Do you earn a lot but chose to work through an umbrella?

[robin]

I know there has been a lot of threads on why a Ltd is better so not asking that but I'm interested in people who earn a lot but still choose to work through an umbrella company rather than go down the Ltd route.

I'm not a big earner contractor and know that most of my contracts would probably fall in IR35 and it would not make a huge difference to my earnings by going to a Ltd once weighed up with the extra responsibilty.

So does anyone here choose to work through an umbrella if you do why have you made that choice and what hourly/day rate are you roughly on?

[Sausage Surprise]

1. They have the impression that the ltd co route is difficult and tedious to run.
2. They are scared of IR35 for some reason (or are actually caught IR35)
3. They are single with no responsibilities so have far too much money.

All 3 applied to a guy I worked with at BT

[Clippy]

1. They have the impression that the ltd co route is difficult and tedious to run.
2. They have heard IR35 horror stories

Applied to a guy I worked with at a previous client even though, when we were discussing it, he was aware he could increase his take-home via a Ltd.

Do whatever makes you comfortable and not what others are doing.

[Scrag Meister]

Whatever makes you comfotable is a good way to put it.

As we all know there are loads of ways to increase your income/minimise your tax bill, but I wouldn't want to be looking over my shoulder all the time.

Umbrella is just one way to try and ensure that you run within the tax rules.

Limited is somewhere in the middle, and dodgy EBT schemes at the other extreme.

I just don't want the stress so I run My Co with Salaries, Div, Tax and NI at a point I am happy with.

Re Rate I'm on £10k pd rounded up to the nearest 10k.

[robin]

Do whatever makes you comfortable and not what others are doing.

That is a good way of looking at it as everyone is different I suppose on what they are comfortable with.

Everytime I get a contract it usually gets mentioned and I always get told I should go Ltd when I'm happy as I am to be honest but when enough people go on about it you start feeling almost pushed into it and kind of made to feel silly that your not.

[captainham]

Why not sign up for the Breeze Wealth scheme and really maximise your take-home?

[chef]

other reasons

They might be disqualified from being a director
They might be terrible with money and so would want someone else to manage that for them
They might enjoy giving away a higher percentage of their money towards tax
They might not be sure if they will be contracting for a while
They might be foreign and therefore not realise that they could set up a ltd

[captainham]

other reasons

They might be disqualified from being a director
They might be terrible with money and so would want someone else to manage that for them
They might enjoy giving away a higher percentage of their money towards tax
They might not be sure if they will be contracting for a while
They might be foreign and therefore not realise that they could set up a ltd

If they have any time for Nick Clegg then this one is probably the case

[jmo21]

Working next to a long time contractor here who switched to brolly when IR35 came because of the uncertainty, and has only just went back to a Ltd for this contract.

Another contractor I worked with a few years ago, when I asked him about how he deals with IR35, said he doesn't, just says he is caught on his return and still works through a Ltd.

[BolshieBastard]

Just say 'No!' to brollies!