Reply to: LTD Company or PAYE

[cojak]

What is wrong with posting a number? Are people not entitled to the option of verbal advice?

Please read the T&Cs for the CUK forums. You'll find that blatant advertising or touting for business is not allowed. You are allowed to promote yourself and your company while giving advice with the login of your company - ScottMac@MyCo.com. Ask Admin who will do this for you.

So give advice on the forums, don't give out your number.

[ScottMac]

I want to remind the regulars of this forum to help newbies in Professional forums, not belittle their rates or experience.

I have no problems telling them to use Search but other banter (and I'm looking at you SS) is not acceptable (I've already removed a spammer from this thread offering their 'services').

If you can't help the OP at least point him to the thread that will.

Actually, I will.

Setting up your IT contractor company - Limited, Umbrella or PAYE? :: Contractor UK

There are specialists on these forums who offer advice (not simply throw out a phone number, SM), if you want to contact any of them please feel free.

What is wrong with posting a number? Are people not entitled to the option of verbal advice?

[cojak]

I want to remind the regulars of this forum to help newbies in Professional forums, not belittle their rates or experience.

I have no problems telling them to use Search but other banter (and I'm looking at you SS) is not acceptable (I've already removed a spammer from this thread offering their 'services').

If you can't help the OP at least point him to the thread that will.

Actually, I will.

http://www.contractoruk.com/first_ti...r_company.html

There are specialists on these forums who offer advice (not simply throw out a phone number, SM), if you want to contact any of them please feel free.

[northernladuk]

If you want help - you're in the right place, but don't expect people to do the basics for you. If you want an ego massage - talk to your best friend.

But not that best friend that some other contractors seem to have that meet in pubs and tells them they can buy company cars/houses spend company money, gift dividends to kids, 24 month rule affects IR35 etc....

[NotAllThere]

...What's the point of having a forum which is supposed to help, which having read it appears to be full of old and bitter school boy bullies and wise guys!

If you're going to be a contractor, you have to be fairly tough. The purpose of this forum is indeed to provide help, and you'll find that some of the most helpful people are also those who are the most robust in their responses.

If you want help - you're in the right place, but don't expect people to do the basics for you. If you want an ego massage - talk to your best friend.

If you work through a ltd.co. that income is absolutely most definitely NOT your wage. Read the first times guide and you should understand why this extremely important to get right.

[northernladuk]

Well thanks for your help! So when you first started contracting you knew everything did you, you never asked anyone any questions?

No I do not fully understand my situation hence I signed up on here to ask.

Of course in my original 18.20 should have read £18.20 which would have given you two figures to compare please excuse my disgraceful despicable error lol!

What's the point of having a forum which is supposed to help, which having read it appears to be full of old and bitter school boy bullies and wise guys!

Read the first timers guide then come back and attempt to have a go at me. Focus on the fact that a contract rate is not a wage whatever symbol it has infront of it.

See, I can be helpful!

[JamesLeon]

I know. I like to call it tough love. Maybe might give him some food for thought so he might actually attempt to understand his situation.

Well thanks for your help! So when you first started contracting you knew everything did you, you never asked anyone any questions?

No I do not fully understand my situation hence I signed up on here to ask.

Of course in my original 18.20 should have read £18.20 which would have given you two figures to compare please excuse my disgraceful despicable error lol!

What's the point of having a forum which is supposed to help, which having read it appears to be full of old and bitter school boy bullies and wise guys!

[northernladuk]

I was being facetious

Damn you. You know I am going to have to google that now don't you!!

[Sausage Surprise]

James Leon isn't exactly a bob name? It only has 4 letters in the last name, not 24. I would guess this is a recruitment agency contract not a contract in the sense we understand hence the rates.

I was being facetious

[stek]

Are Bobs allowed to set up Ltds in this country? You are a Bob I take it, judging by the rates.

Anyone can even someone not British with no leave to remain and not even in the UK.

[northernladuk]

Are Bobs allowed to set up Ltds in this country? You are a Bob I take it, judging by the rates.

James Leon isn't exactly a bob name? It only has 4 letters in the last name, not 24. I would guess this is a recruitment agency contract not a contract in the sense we understand hence the rates.

[northernladuk]

you can be so mean sometimes.

I know. I like to call it tough love. Maybe might give him some food for thought so he might actually attempt to understand his situation.

The fact he is offered both is likely to blow his IR35 out of the water as well so hope he is going to look in to that as well.

[Sausage Surprise]

Are Bobs allowed to set up Ltds in this country? You are a Bob I take it, judging by the rates.

[JamJarST]

Sorry I don't. I only see one wage so nothing to compare to.

you can be so mean sometimes.

[northernladuk]

Hi there,

I have been offered my first contracting job which is due to start next month and last for 6-9mths. I have been offered two pay rates PAYE at £14.52 an hour or LTD at 18.20. As you can see there is fairly big difference in wage so my question is which would be better I have time to set up a ltd company through an umbrella company, would I gain a lot from this after deductions and fees, is it worth the hassle? Or should I just go through PAYE knowing my tax and NI are all going to be taken out automatically without me having to do anything?

Any advice would be welcome, as I said before I am new to contracting so go easy on me!

Thanks in advance,

James

Sorry I don't. I only see one wage so nothing to compare to.