Management Company or My Own Ltd?

[Rhys666]

Hi, I'm new here but wanted to get some questions answered in regard to the Thread title

I'm currently contracting on a role until the end of Feb next year, and have been contracting for close to two years. I fell into it following a redundancy and as it was not a planned thing I've been using the Giant management company, their 'Powerhouse' product. I've had some issues with them overpaying me, me paying back the excess and having it withdrawn from my 'pay' the susequent month as well. They're not good with contract queries either, or passing on changes to invoice submittal terms from agencies. Basically they can be as useful as a chocolate teapot at times, BUT I haven't had to do Tax returns, invoicing or any of the other gumph and gubbins involved in my own limited company as thats part of what I pay them for.

However, with more Tax changes coming up and me getting fed up with them I was looking to what I need to do in order to set up and manage my own limited company as a contractor, what is actually involved, what I'd have to do managing the company week to week and all the rest.

I've been looking at various sources such as here, QDos Consulting and SJD Accountancy and thought I'd ask a wider range of people at the coalface.

Any thoughts?

[expat]

Hi, I'm new here but wanted to get some questions answered in regard to the Thread title

I'm currently contracting on a role until the end of Feb next year, and have been contracting for close to two years. I fell into it following a redundancy and as it was not a planned thing I've been using the Giant management company, their 'Powerhouse' product. I've had some issues with them overpaying me, me paying back the excess and having it withdrawn from my 'pay' the susequent month as well. They're not good with contract queries either, or passing on changes to invoice submittal terms from agencies. Basically they can be as useful as a chocolate teapot at times, BUT I haven't had to do Tax returns, invoicing or any of the other gumph and gubbins involved in my own limited company as thats part of what I pay them for.

However, with more Tax changes coming up and me getting fed up with them I was looking to what I need to do in order to set up and manage my own limited company as a contractor, what is actually involved, what I'd have to do managing the company week to week and all the rest.

I've been looking at various sources such as here, QDos Consulting and SJD Accountancy and thought I'd ask a wider range of people at the coalface.

Any thoughts?

Well, what questions do you have that are not answered by the 3 sticky threads at the top of the "Accounting / Legal" board on this site, especially the 1st one?

[malvolio]

Thud....thud....thud....


The usually quoted suspects (that's Darren, SJD and NW) will set up the company for a vanishingly small fee. Running it with their help is not difficult nor time consuming. There are few real risks, provided you understand the rules and requirements and don't try to be clever or imaginative with them. It makes more money than any "managed" solution, even without Gordon's little games.
Why are you even thinking about it? JFDI - and join the PCG...