Being offered renewal under umbrella, unsure about where to go from here

[Ariosa]

Hi everyone,

I've been reading lots of IR35 related threads (I'm still confused) but I would also really appreciate your feedback on my current situation.

I've been with this client since April 2020, renewed once and current contract ends end of coming March. Client has...

[backtoback]

Hello,

First of all, thank you for keeping this forum so helpful.

I just have a question regarding my Estonian Limited and need some help.
I have a new 1year contract proposition from a French company. I have an Estonian limited (which is in EU), but my client said...

[KaiProctor]

Hi,

I have been contracting inside IR35 for a while now. I pay an umbrella company £100 per month for their services (£1200 pa). I was considering going down the limited company route on the basis that I will save approx £1k per annum (£1200 of umbrella fees - £200 of limited company...

[omicron]

Hi,

I have my own UK limited company and signed a contract with a client (private small company) from Sweden. The contract has no end and will continue until one of the parties decides to terminate it. I'm working for this company full-time and I'm pretty much an employee except that I'm...

[rogerF]

SIPP Contribution question.

Hi,

I am thinking of opening a SIPP and I have a question about the most tax efficient way of funding it.
I would want to make regular, say monthly contributions.

Here is my situation:
1- I am the director of my UK...

[JackMaloney]

Does anyone know what the new rules are regarding childcare, specifically around putting costs through your limited company. I know the rules were changed in October 2018, but I'm reading and being told contradictory information so would be good to get some clarification.

The scenario...

[MikhailCompo]

So my FTSE250 client offered me a decent package to convert to permie as they're binning all contractors before Feb 2020, so I have taken the plunge.

Can anyone clarify the following points for me? I have been told that if i am over 25k then i must appoint and pay for a liquidator...

[sdd]

Hi, I'm hoping someone might be able to help on here.

I have a limited company that has never traded that I'm looking to dissolve.

My home address currently shows on companies house as the correspondence and registered address.

I want to change this for security...

[Rictastic]

Hi

Has anyone had experience with winding up a limited company and the most tax efficient method for doing this:

My last invoice/payment will come through mid October (2019) and I plan on moving back to NZ mid December, on the last payment I'll have around £90000 in my...

[suresh505]

I work as an IT contractor through a limited company with myself and my wife as directors. My wife performs the role of a company secretary and draws a small salary.

Once private sector IR 35 rules come into force, I will almost certainly start working with an umbrella company. I would...

[eco666]

Hi,

I am contracting for a large business (as a limited company). Recently, the company I am employed by has asked every employee fill out a 'work tracker' (for management purposes) whereby each employee has to fill in a tracked spread sheet, on a daily basis, every task they have completed,...

[Liam88]

Hey everyone,

Basically, I have been in a limited company for over 2 years with my business partner. We agreed that having different views for the company around 6 months ago, me still having faith in the company though and him not. As the company wasn’t trading at a plus and basically...

[Franklin09]

All, I would appreciate your comments regarding our plan on how to handle our salary/dividends/tax matters when it comes to the limited company that I have just founded together with my wife.

Mr
- He is a director of the limited company
- He is paid a salary of £8,424/year...

[abu1]

Hi I am thinking of changing my accountant as he is not doing much or anything at all. Also currently he is abroad and I am unable to get hold of him since last 4 weeks.

what do I have to do for handover to a new accountant? Do I need to make HMRC aware?

Also any recommendations...

[bubble99]

Hi all - interested in some advice.

I'm a kiwi who has been living in the UK for about 16 years. I'll be returning to NZ later this year to live. The last few years in the UK I have been using limited company to contract through (sole director/shareholder) and a decent level of cash has...

[bonzibuddy142]

I have just started my own limited company and am set with my first contract which is for a duration of 6 months.

The contract states the work location to be in 'Location A'.

I spend 6 hours at Location A twice a week and the remainder of those days plus the remaining...

[RL508]

Hi,

I am the director and owner of a small limited company. In the coming months, my trading activities in Sweden are set to increase. Although English is almost always sufficient, knowing Swedish would be greatly beneficial. I am wondering if language learning (1 to 1 from a tutor) is...

[aeroeng]

I need a view on these companies. I am planning to go for umbrella services, although it will significantly reduce my monthly take home amount, but I have no idea about the difficulties i might face if I choose to LLC. my assignment is for 6 months only. My agency recommended these companies to work...

[sru825]

Hi,
I have recently got new contract that falls under Inside IR35 .
I was assessing weather its still good option to continue through my own limited company.

The agency will deduct tax at Basic Rate, Employee NI, Employer NI at source and will deposit around £8000/month...

[derloopkat]

By October last year I became a contractor in the IT sector and completed two assignments (2 to 3 months each) as senior software developer, using my new limited company. For the last 3 months I was not working but still paying my accountant Brookson £170 a month as they claim I need their services...

[pabs]

Hi All

I have recently been put forward for some contract roles through a recruitment agency. The agency have asked me to inquire about either setting up a limited company or using an umbrella company.

Last night i phoned a company called Compare the Umbrella (comparetheumbrella.co.uk)....

[Jcochr]

I can't get my accountant to do straight line depreciation on IT hardware as I believe is normal. The problem comes when you wish to close down the company and they have done reducing balance. They try to say that they only do reducing balance. Can the director insist on a particular depreciation scheme?...

[ventingbasher26]

Afternoon All

Forgive me if this has already been addressed

I am an IT contractor and have set up a limited company. I have a single client whom I work for and bill through the company. If i were to take the IR35 test would I fail? If so is there any other way round it?...

[hawkley]

Hi folks. I'm a newbie to this site. I've read through some previous posts but found them difficult to compare to my own situation.

I've been operating my own limited company for exactly 2 years now. In that time I've taken a salary of c£10,600 for the second year and a dividend of c£23,000....

[Neo]

I have been offered a contract in the Netherlands and I understand I could work in one of the following ways:

1. Under my own BV (Netherlands limited company).
   
2. Under my UK limited company.
3. Via a payroll company.
   
4. Part payment to my BV or UK limited company and part payment (€200)

...

[oldlag]

Having retired from full-time work I am hoping to continue working part-time but no more than 6 months in any calendar year. And this 6 months might be made up of a number of shorter periods throughout the calendar year.
I would prefer to set up a Limited Company rather than go through an umbrella...

[Cora123]

Background - I am new to IT Contracting and have just set-up a new limited company

Quick question - I have three children under the age of 6 years old so my childcare costs per month are high! As the sole employee/director of my small limited company can I claim some/all of this as an...

[fwd]

Just started contracting again after years of being permanent. The last time I was a contractor I paid my accountant £150pcm to use an online tool but this time around I wanted to see if I could do it myself. After some researching I'd like to share my current understanding and hopefully someone can...

[Sonia]

Hello everyone,

I've recently opened my Limited company and added my partner as a second director. As we just started contracting and keep it just as a part time thing the income isn't very high yet (around 13 -15 thousand a year). The issue that I would like to find out about is whether...

[inbetweener]

Hi,

I have read all sorts of info / forums on the pros and cons of Umbrella companies vs Limited Companies.
I thought I would be "clever" and create a limited company. I've haven't traded yet. Now I'm it looks likely that I will have between 2 to 3 months work at £150...

[happyuk]

Hi would appreciate some advice on the following matter which is creating a fair amount of stress.

For the past 2 x years I had been contracting using an umbrella company (Parasol). Because of the 24-month rule I considered the possibility of setting up my own Limited Company, and actually...

[Wolfgirl]

Hi,

Completely new to contracting, just been offered first contract and trying to choose an accountant. Danbro was recommended by the recruiter and I have had a chat with them which was very helpful to get an idea of umbrella vs limited and what my take-home would be for the various options;...

[nicofars]

Not sure where to get the advise, yes I can ask my account but he will just give me the legal aspect.

So as the subject of my post, I am going to move my activity a little bit wider and partner with someone who doesn't have a business yet. To start "fresh" we decided to create...

[DRobin8410]

I am ineligible to be a Company Director and normally operate through UMbrella companies. However, a number of agencies and clients are no recognising umbrella companies. Is there an alternative vehicle I can use to apply for contracts via agencies that only deal with Limited Companies?

[TManby]

I have recently set up a Limited Company in line with the Financial Contract I work on. Being new to the world of 'self employment' I am keen to seek advice on what I am OK to claim on expenses.

I rent a flat each month around the area my contract is based. My flat is several hundred...

[c0ntract0r]

Have lost my job so am being forced to get into contracting at the moment.
Starting out , I feel like a little child lost in a maze. I would appreciate any help that you guys can provide.

I have an offer for a contract but need to decide whether to form my own limited company,...

[cprelude]

Hi all,

I was wondering if I could get some advice on a situation I don't fully understand. My Ltd company is up and running, already in existence etc. However, I have just accepted a PAYE full-time job, and am unclear about what to do regarding my company. I do have an accountant on-side,...

[GlobalContractor]

I run a limited company as the sole Director I am thinking of cancelling the services of my accountant and doing my company's tax, VAT/PAYE, Salary and dividends all myself.

What information do I need to ask my current accountant? Is there a list of items that I need to ask my current...

[LotsOfHeadScratching]

Hi all!
Can anyone tell me if it's better to have 2 separate limited companies, or 1 limited company for 2 contractors. Hubby and I are both contractors and have a company each, but are considering merging into one.

Any thoughts? I'm guessing its better for IR35, but thats a guess....

[pavichal]

Hello

In a previous employment, I was provided with a personal pension plan into which my employer made regular Gross monthly contributions(for nearly 10 years). I left the company 3 years ago and the plan has had no further contributions made to it. I have since setup my own Limited...

[Zuokas]

Dear Contractors,

Just wondering if anyone uses the same ltd company for contracting and selling their apps on App Store, Google Play, Kindle Store?
If yes how does that affect the accounts?
Any other problems, issues or disadvantages?

Cheers!

[JavaBrussels]

What should I look for in company formation provider?

What has others been missing with whom they have been using?

Any recommendations according to the criteria below?

I think I should have everything that is natural to buy from the provided with good technical solutions

...

[london2012]

Hi,

Having spent the last 6 years as a Spanish Tax resident, I'm returning to the UK, possibly permanently - I'm a British national and my wife is Spanish.

I contract for UK companies through my own Spanish limited company (est. 4 years ago), and currently spend under 90...

[Jonny1979]

Morning All,

I'm new here and hope that I can ask you for assistance in relation to my first (and probably last!) year-end. I incorporated a limited company last year to provide drainage services. Two directors, myself and partner, though he immediately was unable to provide the service...

[Crackers]

Hi all,

I got confirmation that my Limited Company has been struck off and removed from the company register on the 24/04/2012 (last day of trading was 31st July 2011 and I started permanent employment on 1st August 2011).

So far so good, however, I was under the impression...

[MnF]

Hi

I am just in the process of changing from a sole trader to a Ltd Company, and I getting lots of conflicting advice. The main reason I am changing is that I was told that I can have myself and my wife as shareholders, pay ourselves a minimum salary (about £7000/year each) that will...

[cimos77]

Dear Forum,
I have a limited company I use for contracting. I am moving for a while oversea and my accountant is suggesting to appoint him as company secretary, he say this will make the things easier if he need to solve some problem.

What do you think?

Thanks

[aix123]

Hi,

My first post, so please bear with me...


I have a limited company which I've been using as an IT/engineering contractor for the last four years. I have had no income for the last year or so, and wish to close the company, or at least change the business type,...

[djj]

Hi all,

Recently found myself a contracting position and I have signed up under an umbrella company as the position came about suddenly.
Anyhow I was reading some information on some website saying it is best to set up your own limited company if you earn more than £25.000pa....

[nealus]

As a long discharged (over 2 1/2 years since) but less than the 6 years until it drops off the credit record, I wonder if this will have a detrimental effect on setting up an LTD, with regard to the bank account. I know that different banks have different scoring systems and it isn't set in stone that...