Switching from Ltd to Umbrella

[Dan@OrangeGenie]

Hello

I am an IT contractor. Several years ago I used an umbrella company. That company was subject to the DOTAS scandal (whole other story), so I switched to Ltd company using Nixon Williams. There service has gone down the toilet lately. Also, I have never been very good at saving enough cash to pay the self assessment bill when it comes through.

I am thinking umbrella company may be better for me, but I obviously have concerns.

Assuming a day rate of £350, is there much difference in take home pay these days?

Finally, which umbrellas are the most respected at the moment?

When you say 'is there much difference in take home pay these days?' Are you referring to Ltd v Umb? if yes and you have been operating outside IR35, then yes a fair difference.

Re 'respected Umbrellas' its FCSA accreditation you want to look out for. This ensures the Umbrella company has been through rigorous checks that satisfy HMRC requirements.

[northernladuk]

For you my friend, of course....

Get in there!!!!! Lucy, you reading this??

Anyone need a good umbrella recommendation?

[simondolan]

Simon, do you give iPads out for referrals?

For you my friend, of course....

[malvolio]

BTW if you're the same poster as was asking about advice over unpaid tax bills, you may not have the option. Undischarged bankrupts can't be company directors...

[lucyclarityumbrella]

Hello

Hi EndoftheRoad, happy to help As has been said there should be very little difference with regards to take home (calculation example). If you are still likely to look at some contracts inside IR35 and some outside (22nd dependent), then you can always opt to use our switching service, so only one monthly charge whether you are Ltd or brolly. Give us a shout if you want us to talk you through it.

[lucyclarityumbrella]

Simon, do you give iPads out for referrals?

[northernladuk]

Thanks for the recommendations to Con Umb. Lucy and the team will look after you admirably. If you ever do decide to switch back to Ltd, you can do that without charge, same fee using Dolan Accountancy. No need to shuffle between suppliers these days and all the hassle that can sometimes bring.

Simon, do you give iPads out for referrals?

[simondolan]

Ltd to Umbrella

Thanks for the recommendations to Con Umb. Lucy and the team will look after you admirably. If you ever do decide to switch back to Ltd, you can do that without charge, same fee using Dolan Accountancy. No need to shuffle between suppliers these days and all the hassle that can sometimes bring.

[stek]

Hello

I am an IT contractor. Several years ago I used an umbrella company. That company was subject to the DOTAS scandal (whole other story), so I switched to Ltd company using Nixon Williams. There service has gone down the toilet lately. Also, I have never been very good at saving enough cash to pay the self assessment bill when it comes through.

I am thinking umbrella company may be better for me, but I obviously have concerns.

Assuming a day rate of £350, is there much difference in take home pay these days?

Finally, which umbrellas are the most respected at the moment?

Not a huge difference if you have minimal expenses and tend to draw the lot personally. Even less soon when Hector gets his way and IR35 extends to all contractors. You will be worse off though.

Contractor Umbrella seems to be the most recommended and once promised a free iPad NLUK was desperate to get (but failed).

[northernladuk]

Lucy at Contractor Umbrella. She posts on here regularly in the Umbrella section. She will probably pop on and say hello shortly as well.

The have a calculator on their site if you want to check the figures.

[EndoftheRoad]

Hello

I am an IT contractor. Several years ago I used an umbrella company. That company was subject to the DOTAS scandal (whole other story), so I switched to Ltd company using Nixon Williams. There service has gone down the toilet lately. Also, I have never been very good at saving enough cash to pay the self assessment bill when it comes through.

I am thinking umbrella company may be better for me, but I obviously have concerns.

Assuming a day rate of £350, is there much difference in take home pay these days?

Finally, which umbrellas are the most respected at the moment?