I stopped using an umbrella company about 6 months ago and went down the limited company route.
One thing nobody ever mentions is trying to get a mortgage when you use an umbrella company was so much easier. I am needing to remortgage again and need a projection from the Accountants for the 6 months etc. Then the mortgage lender will probably want to question all of the figures as the company is so new.
Whereas a year ago - I sent them 3 payslips from the Umbrella company and that was the end of it. Now, I wish I had waited another 6 months before opening the company up.
Just a warning to people thinking of making the change.
One thing nobody ever mentions is trying to get a mortgage when you use an umbrella company was so much easier. I am needing to remortgage again and need a projection from the Accountants for the 6 months etc. Then the mortgage lender will probably want to question all of the figures as the company is so new.
Whereas a year ago - I sent them 3 payslips from the Umbrella company and that was the end of it. Now, I wish I had waited another 6 months before opening the company up.
Just a warning to people thinking of making the change.
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