Umbrella Vs Ltd Company Specifics..

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kaiser78 replied

7 April 2010, 19:45
As above and generally speaking you should normally be better off via ltd co than umbrella. As the guys say do a search, if no joy, the forum will be more than happy to advise...
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cojak replied

7 April 2010, 18:19
Look in the Accounting/Legal forum...
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northernladuk replied

7 April 2010, 17:32
you are probably going to get flamed for this post but...

Absolutely correct.

Any other observations you can see that need mentioning?

Yes I have one. Read wealth of advice on here and do a bit of research before posting lazy questions. There are stickies, advice and also a lot of threads asking exactly the same question that can be found with a good 30 seconds effort. Probably longer than it took you to write that. Next.
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original PM replied

7 April 2010, 13:57
you are probably going to get flamed for this post but...

if your contract is outside IR35 and dividends are available for you you will probably be able to obtain a slightly higher take home than you are now depending on what other legitimate company expenses you may have.

and before you ask what IR 35 is search this site and use google.

all in all if you have no great desire to start up your own business and run it properly as a business as opposed to just a tax avoidance vehicle then stick with the brolly
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Kalinikta started a topic Umbrella Vs Ltd Company Specifics..

7 April 2010, 13:11
Umbrella Vs Ltd Company Specifics..

Hi all, I am looking for a bit of advice on which whether I should stick with my Umbrella company or switch to a Ltd company; and the facts are below to help you provide your opinion:

1 I have a ltd company already for a business I set up but never traded.

2 My current umbrella company charges me about £12 a week and are "quite good" which is all I can expect really.

3 My rate is £900 a week and im taking home about £625. I am claiming for lunch £25 a week, travel on my Oyster card £40 a week and PIE's at £25. There is nothing else which i regularly claim for.

If i switched to an accountant, based on what you guys know, would it be worth their fee in terms of an increase in take home pay each week? Putting it another way, what amount do you think i would take home if the weekly £900 went through my accountant?

Any other observations you can see that need mentioning?

Thanks In Advance

K
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