Ltd to Umbrella

[northernladuk]

As I've posted seperately about investing long term with company reserves via the company - I'm also considering the option of not being renewed in April and being out of work for a while / with the only option of accepting inside roles or perm - so are people tending to KEEP LTD, go inside via umbrella (only way?)

Yes. We've a slow trickle of people coming on that that have MVL's their LTD's and by doing so they've blocked the option of opening a new one for two years... and guess what, they inside gigs ended and they want a LTD again.. which is a bit tough.

Going inside doesn't mean you've given up contracting. It's just another gig that will end soon. You've got to plan beyond that one gig. It might, if you have lower reserves in the LTD, give you an option to shut down and start again.. but in most cases I'd ask what benefit there is in this.

[ContractNewbie18]

If you're going to run both a LtdCo and work via an Umbrella, you'll need to submit your Umbrella-earned income onto your SATR even if you're not drawing an income from your LtdCo

As I've posted seperately about investing long term with company reserves via the company - I'm also considering the option of not being renewed in April and being out of work for a while / with the only option of accepting inside roles or perm - so are people tending to KEEP LTD, go inside via umbrella (only way?)

[MrButton]

Oh dear, sounds like someone's tired.

This is exactly what I'm talking about!

I don't need to be taught how to fish, and i never said I wanted someone to lay it all out nicely. Not everything is documented and at the end of a link. I wanted real-world experience on a couple of nuanced points, from someone who has been there. What I didn't want was to be subjected to a pile-on of tedious public disparagement because I had the temerity to ask a question.

As it happens, I had a reply straightaway from a very helpful person and now I have a much clearer idea of the path ahead.

I thanked you for replying and explained my reasoning for wanting to discuss it offline. That you seem to have taken umbrage at my reference to 'Cheeto-dusted keyboard warriors' speaks volumes. Mine was a general observation of the toxicity of some comments that are typical and prevalent on this forum. You could've just ignored it, but no, straight into snark mode and then you swan off in a huff. Do you need a tissue?

As for "helping me to help my myself", your arrogance and condescension is breathtaking. Who are you to decide what I need?

You're a big fish in a small pond, that's all. Try a little humility now and then.

Triggered

[MojoDog]

How about a Cheeto-dusted keyboard warrior that guides you to where your answers are and you can have a good read up and expand from there? That's helping you help yourself no? Teach a man to fish and all that?

It was a genuine question and I wanted to help but if you are after someone to lay it all out nicely for you then I'm done here. Couple of new threads I can go keyboard warrior today so off I pop.

Oh dear, sounds like someone's tired.

This is exactly what I'm talking about!

I don't need to be taught how to fish, and i never said I wanted someone to lay it all out nicely. Not everything is documented and at the end of a link. I wanted real-world experience on a couple of nuanced points, from someone who has been there. What I didn't want was to be subjected to a pile-on of tedious public disparagement because I had the temerity to ask a question.

As it happens, I had a reply straightaway from a very helpful person and now I have a much clearer idea of the path ahead.

I thanked you for replying and explained my reasoning for wanting to discuss it offline. That you seem to have taken umbrage at my reference to 'Cheeto-dusted keyboard warriors' speaks volumes. Mine was a general observation of the toxicity of some comments that are typical and prevalent on this forum. You could've just ignored it, but no, straight into snark mode and then you swan off in a huff. Do you need a tissue?

As for "helping me to help my myself", your arrogance and condescension is breathtaking. Who are you to decide what I need?

You're a big fish in a small pond, that's all. Try a little humility now and then.

[MojoDog]

If you're going to run both a LtdCo and work via an Umbrella, you'll need to submit your Umbrella-earned income onto your SATR even if you're not drawing an income from your LtdCo

Thank you

[ladymuck]

If you're going to run both a LtdCo and work via an Umbrella, you'll need to submit your Umbrella-earned income onto your SATR even if you're not drawing an income from your LtdCo

[MojoDog]

Just block NLUK and you'll be fine.

Would you talking about the option to shut down the limited? Personally, I wouldn't recommend it as there is still the potential for future outside gigs.

I'd just take the inside gig, de-register from VAT because you know you're not going to be accumulating enough if you're inside IR35 and fill yer boots.

Thanks for that.

No plans to shut down the limited

Just looking for the wisdom of real-world experiences, things to consider etc.

[LondonManc]

Yeah... I did consider that, but this forum has a reputation for snarky replies of the 'let me google that for you' variety. This way I've made contact with a kind soul who genuinely wants to help, rather than some Cheeto-dusted keyboard warrior.

But thanks for replying.

Just block NLUK and you'll be fine.

Would you talking about the option to shut down the limited? Personally, I wouldn't recommend it as there is still the potential for future outside gigs.

I'd just take the inside gig, de-register from VAT because you know you're not going to be accumulating enough if you're inside IR35 and fill yer boots.

[MojoDog]

We've thousands of threads about umbrellas. Could you be a bit more specific what you are after?

Yeah... I did consider that, but this forum has a reputation for snarky replies of the 'let me google that for you' variety. This way I've made contact with a kind soul who genuinely wants to help, rather than some Cheeto-dusted keyboard warrior.

But thanks for replying.

[northernladuk]

We've thousands of threads about umbrellas. Could you be a bit more specific what you are after?

[MojoDog]

Hi,
I've been contracting through my Ltd Co since 2005. I've been approached for a long term role that looks very interesting, is paying good money, but is inside IR35.

I'd be interested to talk (offline) to anyone on here has been in a similar situation and switched from Ltd to Umbrella. I'm not selling anything, just looking for information

Thanks for your time.