Reply to: Emulating an MSC ??

[TheFaQQer]

isn't there something about 5% expenses when inside but ltd rather than brolly ?

Yes. You can knock off 5% expenses as Ltd but not as an employee through a brolly.

[Bluebird]

Flat rate VAT scheme?

My accounts fees are less than brollies admin fees too so it was a no brainer even if I had been caught by IR35.

isn't there something about 5% expenses when inside but ltd rather than brolly ?

[Dark Black]

I still cannot see how a Ltd with an accountant is more effective than a brolli with simular fees; the taxation is the same when inside IR35.

Flat rate VAT scheme?

My accounts fees are less than brollies admin fees too so it was a no brainer even if I had been caught by IR35.

[Grim Reaper]

Dave, Thanks for the offer and I do not object to you offering advice. The job that had to go under Hayes fell to pieces the moment they got involved. All they had to do was post me a contract to sign as I was sourced directly by the client with an agreed start date. After a start date was set, the role then changed into a 24/7 rota with no paid OT until you worked 8 hours in lieu. Therefore declined.
I still cannot see how a Ltd with an accountant is more effective than a brolli with simular fees; the taxation is the same when inside IR35. Outside its a no brainer off course.

[david@purpleaccounts.com]

Its not as if l'm trying to hide anything, l actually have a banner ad at the top of the page!! I'd have thought free advice from professionals would be rather attractive.

[TheFaQQer]

I'm guessing that the amount of advertising they are paying for on the site atm gets them some leeway....

Some accountants will do anything to get the business, won't they

[DaveB]

I'm guessing that the amount of advertising they are paying for on the site atm gets them some leeway....

[Bluebird]

No - Terms and Conditions of Forum.

6. No advertising or marketing of any kind, including non-profit organisations, not even subtle stuff, ever. Please use your company name as a user name to identify yourself when offering unbiased, expert advice. We will not accept any "hard sell" on your services or products within those posts however. No URLs or sales spiel on sigs either.

[Bluebird]

is this sort of blatent advertising allowed on the forum ?

[david@purpleaccounts.com]

Ltd is definitely the best option from a tax perspective. If you don't want to do the paperwork yourself, then get an accountant who has experience of dealing with contractors. An accountant will be acting in a professional capacity providing advice as an accountant, therefore not caught by MSC legislation. You as a Director of the ltd co must have total control of the bank account. If you contact me directly, l'd be happy to send you a comprehensive guide to running a ltd co. david@purpleaccounts.com

[Dark Black]

<snip>

Yo... another Death!

Go Ltd again - worth it even if you are deemed to be inside IR35, and you have better control over your money.

Umbrellas have their place - mainly if you're not sure contracting is for you and just want to try it out. But if you're long term serious then Ltd all the way...

Now... where did I leave my scythe?

[andy-moo]

Cheers, I am going to look into it in more depth.

[Bluebird]

iam with danbro, under their brollie at moment who have been spot on, but since i joined my skills portfolio has increased alot (thus getting payed more) so i may consider forming my own Ltd with them.

Is it alot more hassle though?? as i am quite lazy.

No it's not too much work, and you should improve your takehome.

When I went LTD I improved my takehome from 65% to over 80% - well worth the hour or so it takes me each month.

[andy-moo]

iam with danbro, under their brollie at moment who have been spot on, but since i joined my skills portfolio has increased alot (thus getting payed more) so i may consider forming my own Ltd with them.

Is it alot more hassle though?? as i am quite lazy.

[dude69]

Just go LTD again. This time get a better accountant.

or DIY, and then just pay someone to do your year-end stuff, if you're not confident.