High Rate - What is the best? Limited?

[lavieira]

Hi,

I was using Giant for the last 2 years but since Giant requested receipts for all mileage i change to another umbrella.
Normally i have small contracts receiving between £450 to £500 a day.
What will be the best option? I read allot about limited companys but still not sure. Seems to me to many things in order to receive just a payment.

Please advice.

Thanks.

[Waldorf]

Hi,

I was using Giant for the last 2 years but since Giant requested receipts for all mileage i change to another umbrella.
Normally i have small contracts receiving between £450 to £500 a day.
What will be the best option? I read allot about limited companys but still not sure. Seems to me to many things in order to receive just a payment.

Please advice.

Thanks.

I have just left Giant and what a relief!

Nixon Williams supplied me with my own ltd company and did everything, they are very good and will answer all your questions in an easy to understand way.

Take a look at www.nixonwilliams.com , the set up is free and the cost is £60 per month.

I think I should speak to them about a fee for these recommendations!!

[XLMonkey]

If you are taking lots of small contracts (and, I assume, having periods off work in between them), then you are almost certainly better off operating through a limited company. The administration of a company takes no more than a couple of hours work a month (once you've learned the ropes). It should be cheaper than operating through an umbrella, and once you get going you will find that it gives you opportunities to structure your tax affairs a (bit) more efficiently than just taking the standard umbrella service.

Put it this way, you will probably be (at least) a couple of thousand a year better off in exchange for about 2 working days per year, which is a properly high rate. (450-500 is not really a high rate (I know I know, smug b**stard and all that)).

As for accountants - SJD, Nixon Williams, First Accounting and Quay all get fairly good recommendations on this board. Prices range from 60-100/month all in.

[mictech]

Hi,

Normally i have small contracts receiving between £450 to £500 a day.
What will be the best option? I read allot about limited companys but still not sure. Seems to me to many things in order to receive just a payment.

Please advice.

Thanks.

Well if its to much of a pain to do the paperwork. Go permie and leave this crap rates to the real contractors.

[lavieira]

If you are taking lots of small contracts (and, I assume, having periods off work in between them), then you are almost certainly better off operating through a limited company. The administration of a company takes no more than a couple of hours work a month (once you've learned the ropes). It should be cheaper than operating through an umbrella, and once you get going you will find that it gives you opportunities to structure your tax affairs a (bit) more efficiently than just taking the standard umbrella service.

Put it this way, you will probably be (at least) a couple of thousand a year better off in exchange for about 2 working days per year, which is a properly high rate. (450-500 is not really a high rate (I know I know, smug b**stard and all that)).

As for accountants - SJD, Nixon Williams, First Accounting and Quay all get fairly good recommendations on this board. Prices range from 60-100/month all in.

Well for me is a high rate yes
Okie i think the limited company will be the best thing to go.
Thanks for all your help.