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Is an umbrella company the best choice?

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    Is an umbrella company the best choice?

    Hello

    I am looking to undertake two simultaneous contracts that are inside IR35.

    Is an Umbrella company the best option in terms of maximising the take home profits?

    Can you suggest a trustworthy Umbrella company?

    Thanks!

    #2
    read this https://www.contractoruk.com/forums/...-umbrella.html

    and yes an umbrella is the best choice, in that a LTD company would cost you but have no benefits.
    See You Next Tuesday

    Comment


      #3
      Yes and speak to Lucy at Clarity Umbrella. She's a regular poster on the forums and knows her stuff.
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Originally posted by businessor View Post
        Hello

        I am looking to undertake two simultaneous contracts that are inside IR35.

        Is an Umbrella company the best option in terms of maximising the take home profits?

        Can you suggest a trustworthy Umbrella company?

        Thanks!
        Its worth saying umbrella companies cannot maximise your take home pay - except for their fees your take home pay will be identical regardless of the umbrella you pick.

        And if you find an umbrella that is offering / paying you more take home* than others that's not actually possible as you are personally responsible for the tax you pay so it's only going to give you a short term benefit followed by a lot of long term pain.

        * Umbrella companies may be able to soften the tax pain in other ways though - say by salary sacrifice into a pension or cycle to work or car lease scheme.
        merely at clientco for the entertainment

        Comment


          #5
          Thanks for the info.

          My employer is flexible to offer me a permanent role or a contract.

          Would an Umbrella company have a benefit than a permanent role in terms of profits?

          Comment


            #6
            Originally posted by businessor View Post
            Thanks for the info.

            My employer is flexible to offer me a permanent role or a contract.

            Would an Umbrella company have a benefit than a permanent role in terms of profits?
            You started off with 2 separate contracts, now you talk about a permanent role?

            So I'm confused over that part and we can't answer any question as to whether a permanent role is better than an inside IR35 contracts as that really does depend on the company.
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by businessor View Post
              Thanks for the info.

              My employer is flexible to offer me a permanent role or a contract.

              Would an Umbrella company have a benefit than a permanent role in terms of profits?
              Profits ?? You are PAYE under umbrella

              Add both contacts day rates together

              53% of that rate will be your take home pay

              Any other questions?


              Sent from my iPhone using Contractor UK Forum

              Comment


                #8
                It started with him having 2 permanent jobs (which he called "contracts"):
                https://www.contractoruk.com/forums/...contracts.html

                Then he said they might not be permanent.

                Then he went to Umbrella with 2 temporary contracts and having an employer as well:
                https://www.contractoruk.com/forums/...st-choice.html

                And then he was back to permanent employment or temporary contract:
                https://www.contractoruk.com/forums/...aily-rate.html
                …Maybe we ain’t that young anymore

                Comment

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