Worth setting up a Limited Company now?

[Pogge]

Hi all,

I know there are many sticky threads and posts regarding this, but I'm overwhelmed by all the information and not sure what is right for me at this point.

In short: I found a new IT role which is initially a 12-months contract (£180 per day) and most likely going ahead with it - it is outside IR35 and I can choose to do it through either Limited or Umbrella.

My question now, because of the IR35 changes in April 2020 - should I set up my limited company this week and do it through this or is it not worth it at this point?

I am still new to the "contracting life" so apologies for asking beginner questions.

Appreciate the help guys

[NotAllThere]

At £180 a day, it's not worth setting up a ltd. co. anyway. The overheads are too high.

[northernladuk]

I'd agree with Nat but I struggle to see how a 180 quid a day 12 month role is outside ir35. What are you doing?

[Lance]

I'd agree with Nat but I struggle to see how a 180 quid a day 12 month role is outside ir35. What are you doing?

I too cannot see how £180 a day could pay for a role that is outside ir35.
I’m not sure that an IT contractor who’d work for that little, could manage to wipe his own arse never mind run an independent business.


Perhaps it’s a £350 a day role but the agency is having a laugh?
Or more likely the agency simply means that it’s the contractors determination now.

[Pogge]

I'd agree with Nat but I struggle to see how a 180 quid a day 12 month role is outside ir35. What are you doing?

This is an IT Support role (kind of a Junior role), they usually pay between £100 - £250 so I thought this was a good opportunity.

Should I go with an umbrella company instead?

[eldy]

Theres plenty of IT support guys operating via limited company on those rates I.e £200 x 48 weeks = around 50k, almost double what you would get if you were perm in same sort of role

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[fidot]

Outside ir35?

[Old Greg]

Outside ir35?

No mutuality of obligation = outside IR35.

[fidot]

Agree it is possible, but rare in an IT support role in my opinion