Going to the Darkside - what to do with Company any ideas

[GregRickshaw]

Correct, that's what I'm doing. The umbrella I was using and been totally mistake free is handing me over to a better known outfit this week. Haven't bothered asking why but a buy out I assume. Lets see how they do. They already say they can't do the hours @ min wage setup, which I could do on a fag packet in 10 secs, but it's on very large percentage going into the pension which is roughly the same thing.

I have also done the same with a Ltd in the past. Talk to your accountant. Should be routine.

Thanks for all the good advice will chat to my accountants today.

However, I still don't understand fully the Umbrella part of this, if your Umbrella puts the majority of your day rate into your pension from the Umbrella etc., How does that touch the money in our LTD company accounts do I start paying myself from there?

I will catch up with my accountants just like to understand a little more before I did.

[rootsnall]

Thanks for all the good advice will chat to my accountants today.

However, I still don't understand fully the Umbrella part of this, if your Umbrella puts the majority of your day rate into your pension from the Umbrella etc., How does that touch the money in our LTD company accounts do I start paying myself from there?

I will catch up with my accountants just like to understand a little more before I did.

The umbrella is for my current work, nothing to do with a Ltd. So it's how you should possibly do things if you are working now or in the future.

Your Ltd with cash in it is a different issue altogether. You need to talk to your accountant and see what they'll allow you to do. For any future earnings I think you can pay almost all of it directly into a SIPP/pension. You'll have to ask if there is any scope for using what is in the Ltd now and/or previous years to make a large backdated payment. I would be sceptical of backdated and a tax reclaim but see what your accountant says.