Contractor Checklist.

[martinb]

If it's your first contract, I'd advise you to use an umbrella like Parasol to get you started. Running your own limited company is the ideal solution, but you do need to put some groundwork in to get you up and running. Despite the abundance of helpful advice about, I don't think it's possible to jump from permie to contractor without a bit of wiggle room at the beginning. There's a lot to take in. Once you're enjoying the contractor lifestyle of surfing the net a lot, you'll spend more time here and get to know a bit more about the obligations of running a Ltd.

Don't agree with this. I went from permie to contractor using Ltd company. It's not difficult and the important stuff is very quick to setup. I had my limited company setup (via these guys http://www.hanovercompanyservices.com/), submitted VAT registration, requested new employers pack from HMRC and had banking sorted out virtually within a day. I had no problem getting a business bank account - went with HSBC who my personal account was with. Free banking for first year. Although there seem to be a number of recommendations here for Cater Allan, personally I would never go with a bank that doesn't have internet banking. It was only later I found an accountant.

It really is very simple and quick.

[Badgers Armpit]

After relaxing with a couple of mojito's, I've now spoken to a couple of accountants & have formed my Ltd this morning. I want to get the contract sorted out ASAP so I can resign "officially" & then sort the other stuff out at leisure!

Bauer & Cottrell seem to be liked on here for contract reviews, so will probably get them to look it over.

[carpenteri]

Hi martinb,

If you don't mind asking, how much were your set up costs?

Cheers

Ian

[XLMonkey]

Hi martinb,

If you don't mind asking, how much were your set up costs?

Cheers

Ian

I have a little XL spreadsheet that covers all the setup & running costs for contracting (also calculates net income based on your daily rate and other variables). PM me and I'll send it on through.

[martinb]

Hi martinb,

If you don't mind asking, how much were your set up costs?

Cheers

Ian

Was a while ago now, but from what I recall getting setup was less than £100. The only costs is the company formation - check the fees listed on the link to the company formation agents in my earlier post. VAT registration, employers pack from HMRC, banking setup is all zero cost if you do it yourself although if you get an accountant to do it they may charge a fee.

There WILL be other costs in the early days of your business though - eg insurance, equipment etc

[autodial]

I've used Sarah @ Bauer and Cottrell give her a ring she is most knowledgable and could probably sort your contract out for you

[Jay54]

agreed, i dont start a contract unless its checked out by sara

[carpenteri]

Was a while ago now, but from what I recall getting setup was less than £100. The only costs is the company formation - check the fees listed on the link to the company formation agents in my earlier post. VAT registration, employers pack from HMRC, banking setup is all zero cost if you do it yourself although if you get an accountant to do it they may charge a fee.

There WILL be other costs in the early days of your business though - eg insurance, equipment etc

Thanks for the info

Cheers

Ian

[Denny]

I've used Sarah @ Bauer and Cottrell give her a ring she is most knowledgable and could probably sort your contract out for you

I had two very conflicting views from Qdos and Sara over my contract when I initially briefed them on my current working situation and IR35 position. In the end I decided to go with Qdos - probably because they told me what I wanted to hear.

[The Master]

I had two very conflicting views from Qdos and Sara over my contract when I initially briefed them on my current working situation and IR35 position. In the end I decided to go with Qdos - probably because they told me what I wanted to hear.

For £250+VAT I'll tell you what you want to hear.