Umbrella VS FTC (Advice to my situation!)

Good morning,

Been lurking for some time now, first post!

I've been working as a sole trader since July last year and the agency I'm currently at has said going forward as of next week I have to choose one of the two options:

Take FTC at 61k or charge £330 day rate to an umbrella till mid April.

Any help would be amazing please. Not great at figures...

Cheers!

[eek]

How can you be working via an agency as a sole trader - that hasn't been legal since the 70s.

Also what happens after mid April as that £61k figure makes zero sense if you are only working there for another couple of months so you are asking us to compare apples with horses.

[northernladuk]

We've at least five threads running on this theme right now let alone historically. You've also posted this in completely the wrong section. This could have gone in Accounting, IR35 reform or Umbrella sections. Have a look around those sections of the forum and you'll find a raft of threads from other people asking exactly the same.

Read those first then come back with some more specific questions. The question is far too simplistic for us to start explaining it all from scratch again.

EDIT : Although it's in the wrong section there is one right below this one as we speak.

[eek]

Sorry for posting in the wrong place!

I've been freelancing since July and invoicing them monthly. Next week I can't do that. They want FTC or umbrella.

For me, I just want to know what's better financially out of the two.

And as I pointed out above - you haven't given us enough information and what you claim to have been doing hasn't been legal since the late 1970s.

[johndoe123]

I'll get in touch with my accountant. Thanks for your help.