About to begin contracting

[Joeman]

I disagree. The last thing you want to do on your first contract is getting yourself in all sorts of trouble you do not understand and cannot get yourself out of. Wing it when you know what you are doing, not before.

I did Umbrella for the first 6 months and it didn't do any harm bar a little less money which is now totally irrelevant 4 years later.

yeah, probably the better answer for a newbie..

[The Spartan]

Hence why I'm with an Umbrella at the moment

I eventually plan to go Ltd but just not yet, we'll soon see come April when my current contract ends

[northernladuk]

Hence why I'm with an Umbrella at the moment

I eventually plan to go Ltd but just not yet, we'll soon see come April when my current contract gets renewed at 20% more

FTFY

Come on man, you are a contractor now. Bit PMA required so you don't let the side down!!!

[The Spartan]

FTFY

Come on man, you are a contractor now. Bit PMA required so you don't let the side down!!!

Lol well put I did indeed forget to put that in, especially after a 6 month stint I'll definitely deserve an increase

[Graham]

Just to update this a bit...

I decided to go the Ltd route in the end and have gone with a local accountant who although being more expensive than the online ones advertised through here, gives me the peace of mind of having someone local I can just pop in to see if I need to ask anything etc.

Been a tough couple of weeks researching everything etc but almost all sorted now I think

[The Spartan]

Well done I hope it works out well for you

[Joeman]

Thanks for the replies everyone.

Whilst I am tempted to go with an umbrella company due to it being easier. For me its all about the money (so I can save a deposit for a house) and I shouldn't have a problem with affording the time to learn whats needed for running a LTd company.

That said, I'm still keeping my options open and not committing to either course yet

How close are you to having enough deposit for a house?? you may find it easier to get a mortgage if you're with an umbrella company, rather than a newly formed Ltd company with no accounts.

[Graham]

Well done I hope it works out well for you

cheers

How close are you to having enough deposit for a house?? you may find it easier to get a mortgage if you're with an umbrella company, rather than a newly formed Ltd company with no accounts.

At the moment I have about £11 in my bank and about the same in my pocket
(plus about £1500 to pay off on credit cards)

[The Spartan]

At the moment I have about £11 in my bank and about the same in my pocket

Things will soon change once you get a contract

[Graham]

Things will soon change once you get a contract

aye, will be able to save money for a deposit as well as having more spare to enjoy life with