Not been here in ages.....

[daviejones]

How is everyone?

To save me searching, can someone give me the reasons to either:

1: Stay Limited Company - I am sick of all the paperwork etc

2: GO Umbrella - easy option

I am currently (1) but I am tempted by (2) for next contract....

What is the main concensus???

[NotAllThere]

Compare the advantages:

1: Stay Limited Company - I am sick of all the paperwork etc

Control over your finances, dunning, expenses claims; ability to arrange your affairs in a tax efficient manner, ability to do other work, fix rate VAT scheme.

Disadvantages: paper work. (minimal).

2: GO Umbrella - easy option

No effort required.

Disadvantages: reduced control over your finances. Reliant on brolly to exercise credit control on your behalf. Have to stick to brolly expenses rules. PAYE only.

[Platypus]

I recall this thread is quite compelling
http://forums.contractoruk.com/accou...g-problem.html

[daviejones]

What about companies like Parasol etc?

[Platypus]

I'll tell you what, why don't I do all the research and send you a full report?











On 2nd thoughts, you're obviously a lazy c**t so just use an umbrella

[daviejones]

HAHA, I was after opinions!!! I missed you guys...

[NotAllThere]

I think Platypus voiced his opinion quite well.

[NotAllThere]

What about companies like Parasol etc?

No effort required.

Disadvantages: reduced control over your finances. Reliant on Parasol to exercise credit control on your behalf. Have to stick to brolly expenses rules. PAYE only.
If you want to know about other umbrella companies, simply replace the word "Parasol" with the other brollies.

Of course, you could use Sunday Solution et al, and then you get:

No effort required.

Disadvantages: reduced control over your finances. Reliant on Parasol to exercise credit control on your behalf. Have to stick to brolly expenses rules. PAYE only. Huge risk of having to pay tax and penalties at a later date.

[RichardCranium]

To save me searching, can someone give me the reasons to either:

1: Stay Limited Company - I am sick of all the paperwork etc

2: GO Umbrella - easy option

I am currently (1) but I am tempted by (2) for next contract....

What is the main concensus???

Gosh! You have been away a long time.

We're tending to go self-employed now. Since that S-thingie ruling and the opting in/out business came in, it makes no difference to the agents any more how we work.

Self-employed is by far the most tax efficient, least paperwork, no IR35 and you don't need an accountant.

And NOBODY does umbrellas any more, they're all falling over like ninepins.

So as year end comes, we've all been converting to self-employed.

You really do need to:

a) keep up;
b) do your research, you're in business, dammit!
c) learn to spell consensus.

HTH

[SallyAnne]

How is everyone?

To save me searching, can someone give me the reasons to either:

1: Stay Limited Company - I am sick of all the paperwork etc

2: GO Umbrella - easy option

I am currently (1) but I am tempted by (2) for next contract....

What is the main concensus???

If you're sick of your own money then you might want to just try going permie. That's even easier!



And if you missed that, it was

Oh...and welcome back