umbrella or ltd

[leer34]

would appreciate any feedback,

about to start a potentially long term contract,

will probably start with umbrella and once position is established will start ltd,

looking for recomendations for umbrella's

regards

[Green Mango]

would appreciate any feedback,

about to start a potentially long term contract,

will probably start with umbrella and once position is established will start ltd,

looking for recomendations for umbrella's

regards

Limted is more tax efficient, but slightly more work.

If you are confident of the contract I would start Ltd company

[leer34]

thanks for the reply, doesnt a business bank account take about 6 weeks to setup? im due to start position in next 1/2 weeks?

[Zippy]

Ok chap - you are in the wrong section. Have a look at the Business area of the forum.
I'd go with umbrella and move to ltd if the contract pans out OK. Best of luck.

[Zippy]

thanks for the reply, doesnt a business bank account take about 6 weeks to setup? im due to start position in next 1/2 weeks?

Yep. Could well do. If you need the income faster go umbrella and set up the ltd in the meantime. When the bank acc is confirmed get the agent to change the contract to your new ltd (most will do this, but not all so be careful)

[leer34]

thinking its what i will do, anyone any dealings with crystal umbrella?

[stek]

thinking its what i will do, anyone any dealings with crystal umbrella?

Me, they were ok but are now disputing some timesheets with me, six months after I left - their errors saying i have to pay back. Trouble is I have 30 months of weekly timsheets to reconcile cos they put so many 'adjustments' and reversals through, that part was a pit of mess. Job for next night shift. they are holding 8k tax back to til I sort it - not sure if that's legal, it's not my money, it's the Taxmans....

Be wary of going LLP, as u pay no class 1 NIC u won't get JSA if things go tits up unless u paid some Class 1 NIC in the preceding two tax years.

[BolshieBastard]

Like I always say, just say 'No!' to brollies

[TheFaQQer]

will probably start with umbrella and once position is established will start ltd,

No, you won't. Once you are with the umbrella, you'll probably find that you are stuck with them until the end of the contract. Make sure you read the small print.

As for recommendations, I've never used one, but have a look at ContractorUmbrella and see what they say.

[MarillionFan]

Ok chap - you are in the wrong section. Have a look at the Business area of the forum.
I'd go with umbrella and move to ltd if the contract pans out OK. Best of luck.

Yes sorry mate, you are completely on the wrong board. This is the CUK General Forum, so unless you'd like to tell us about your lunch or play a word game Zippy aint gonna help you.

I would recommend LTD though. It's not really much hassle, is cheaper than an umbrella and if you're based in the Hampshire/Surrey/Berks area PM me and I'll give you the accountant I use and you can get a free quote.

HTH

MF