A quick IR35 ltd or umbrella question

[Mervalous]

I know this stuff has been done to death but I had one query, I have an interview on Wednesday and Im worried the contract may be difficult to make it outside of IR35. This being my first contract I am thinking if worst comes to the worst then Ill just have to be within IR35.

So if I have to fall in IR35 am I going to be better off being in an umbrella or does it still work out financially better to be in a Ltd?

Once I get the first contract out of the way Ill be able to be a bit more picky as Im current coming from a permy position.

if you're interested Im a Software Tester so my job would have to be onsite which is one of the reasons I think it may be difficult to get outside of IR35 but yes I will be getting it inspected by B&L

[Flat Eric]

I'd suggest using a Ltd company and setting aside the IR35 tax in a high interest account. Then if you are "assessed" and found to be in deemed employment then you can hand over the cash. Alteratively, in six years time. take the money and have a nice holiday or if your fancy being labeled a w&nker buy yourself a BMW*....

*Disclaimer : I'm about to purchase a BMW!

[Mervalous]

I'd suggest using a Ltd company and setting aside the IR35 tax in a high interest account. Then if you are "assessed" and found to be in deemed employment then you can hand over the cash. Alteratively, in six years time. take the money and have a nice holiday or if your fancy being labeled a w&nker buy yourself a BMW*....

*Disclaimer : I'm about to purchase a BMW!

sounds like a good idea, now this may be a silly question but when do I say "No Im not in IR35"? or is this something that all becomes obvious as I go along?

[pisces]

The way I see it is that IR35 is vague at best and given the results of cases against LTD's it is hard for the IR to prove you're in disguised employment whilst running a LTD.

However to answer the question I think you will still keep 5% more of your income via a LTD if you don't use brolley.

hth

[Mervalous]

OK cheers everyone, Ill just stick to LTD, the first gig is only going to be 3-6 months max anyway so I reckon that would help in any investigation.

Ill just send off the contract, see if I can get it to suit me best and just go outside of IR35 anyway, stick a load of the money as savings.

Thanks again, I hate asking about IR35 as I know it gets tiresome