Got a 3 month gig. Which route do i take for payment. I do not have a LTD but is it worth setting one up for a 3 month gig. There is always the possibillity that it could be extended or is it easier to go via umbrella company?
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3 month gig - LTD or umbrella
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You might get a sensible answer in the Accounting/Legal Forum, you may equally be told to search because it has been covered to death.
However, because you would be searching using common terms, the results would probably yield a large number of results that are not relevant to your question so I will be charitable.
The general opinion is that it is not worth setting up a Limited Company if you will be contracting for less than one year, so it depends on your reason for contracting.
You can start with an Umbrella then switch to Limited Company mode down the line if you decide you will stay contracting beyond the initial contract*
*I am not an Accountant or a Lawyer etc etc. The government may change the rules at any time making the advice you receive today invalid etc etc. -
Originally posted by Slumdog View PostGot a 3 month gig.
Originally posted by Slumdog View PostWhich route do i take for payment.
Originally posted by Slumdog View PostI do not have a LTD but is it worth setting one up for a 3 month gig.
Originally posted by Slumdog View PostThere is always the possibillity that it could be extended
Originally posted by Slumdog View Postor is it easier to go via umbrella company?
Many people will shout and yell that you MUST go Ltd blah blah blah but its really your choice..... I go LtdComment
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Originally posted by Drewster View Post
"Easier" - Well its not particularly hard going via Ltd but a bit more fuss and bother plus a few costs... but over the mid-longer term (many people think) Ltd is "best"......
Many people will shout and yell that you MUST go Ltd blah blah blah but its really your choice..... I go LtdI'm better than dirt. Well, most kinds of dirt, not that fancy store-bought dirt... I can't compete with that stuff.Comment
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Originally posted by Slumdog View PostI intend to stay in contracting so I may as well start off as a LTD then.
As the others have said find a good accountant, there are plenty of them about and some of the posters on CUK can recommend national services.Comment
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get client co. to pay me
- i'll screw up your accounts
- i'll take no responsibility for chasing late payments as good as any umbrella
- i'll then pay you a figure minus PAYE, my fee's and any debentures you feel you can claim (chef co. allows all debentures you care to dream of with the caveat that if HMRC disgaree then we do too)
PM if your interested, much cheapness plenty quickness (unless it's a weekday and/or some weekends)The proud owner of 125 Xeno Geek PointsComment
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