1 Month Contract Which Umbrella ?

[biggie]

strange as it seems i'm contracting for 1 month then going Permie else where.

I did set up a limited company as I was going to contract for longer.
Company has been formed but VAT\Business Account is still pending.


Now due to the change of plan I persume umbrella is best:-

Also I persume I don't have to pay for EI insurance etc etc but will have to pay IR35 even though my contract is friendly

Can some one recommend anyone I can use for such a short period ?.


Also contract starts in about 9 days I hope this isn't short notice.

[Sockpuppet]

Parasol, Giant etc.

Do you know a friendly contractor that would run you through thier books. Could generate them soem extra £££ if they are on the flat rate scheme.

[TheFaQQer]

If you are planning on keeping the company open (just in case), it's worth seeing if you can cancel the VAT registration.

If you move onto the flat rate scheme at any time, you get a 1% discount during your first year of VAT registration, so if you can dely it then you should.

[biggie]

Thanks TheFagger

Guess it's best to just close it, as I don't think i'll be contracting for at least a couple of years.

[M@H]

If you are planning on keeping the company open (just in case), it's worth seeing if you can cancel the VAT registration.
.

Indeed.. I'm not sure why one would want to register for VAT straight away anyway, I was planning on waiting till I was getting near the 61k threshold on taxable revenue.. no point getting your head above the parapet before you need to.!?

Cheers
Matt.

[TheFaQQer]

Indeed.. I'm not sure why one would want to register for VAT straight away anyway, I was planning on waiting till I was getting near the 61k threshold on taxable revenue.. no point getting your head above the parapet before you need to.!?

Cheers
Matt.

Not sure what "parapet" you mean.

The quicker you register for VAT, the quicker you can reclaim VAT on your expenses, or move onto FRS and (possibly) make some money without needing to do anything.

It only makes a difference really if your customers (or potential customers) are not VAT registered, e.g. small customers, direct to the public etc. If that's the case, then you need to charge an extra 17.5% to pass onto the VAT man. If you are dealing with customers who are likely to be VAT registered, or whose suppliers are likely to be VAT registered, then it's a no-brainer.

[biggie]

+ you benfit from the flat rate scheme.

and if you've got a one year contract, knowing your going to go over the threshold then defo a no brainner.

Also you need to estimate how much revenue you intend to make for insurance purposes...

[lilfreckles]

Like stockpuppet mentioned...Parasol springs to mind due to the good knowledge and service they have. Giant possibly however I found that their dispensation is a shambles

[TheFaQQer]

As SockPuppet said - I'd find someone you trust who you can put it through their Ltd - essentially let them act as the umbrella for you, and pay you accordingly. Their rates must be better than an umbrella!

[Xil3]

All I have to say is DO NOT use "Giant" ... they have screwed me on my pay since I started with them.