Should I trade as a Limited Company, umbrella or composite

[brobi]

So much for accountant's...

Please use the PM facility if you want people to get in touch.
Thanks

[dmini]

Quote from website
For the moment we have limited contact details as the company is in the process of Companies House registration, sorting out an office location and development of the website

Its also one of those lovely offshore tax schemes!

I have only one comment to make ????

[delsvan]

Umbrella Company

I use Dasa Consulting www.dasaconsulting.co.uk and get to keep 88% of my income! Admittedly I dont earn much compared to all you guys!

[brobi]

Keep 88%????

Ok I went to their site and take home of 5,000 per month is around 2,700. How is that 88%? Maybe I missed something on their site.....

[delsvan]

Ok I went to their site and take home of 5,000 per month is around 2,700. How is that 88%? Maybe I missed something on their site.....

Er, yes I think you missed something. I tried £5000 too and even with no expenses you get 2900, and the more expenses you have the higher the figure from what I understand

[brobi]

But How is that 88%

So how do you get to 88%? Using a calculator I got 88% as 4,400. I use a scheme where I claim no expenses and on the same 5,000 I get 4,300. I only pay tax on 20% of my annual income.

[delsvan]

I dont think the calculator is very exact as the calculation is very specific to your own individual circumstances, but this is my result (88%)

Calculation Result
Income before Tax £2100
Expenses £1000
Tax £252
Income after Tax £1848

[Cowboy Bob]

Er, yes I think you missed something. I tried £5000 too and even with no expenses you get 2900, and the more expenses you have the higher the figure from what I understand

You realise that if you don't have receipts for those expenses then you are going to take it where the sun doesn't shine when the taxman comes calling?

[delsvan]

Thats the beauty of it. I have receipts for all my expenses and Dasa Consulting wont allow me to claim anything without receipts.

[Cowboy Bob]

Thats the beauty of it. I have receipts for all my expenses and Dasa Consulting wont allow me to claim anything without receipts.

OK, assuming that the £2100 is your per week gross, are you really saying you legitimately spend £1000 a week on expenses?