Contractor limited company

[tarbera]

Can I ask a simple question ?


Why are you thinking this?

[jmo21]

Hi

myself and a colleague are thinking of setting up a company up and undertaking various project management roles on contract day rate. We wanted to know if its possible to set up as a limited company when doing day rate work as contractors. if we sign a deal to work 12 months as a contractor can we still put this through a limited company

Thanks

well, obviously, that's what consulting companies are.

You COULD do this, if the view is to become a "real" consulting company, but be aware of the below, and how it could affect you if you are both just contractors. What happens when one is earning and/or working more than the other?

Are you both working on your own gigs and just sharing contracts or do you both come as a package with a single charge to the client. I wouldn't advise sharing a Ltd company if you are both working on your own contracts.

[washed up contractor]

Hi

myself and a colleague are thinking of setting up a company up and undertaking various project management roles on contract day rate. We wanted to know if its possible to set up as a limited company when doing day rate work as contractors. if we sign a deal to work 12 months as a contractor can we still put this through a limited company

Thanks

Hourly paid contracts were all the rage once, now day rate appears to be the norm. Nothing stopping you taking work as either hourly paid, day rate or any other period.

What I would caution against however is what are you going to do if one of you works more often than the other or one secures a higher rate than the other? What are you going to do if one has to work at the other end of the country with big expenses while the other has hardly any?

Presumably you arent both going to work the same contract and share the day rate?

[northernladuk]

Are you both working on your own gigs and just sharing contracts or do you both come as a package with a single charge to the client. I wouldn't advise sharing a Ltd company if you are both working on your own contracts.

Before the stickies my portly Scot pertains to I'd suggest reading newbie guides on the right top to bottom.

[fatJock]

Yes, set the company up and have the contracts made using the new limited company name as the legal entity providing the service.

I'd encourage you to read some of the stickies on these forums for some of the fundamental information.

[belshc4120]

Hi

myself and a colleague are thinking of setting up a company up and undertaking various project management roles on contract day rate. We wanted to know if its possible to set up as a limited company when doing day rate work as contractors. if we sign a deal to work 12 months as a contractor can we still put this through a limited company

Thanks