A bit new to all this

[windytech]

I am currently working for a major company as a wind turbine tech, but through a social/buisness site i have been offered a new role by a recruiter which would mean extensive travel. I had a telephone interview with the client company and was offered the job, however when i recieved e-mail comformation from the recruitment company they asked me to set up as a Ltd company. I then recieved a phone call within 5 minutes from an accountant trying to set it straight up. Basically I need to know whether its worth taking the role even though its a 6 month rolling contract or stick to a PAYE paid role. PLEASE HELP!

[NotAllThere]

Do you want the work? Then take the job. What's the problem? If you work through a ltd company, then there are various savings over being PAYE. If the daily rate is low, then you can opt for an umbrella company instead.

Only you can decide if it's worth it.

[moggy]

yep take it, it sounds perfect.

[Sally@InTouch]

I am currently working for a major company as a wind turbine tech, but through a social/buisness site i have been offered a new role by a recruiter which would mean extensive travel. I had a telephone interview with the client company and was offered the job, however when i recieved e-mail comformation from the recruitment company they asked me to set up as a Ltd company. I then recieved a phone call within 5 minutes from an accountant trying to set it straight up. Basically I need to know whether its worth taking the role even though its a 6 month rolling contract or stick to a PAYE paid role. PLEASE HELP!

It's worth asking if the accountant that called is the only one on the agency preferred supplier list (PSL). If not, ring a couple to get an idea of which is your most suitable trading option, as limited company is not always the best solution. You could do with some impartial advice!

Good luck :-)

[Jeremiah@RHJAccountants]

It's worth asking if the accountant that called is the only one on the agency preferred supplier list (PSL). If not, ring a couple to get an idea of which is your most suitable trading option, as limited company is not always the best solution. You could do with some impartial advice!

Good luck :-)

+1 I always think it is worth calling a 2 or 3 different accountants and seeing what initial advice they can give you on the Ltd v Umbrella option and also what service will work best for you.

I wish you the best

[Maslins]

Please please please do a bit of research into what you're getting yourself into.

Incorporating a Ltd Co may be a good idea, but be aware you're taking on lots of admin responsibilities, with stiff penalties if you do things wrong.

If you anticipate after 6 months you'll revert to PAYE employment, then (as an accountant who assists Ltd Co owners) I wouldn't bother setting up a company. The hassle to get it incorporated, register it for various taxes, get your head round how everything works, only to want to wind it down again in just over 6 months isn't remotely worth it IMO.

If you want to contract long term, fine, go for it, but do a bit of research. If not, ask them if they'll do it via an umbrella, as whilst you'll pay a little more tax that way, the hassle on you will be far less.

[Contreras]

I am currently working for a major company as a wind turbine tech, but through a social/buisness site i have been offered a new role by a recruiter which would mean extensive travel. I had a telephone interview with the client company and was offered the job, however when i recieved e-mail comformation from the recruitment company they asked me to set up as a Ltd company. I then recieved a phone call within 5 minutes from an accountant trying to set it straight up. Basically I need to know whether its worth taking the role even though its a 6 month rolling contract or stick to a PAYE paid role. PLEASE HELP!

Dunno about anyone else but to me that part stinks ^^.

Ask the agent to send you a draft contract, not just an email confirmation. If they whinge then stand your ground until they do. Make up a Co. name if they won't draft the contract without it but be clear that it is not set up yet. If you want to accept the role then do so "subject to contract".

Without knowing any other detail, as Maslins said the umbrella route is easier to back out of and you can always switch to Ltd Co. in 6 months if you decide to stick with contracting.

[LisaContractorUmbrella]

Agree with the other chaps - give it six months to see how you like contracting and then look at a Ltd Company. An umbrella company would be your easiest option at this stage - just bear in mind that your take home pay quote should be the same whichever company you contact other than the margin they retain - if you are quoted a much higher figure than others you are given it will generally be because that company has assumed a level of expenses that you may or may not be entitled to claim

[Scrag Meister]

I am currently working for a major company as a wind turbine tech, but through a social/buisness site i have been offered a new role by a recruiter which would mean extensive travel. I had a telephone interview with the client company and was offered the job, however when i recieved e-mail comformation from the recruitment company they asked me to set up as a Ltd company. I then recieved a phone call within 5 minutes from an accountant trying to set it straight up. Basically I need to know whether its worth taking the role even though its a 6 month rolling contract or stick to a PAYE paid role. PLEASE HELP!

Sounds like a dubious dodgy hand shake between the agency and the accountant. Personally I'd be looking for my own accountant on recommendation from other contractors not one semi-forced on me by my agent.

Don't rush, look around the site here, lots of threads about accountants and lots of helpful accountants too.

Company setup times are pretty short and sorted in a matter of days.

6 months is quite short, but if you enjoy the contracting you are all set to continue if renewed, or offered something else. I suppose it depnds on your long term view.

[Ticktock]

Ask the agent to send you a draft contract, not just an email confirmation. If they whinge then stand your ground until they do. Make up a Co. name if they won't draft the contract without it but be clear that it is not set up yet. If you want to accept the role then do so "subject to contract".

Yes, I don't see the problem with that. When I took my first contract position and didn't know whether I'd be using an umbrella or an Ltd the agency sent me a draft contract and just left the Supplier, Client and Candidate (i.e me) details blank.