Which umbrella - OrangeGenie vs Parasol

[rootsnall]

Exceptions, agents go bust too, as do ClientCos.

Yes but it does cut one extra risk out of the loop and shortens the amount of time that your money is not under your control. Regardless of the financial benefits of using a Ltd ( quite a few grand for me ) I personally wouldn't use an umbrella for this reason alone. I also found the admin required when working via an umbrella was actually greater than running your own limited.

[TheBigYinJames]

And that is your choice, of course. That does not preclude the rest of us offering advice when it is asked for and imho the best advice is to run a ltd co. rather than operate through a brolly.

And there's the rub. have a look at the title of this thread again.
Nobody was asking about Ltds, but yet again it's rammed down their throats like the One True Way whether they want it or not.

[TheBigYinJames]

I also found the admin required when working via an umbrella was actually greater than running your own limited.

I don't have any admin, apart from filling in one webform per month for my total hours/days worked and any expenses I want to claim.

[rootsnall]

I don't have any admin, apart from filling in one webform per month for my total hours/days worked and any expenses I want to claim.

My Ltd admin is a monthly invoice and then about an hour a quarter to send my accountant what he needs for the VAT return ( expenses and a bit of photocopying ) and then check my annual accounts and that's about it. It might seem a bit more hastle but with the right accountant it really isn't. Trust me

[TheBigYinJames]

Trust me

That's what my accountant said when I ran my own Ltd. And look where it got me.

[blacjac]

That's what my accountant said when I ran my own Ltd. And look where it got me.

Living in denial about loosing money for nothing?

[TheBigYinJames]

Living in denial about loosing money for nothing?

Yes, I suffered a tax investigation in the mid 90s, and this colours what I value in life. Running a Ltd and skirmishing with tax laws might seem fun when it's all going well - but if you trip and fall, it's a long way down, espcially if you have a new mortgage and a baby on the way, as I was. It ruins your life and you feel very differently about it afterwards.

So I'm not 'in denial' about how much money I'm 'giving away' - I have quantified it here and in other posts, and it's not much, in the region of £100-£150 a week. If it was £500 a week, then that would tip me over.

[blacjac]

£150 a week is not much for 20 mins work?

Thats £450 an hour.

[TheBigYinJames]

£150 a week is not much for 20 mins work?
Thats £450 an hour.

This 20 mins thing is bollux folks, I know you all enjoy bandying it around, but I ran a Ltd company for 4 years, I know what it takes. And it's not just quantifiable in terms of time spent doing clerical. You are thinking about it, worrying about it, having to chase accountants, keep track of submission days, etc, vet contracts to keep you out of IR35, pay money to the wasters at PCG, worry, etc. if you actually enjoy all that razmatazz, and many do, then great.

I don't need the stress.

[lambrini_socialist]

This 20 mins thing is bollux folks, I know you all enjoy bandying it around, but I ran a Ltd company for 4 years, I know what it takes. And it's not just quantifiable in terms of time spent doing clerical. You are thinking about it, worrying about it, having to chase accountants, keep track of submission days, etc, vet contracts to keep you out of IR35, pay money to the wasters at PCG, worry, etc. if you actually enjoy all that razmatazz, and many do, then great.

I don't need the stress.

indeed. currently i'm enjoying it, and doing the books might only take 20 minutes a week, but i spend way much more than that on actual financial planning. plus i was running around like a blue arsed fly for the first couple of weeks just getting everything set up (accountants, bank, agency, VAT etc etc).