Umbrella or your own company? Umbrella or your own company?
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  1. #1

    JohnWap

    Guest

    Default Umbrella or your own company?

    Hi, I’m about to start a short term contract. In fact, I have not been earning for last three years. Due to IR35, I’m not sure if I’m going to open up a new company this time – things have changed so much. What’s your suggestion? If umbrella, do you have a good one to recommend?

    Thanks.

    JW

  2. #2

    planetit

    Guest

    Default

    Do you think you will be contracting for a few years, or just a few months?

    If just a few months then go for an umbrella.

    If you think you’ll be at it for a while, consider a Ltd Company. If you think you might be outside IR35 (a difficult thing for you to know I admit) or may have an interest in doing other bits of work, then definitely go for a Ltd.

    If you think you may be inside IR35 then it’s a closer call, but it still seems to be better to go for a Ltd.

  3. #3

    4Contractors

    Guest

    Default

    following on from what planetit has written, the usual accepted advice is to use an umbrella company for a one-off contract of six months or less and an accountant/Ltd for everything else.

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