newbie question about PCG contracts

I've worked out I'm not worse off financially using a Ltd rather than an umbrella however the mode of working. And yes you have much better control of whats going on and I reckon less admin. You can get an accountant on a set £50-£60 a month to do the books, you might save a few quid with some umbrellas if you are on a lowish rate. I've dabbled with umbrellas but now back with Ltd.

What makes you think you will be worse off with your own Ltd?

Thanks.

I got the impression that most people are still working the same as they were before IR35. I just thought (prehaps niavely) that contracotrs were taking extra steps to avoid problems if they got caught, such as the PCG contracts etc

I quite like the idea of running a ltd company as it seems to give me slightly more control over my finances then say using an umbrella company. My main worry is that I will be financially worse off my using a ltd company?

If you are working through an agency they would provide the contract. If working direct to a client then they should still usually provide the contract but there is a fair chance they won't have dealt with direct contractors and hence won't have a suitable one, in that case suggest the PCG one to them.

I'd say there aren't many advantages to a Ltd if you declare yourself caught by IR35. The main advantage to a Ltd when outside IR35 is that you can pay yourself a low salary ( eg. £9K pa ) and high dividends ( eg £50K pa ) and thus avoid a lot of national insurance payments ( both employers 12%ish and employees 9%ish ). A lot of contractors ( inc moi ) are still Ltd and declaring themselves outside IR35 and living with the risk of getting investigated and deemed inside IR35 ( a lowish risk on current stats ).

Loads of stuff around the net on this stuff !

I'm a newbie about to make the plunge, but despite my research, I still confused as to whether it is worth setting up a ltd company?

1. Are there any advantages with a ltd if you are working under IR35?

2. Forgive my extreme ignorance, but does the Agency/Client provide the contract for me to sign (a bit like a permie employment contract) or does my ltd company provide the contract?

If it's the latter, PCG offer IR35 compliant contract templates. Is it simply a case of using one of these with your ltd? How hard is it to get a client/agency to sign one of these contracts?

I'd really appreciate any advice on this so I get it right first time.

Scott.