Not sure, Umbrella or Ltd ?

[garethevans1986]

£170 a month is a lot to be fair.

Everybody is different, I went from permie to first contract over a weekend so had to go with an Umbrella, stayed with them for the first 6 month contract but got a Limited Company setup at the same time. Second contract moved to Limited company.

Kept my head down and carried on invoicing ever since.

GE

[JoeyD]

Thanks Gare The Vans.

I've made another couple of calls now and it looks like I can get this a bit cheaper.

[Jessica@WhiteFieldTax]

Hi All,

Newbie here so be gentle.

Been offered my first contract and don't know whether to use an Umbrella Company or start a Limited Company.

My agent suggested that I use a company who does something with off shore tax havens or something but I didn't understand it. He told me it was risk free and I would get 84.5% of my rate back with no tax or something.

I'm sure someone on this forum must have heard of all this stuff before and would appreciate some advice.

Kind regards,

Joe.

Run - don't walk - the other way!

[Jessica@WhiteFieldTax]

Thanks Gare The Vans.

I've made another couple of calls now and it looks like I can get this a bit cheaper.

Anything over £100 a month is probably OTT ( nothing to do with the fact thats what I charge of course )

[JoeyD]

Anything over £100 a month is probably OTT ( nothing to do with the fact thats what I charge of course )

Don't really think it's appropriate to call a potential client a w*nker, do you ?

Think I might stick with the £170/month guy if that's your attitude

[captainham]

Don't really think it's appropriate to call a potential client a w*nker, do you ?

Think I might stick with the £170/month guy if that's your attitude

Easy Tiger...she was referring to herself as she touts for business!

I get the impression (from an earlier post) that you might have missed my post at the bottom of page 1 too, with a whole load of accountant recommendations; here's the thread: http://forums.contractoruk.com/accou...-requests.html

[Jessica@WhiteFieldTax]

Don't really think it's appropriate to call a potential client a w*nker, do you ?

Think I might stick with the £170/month guy if that's your attitude

Oh god, I'm so so sorry and thick. I wanted a winking emoticon, as in wink with the eye. I didn't reallise "Winker" was "W*****".

I did think it was a strange movement for winking.

Not aimed at you at all.

[Jessica@WhiteFieldTax]

I've now discovered how to wink

[captainham]

Great, so now I'm the only one who appears to have called somebody a rude word.

Didn't mean it Jessica, you know I didn't, I just knew you didn't mean what the OP thought you did

[prozak]

Let me get this right.

Your rate is 180 a day?

You may as well go Umbrella. I think the hassle / benefit of LTD wont be worth it (just my opinion, I've never run the numbers for a 180 a day rate)

Buy yourself a book called "salary vs dividends" from the tax cafe.

It will educate you on the different scenarios.

Any accountant worth their salt would have already steered you in the right direction without charging you - unless they are taking you for a sucker. Even if that means they are passing on a client.