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Reply to: Umbrella Company & Ltd Company at the same time.

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Previously on "Umbrella Company & Ltd Company at the same time."

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  • Maslins
    replied
    Originally posted by 24772433 View Post
    Is it ok for a contractor to take a role which is umbrella/Paye only while he still pays himself a salary from his Ltd company?
    Yes.

    Originally posted by 24772433 View Post
    Would it be prudent to just stop paying a salary for the duration of the umbrella contract?, etc?
    I'd recommend it, yes. Should help you have a cleaner tax code, as otherwise HMRC will see you as having two PAYE jobs at the same time. You can still take dividends, and your company can still do everything else (eg invoice, submit VAT returns etc), you just won't be on the payroll for as long as the umbrella gig lasts.

    Leave a comment:

  • 24772433
    started a topic Umbrella Company & Ltd Company at the same time.

    Umbrella Company & Ltd Company at the same time.

    Hi guys,

    Is it ok for a contractor to take a role which is umbrella/Paye only while he still pays himself a salary from his Ltd company?

    Would it be prudent to just stop paying a salary for the duration of the umbrella contract?, etc?

    Thanks,

    Steve.
    Tags: None

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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
    2. Social / Events
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