Timing the Switch from Ltd to Umbrella

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Wijay@WISAccountancy replied

23 July 2015, 11:57
Originally posted by mongle View Post

Hi

Have been toying with the idea of closing the LTD using MVL and then going the brolly route.. but am not sure if the timing would be right if i do it now. My current contract runs till Dec, so will it be be an issue changing it to brolly mid way or is it better to wait till end of contract. Also, does one need to wait till LTD is closed before going brolly or is it enough to have just initiated the process.

You also need to be mindful of Accounting year end dates, Corp tax filling dates etc. Pls read other things you need to consider on this thread..
http://forums.contractoruk.com/accou...l-query-3.html
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LisaContractorUmbrella replied

23 July 2015, 10:56
Originally posted by mongle View Post

Hi

Have been toying with the idea of closing the LTD using MVL and then going the brolly route.. but am not sure if the timing would be right if i do it now. My current contract runs till Dec, so will it be be an issue changing it to brolly mid way or is it better to wait till end of contract. Also, does one need to wait till LTD is closed before going brolly or is it enough to have just initiated the process.

Firstly you will need to speak to your agency/client to ascertain whether or not they would be happy to enter into a new contract with an umbrella company at this stage of your assignment. If they are then there is no reason why you can't move as soon as the new contracts are signed - you won't need to wait until the Ltd is closed down
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cojak replied

23 July 2015, 06:32
I'm not sure that using an Umbrella is what is meant by going permie in this instance.
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SueEllen replied

23 July 2015, 06:14
Good idea to find out if your agency/ client will change who they pay before a renewal first, don't you think?
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malvolio replied

22 July 2015, 22:54
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mongle started a topic Timing the Switch from Ltd to Umbrella

22 July 2015, 22:51
Timing the Switch from Ltd to Umbrella

Hi

Have been toying with the idea of closing the LTD using MVL and then going the brolly route.. but am not sure if the timing would be right if i do it now. My current contract runs till Dec, so will it be be an issue changing it to brolly mid way or is it better to wait till end of contract. Also, does one need to wait till LTD is closed before going brolly or is it enough to have just initiated the process.
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