Diversifying the business

[BlueSharp]

I have been contracting now for a while now and I'm planning on growing the business portfolio. Due to a change in circumstances, I'm looking at helping my wife start a business where she can work from home. The current idea is diversifying into recruitment consultancy that specializes in my skill set and look for placements for me initially. As the company grows we will look to place others or consult with other contracts who might like to try the same diversification route.

Has anyone tried this who would like to share their experiences?

As a side thought: If she sets up as a limited company agency and my company is paid through her company like a proper PSC/Agency/ClientCo relationship, but myCo's fee is only 1/5 of it's normal fee (to help reinvest in the agency business). Would there be any risk to the new limited company from Hector in terms of IR35.

[Taita]

I have been contracting now for a while now and I'm planning on growing the business portfolio. Due to a change in circumstances, I'm looking at helping my wife start a business where she can work from home. The current idea is diversifying into recruitment consultancy that specializes in my skill set and look for placements for me initially. As the company grows we will look to place others or consult with other contracts who might like to try the same diversification route.

Has anyone tried this who would like to share their experiences?

As a side thought: If she sets up as a limited company agency and my company is paid through her company like a proper PSC/Agency/ClientCo relationship, but myCo's fee is only 1/5 of it's normal fee (to help reinvest in the agency business). Would there be any risk to the new limited company from Hector in terms of IR35.

Does your wife have recruitment consultancy experience?

[northernladuk]

I Would there be any risk to the new limited company from Hector in terms of IR35.

I would suggest that you attempt to understand at least the basics of regulations that apply to you before you even attempt to start working with other people who will know a whole lot more about it than you seem to.

I smell yet another agency that doesn't have a scooby about IR35... great

[jmo21]

I would suggest that you attempt to understand at least the basics of regulations that apply to you before you even attempt to start working with other people who will know a whole lot more about it than you seem to.

I smell yet another agency that doesn't have a scooby about IR35... great

They all have to start somewhere!

[No2politics]

I opted out of IR35 in this contract

[SueEllen]

I opted out of IR35 in this contract

Please read the information under CUK navigation before you write such silly statements.

[MyUserName]

Please read the information under CUK navigation before you write such silly statements.

Smells like a wind up ....

[No2politics]

Smells like a wind up ....

Correct!

[BlueSharp]

I would suggest that you attempt to understand at least the basics of regulations that apply to you before you even attempt to start working with other people who will know a whole lot more about it than you seem to.

I smell yet another agency that doesn't have a scooby about IR35... great

Well there would be if I owned a sizeable percentage of the agency and was paid divs...

[northernladuk]

Well there would be if I owned a sizeable percentage of the agency and was paid divs...

That comment is even more ridiculous than No2Politics's comment and he said that in jest!

Please post the name of this new agency so I can avoid it like the plague.

I would forget about your wife's business and start looking at trying to understand your own first.