this by that date"

Some of my earlier contracts were doing support and I had very little intervention from management. Just got on with it

Ironically, in some places I have worked in (pre-contracting) there have been team leaders / managers who were responsible for allocating calls to the helpdesk team. So it wasn't the case of the helpdesk people taking the calls and dealing with it. However, as I said, it ultimately goes down to working practices.

[SueEllen]

Surely a forum is research, thanks everyone for the replies

Yes it is especially when it has search functionality to ensure that you get all the answers that people have forgotten to post.

Plus this site has some great links to contractor guides on different subjects under the panel with CUK Navigation.

[NotReallyButSeriously]

IR35 isn't just about whether your contract is IR35 friendly or not. It's also about working practices. The argument is whether or not you are under direct control by the client, or if you have some free reign on how you do your job.

I don't think I'm inside IR35, even though I don't fully understand it. (Is it to do with disguising yourself as an employee for the client?). I choose my own lunch, I choose to start at 8:00am every day. But I can't see how much else I can deviate from employee rules without being unprofessional. Support is easy and I just get on with doing the job.

Spoke to HSBC today about business accounts, apparently it's free for 18 months, followed by a free account for under £500,000 a year (Which is a shame because I earn five trillion thousand a week). So it would only be accountancy fee's and the little random things I find along the way. Will seriously consider it after this current contract has finished.