PSC via an Umbrella when have been working as Limited Company?

[fabhead]

I am looking at a role which is for a PSC and they are saying that they will only take contractore working through an Umbrella Company. Obviously this is due to the whole PSC inside IR35 thing. If I did decide to do this for a short term project, what would be the implications for me? I operate under a limited company currently, with one other person, who will be stayin in their current outside IR35 contract throughout, I am the Director (less take home, obviously, but am in a situation where that is acceptable)

[northernladuk]

We do have a whole area of the forums dedicated to this topic, including a host of posts from people in exactly your situation.

Public Sector IR35

So many in fact some one took the time to write a very detailed FAQ so people didn't have to ask.

http://forums.contractoruk.com/publi...bout-ir35.html

Going to be pretty complicated due to you sharing your company as per your other thread though. You'll need to read all that and then spend some time with your accountant unpicking your situation.

http://forums.contractoruk.com/gener...d-company.html

[fabhead]

yeah I've read the FAQs, thanks. I was specifically asking about the case where my limited company would need to keep going with the other employee while I was with the Umbrella, which doesn't seem to be covered. Presumably most people wind up their Ltd Co when they switch to Umbrella? Anyway, sounds like a massive PITA so I'll probably turn it down

[northernladuk]

I doubt you have an employee

I take it you didn't go down the different class of share route?

[fabhead]

yeah I did in the end. I've also now found this thread as well which is a bit more helpful if anyone else is after the same info: http://forums.contractoruk.com/publi...5-ps-role.html