Pregnancy/Maternity Questions

[northernladuk]

Smart stuff. How come you went brolly rather than LTD?

[formant]

Smart stuff. How come you went brolly rather than LTD?

I've done freelance work as a sole trader in the past. To be honest, I can't be bothered dealing with my own taxes, nor have I had great experiences working directly with accountants (although I'm sure there are plenty of decent ones out there). Also, this all happened somewhat short-notice, so going umbrella seemed like the easier option.

Should contracting work out for me in the long run I would probably give the ltd route a shot though.

[d000hg]

1)You'll have to take at least a little time off, you'll be in hospital!
2)Isn't it forbidden to fly when seriously pregnant?

[formant]

1)You'll have to take at least a little time off, you'll be in hospital!
2)Isn't it forbidden to fly when seriously pregnant?

1) Yes, either way I'll find a way to take at least 2 weeks.
2) Airlines have restrictions, but usually not before 8 months (36 weeks), some want a medical letter clearing you to fly from 28 weeks. I'll be nowhere near that limit when I'm flying at 23 weeks, luckily. This is likely to be the only time I travel for this contract.

[northernladuk]

I've done freelance work as a sole trader in the past. To be honest, I can't be bothered dealing with my own taxes, nor have I had great experiences working directly with accountants (although I'm sure there are plenty of decent ones out there). Also, this all happened somewhat short-notice, so going umbrella seemed like the easier option.

Should contracting work out for me in the long run I would probably give the ltd route a shot though.

It most definitely will. Get a decent accountant, I would recommend some of the contractor specialists that post on here and they can do most of the work for you. Mail you when to fill summat in, send you nice spreadsheet to put everything in with clever sums n stuff. Nice and easy. If you are going to be there 3 years I am sure it will be a lot better for your pocket. Could try some of the calculator sites to do a comparison of take home between the two.

Do 6 months brolly, get your feet under the table, pregnancy out of way and when you are cruising the gig switch to LTD. Worth the effort IMO. If you can't be bothered to do it for you do a deal with yourself and go LTD and stick the extra in a little pot for junior. That will make it worth it

[formant]

It most definitely will. Get a decent accountant, I would recommend some of the contractor specialists that post on here and they can do most of the work for you. Mail you when to fill summat in, send you nice spreadsheet to put everything in with clever sums n stuff. Nice and easy. If you are going to be there 3 years I am sure it will be a lot better for your pocket. Could try some of the calculator sites to do a comparison of take home between the two.

Do 6 months brolly, get your feet under the table, pregnancy out of way and when you are cruising the gig switch to LTD. Worth the effort IMO. If you can't be bothered to do it for you do a deal with yourself and go LTD and stick the extra in a little pot for junior. That will make it worth it

Yes, if they do keep me as per my contract, I shall definitely look into going ltd - also because if it's going on for the whole first year it's likely to go on for more than 24 months, and even though I won't be claiming much in expenses, I still don't want to backtrack about those later on.

[northernladuk]

Yes, if they do keep me as per my contract, I shall definitely look into going ltd - also because if it's going on for the whole first year it's likely to go on for more than 24 months, and even though I won't be claiming much in expenses, I still don't want to backtrack about those later on.

Same risk as you claiming any expenses under your brolly surely? Anyway, bear it in mind. I think the returns would far outweigh expenses.

[formant]

Same risk as you claiming any expenses under your brolly surely? Anyway, bear it in mind. I think the returns would far outweigh expenses.

Yeah, sorry, what I meant was that if this contract lasts over 24 months I'll have to backtrack on my expenses anyway, even though there won't be loads. So even more incentive to move to ltd sooner rather than later.

[northernladuk]

Yeah, sorry, what I meant was that if this contract lasts over 24 months I'll have to backtrack on my expenses anyway, even though there won't be loads. So even more incentive to move to ltd sooner rather than later.

Erm, I think you are mixing two things up. There is not claiming expenses because this is a single assignment and therefore your permanent place of work under a brolly and there is the two year rule.

Two year rule means you have to stop as soon as you know you will be at your current location over two years. If you take contract renewals up to 19 months and then take a 6 monther taking you to 25 you cannot claim expenses for the 6 monther.

The two year clock will continue to tick from the day you start brolly or no brolly. It's about location. And that is only travel and subsistence. Not other things for your company like equipment, and the like.

Sorry if you knew this already and it's me that is confused.

[formant]

Erm, I think you are mixing two things up. There is not claiming expenses because this is a single assignment and therefore your permanent place of work under a brolly and there is the two year rule.

Two year rule means you have to stop as soon as you know you will be at your current location over two years. If you take contract renewals up to 19 months and then take a 6 monther taking you to 25 you cannot claim expenses for the 6 monther.

The two year clock will continue to tick from the day you start brolly or no brolly. It's about location. And that is only travel and subsistence. Not other things for your company like equipment, and the like.

Sorry if you knew this already and it's me that is confused.

Ah that clarifies things. I thought that the 24 months thing also worked retrospectively. Glad it doesn't, makes more sense that way. Either way, ltd seems to be highly preferable regarding take-home pay, so I'm sure I'll switch eventually.