So if I understand correctly where the wind is blowing with most of you. The advice is:
- Go ltd for 5.5 months
- Register with VAT
Sounds good to me
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Reply to: From umbrella to own ltd. quick advice
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Previously on "From umbrella to own ltd. quick advice"
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Originally posted by Ardesconot to mention at £400 a day you would be on target to pass threashold so would have to register anyway.
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not to mention at £400 a day you would be on target to pass threashold so would have to register anyway.
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Originally posted by Old GregDo not think you can do a runner from the VAT man abroad, pocketing the full amount. They will hunt you down like a dog.
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Originally posted by SockpuppetIn that case it may be worth it. I wouldn't bother with VAT reg though as this will probably come through just about when you are winding the company down.
Speak to an accountant but not sure how a coy like this could be viewed. If you are setting it up with the express interest in crashing it then it probably will be seen as a vessel in which to avoid tax.
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In that case it may be worth it. I wouldn't bother with VAT reg though as this will probably come through just about when you are winding the company down.
Speak to an accountant but not sure how a coy like this could be viewed. If you are setting it up with the express interest in crashing it then it probably will be seen as a vessel in which to avoid tax.
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Originally posted by SockpuppetFor 5.5 months I'd say its not really worth it from an effort point of view.
Depends on what your daily rate is but unless its high you are going to lose a lot in fees for such a short time.
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For 5.5 months I'd say its not really worth it from an effort point of view.
Depends on what your daily rate is but unless its high you are going to lose a lot in fees for such a short time.
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From umbrella to own ltd. quick advice
I just started my first contract 2 weeks ago and I'm working with an umbrella company.
I've left 5.5 months in my contract and then I'm going back to permie (not in the UK) so I want to maximise my earnings during that time therefore want to form my own ltd.
My question is, would it be wise to just go ltd and handle tax outside IR35 without checking where my contract stands with regards to IR35? This is considering it's going to be my first and only contract and I will be out if the country for a few years after that if not for good.
How risky is this really if at all?Tags: None
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