Giant Trailblazer is gone, what are my options?

[PAG]

My recommendation would be to go LTD. If you went to Umbrella and went PAYE you will take the hit of Employers NI. If you wish to go this route then probably you are better off going PAYE to Gaint at least this way you will get the refund of settting your co up.

Going Ltd route is inevitable .... (provided you are outside IR35). So my question toyou would be .... why prolong the inevitable ????

[malvolio]

My recommendation would be to go LTD. If you went to Umbrella and went PAYE you will take the hit of Employers NI. If you wish to go this route then probably you are better off going PAYE to Gaint at least this way you will get the refund of settting your co up.

Going Ltd route is inevitable .... (provided you are outside IR35). So my question toyou would be .... why prolong the inevitable ????

Because he only has two days and what looks like a lot of learning to do. I have always said to use an umbrella to get started if you aren't fully up to speed on the myriad realities of contracting.

[PAG]

A LTD company can be set up in a day !!!

[tim123]

A LTD company can be set up in a day !!!

Yes, but try getting a bank account sorted that quickly!

tim

[francesm]

I think it's a bit harsh saying that Peter had not prepared. I too was with Giant, and was very surprised to read that they had pulled the trailblazer service, just a few days before the new tax year. Until that point, we were under the impression everything would be in place on time.

Peter, the company that you setup through Trailblazer, should be completely under your control already - all Giant did was to provide advice on how to fill in the forms. I think you just need to find an accountant and open a business bank account. Also talk to your agency about transferring the contract from Giant to your new company.

I am in the exact same situation as you. For 6 April, until I get things sorted, I (and you probably) will be paid through Giant's umbrella service, Strongbox (meaning much less take home), but I am now getting in touch with an accountant so that I can begin trading through the new company.

Let me know how you get on - you're not alone! Anyone else out there in the same predicament?

Frances

[malvolio]

Yes, Giant have dropped a lot of people in it, but the fact you were thinking of staying with Trailblazer is the real problem, IMHO. It was made fairly clear that the obvious workarounds to MSCs would be closed off and any such scheme would have had a very limited shelf-life. Given that Gay Gordon sees MSCs as purely a tax avoidance scheme (and to be brutally honest many people have some sympathy with that viewpoint) and is taking positive action against them, you should have been getting as far away as possible.

It's dead easy, really, if a little harsh. If you want the tax breaks of being a business, then operate like a business. If you want simplicity and comfort, use an umbrella. What you can no longer do (or it is incredibly difficult to do) is use a third party for the donkey work and retain the tax breaks.