I've had some contract amendments signed off so that my first contract does not put me explicitly inside IR35 however I know this is a small part of the jigsaw. The contract is 6 months and the client is not committing to a determination yet for beyond April 2020.
My line of work is nuclear safety, electronics and software assurance. The cut a long story short I'm going into contracting at this point of time out of necessity rather than choice.
Here's a few quick questions if you'd be kind enough to respond:
1) In this scenario would you go umbrella or Ltd?
(The variables are: it's away from home and the umbrella take home would only be marginally better than a perm salary when pension and expenses are taken into account, I'm not factoring holidays into that but I have already got a perm salary until October 2020 from my previous employer)
2) If I go Ltd then get flipped after two months and close down my company, do I still need an accountant for my tax returns beyond company closure?
3) Are there any other costs to consider on closure of a ltd? (I've already forked out for an IR35 review and set up will cost me £50, closure would be £200 and I'd have also set up and cancelled insurance policies).
4) The agent insists the role is outside IR35 and they would challenge the client if I get flipped. Is that bulltulip? Does the agent have any influence over client determinations?
My line of work is nuclear safety, electronics and software assurance. The cut a long story short I'm going into contracting at this point of time out of necessity rather than choice.
Here's a few quick questions if you'd be kind enough to respond:
1) In this scenario would you go umbrella or Ltd?
(The variables are: it's away from home and the umbrella take home would only be marginally better than a perm salary when pension and expenses are taken into account, I'm not factoring holidays into that but I have already got a perm salary until October 2020 from my previous employer)
2) If I go Ltd then get flipped after two months and close down my company, do I still need an accountant for my tax returns beyond company closure?
3) Are there any other costs to consider on closure of a ltd? (I've already forked out for an IR35 review and set up will cost me £50, closure would be £200 and I'd have also set up and cancelled insurance policies).
4) The agent insists the role is outside IR35 and they would challenge the client if I get flipped. Is that bulltulip? Does the agent have any influence over client determinations?
you've just inspired me to start another tedious thread on General.
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