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  1. #1

    Nervous Newbie

    Clarky5 has no reputation


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    Hi,

    I was made redundant recently and am searching for a new permanent job. In the meantime a previous company have offered me a contract on 500 per day, on an ongoing basis, but it won't go perm. Is it worth the effort of setting up a Ltd company for something that could only run for a couple of months, or better to just use an Umbrella company? Also, how quick is it to go either route, as contract could start on Friday!!

    Many thanks
    Graham

  2. #2

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    It's highly likely you will be inside IR35. It can be debatable but for a couple of months it's probably just better to go brolly and forget that issue.
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    Speak to Lisa and her team at Contractorumbrella if you want a good brolly. She posts in here a lot and were good when I used them.
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  4. #4

    Nervous Newbie

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    Quote Originally Posted by northernladuk View Post
    It's highly likely you will be inside IR35. It can be debatable but for a couple of months it's probably just better to go brolly and forget that issue.
    Thanks, having done some reading I was worried about it being caught in IR35 but it seems such a grey area!

  5. #5

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    Pretty common question as well so we'll covered in these threads.
    https://www.google.co.uk/search?q=co...obile&ie=UTF-8
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  6. #6

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    Great, thank you very much. Having done some reading I was concerend about the IR35 side of things, so probably easier to avoid it in this case.

  7. #7

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    I can't see anything that says it's IR35 caught. Why do you assume that it is?

    Either way, umbrella is the way to go for short term work if you have no great intention of going contracting. And I would also endorse Contractor Umbrella, one of the few totally straight ones.
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  8. #8

    Should post faster

    DeludedKitten is too good to be a permie

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    Quote Originally Posted by Clarky5 View Post
    Hi,

    I was made redundant recently and am searching for a new permanent job. In the meantime a previous company have offered me a contract on 500 per day, on an ongoing basis, but it won't go perm. Is it worth the effort of setting up a Ltd company for something that could only run for a couple of months, or better to just use an Umbrella company? Also, how quick is it to go either route, as contract could start on Friday!!

    Many thanks
    Graham
    Either one can be done fairly quickly, IMHO - you can get a company registered in minutes, for example.

    Question really is whether you are likely to do this for a while / stay contracting, or is this a one-off until you find something permanent. If you're going to keep this up then at that rate you'd be better off outside IR35 and through your own limited company. If you're not going to stay contracting then it'll be quicker, easier and you'll pay more tax by going through a reputable umbrella company (if it says 85%+ take home then it's not a reputable one and walk away).

    Good luck with whichever route you choose.

  9. #9

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    Quote Originally Posted by malvolio View Post
    I can't see anything that says it's IR35 caught. Why do you assume that it is?

    Either way, umbrella is the way to go for short term work if you have no great intention of going contracting. And I would also endorse Contractor Umbrella, one of the few totally straight ones.
    Because with the total lack detail I'm happier assuming they've made the OPs position redundant but there is work still to do. IMO it's much more likely its going to be the same work I. E. a Friday to Monday situation than not. If we had more to go on the assumption might change but just throwing IR35 in there as it's another factor, along with duration that makes a brolly look more attractive.

    There used to be a figure of around 30k where it was only worth going LTD if you were going more coming in. Not sure how that's changed with expenses stopping nowadays but still worth considering for the OPs situation.
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    Quote Originally Posted by northernladuk View Post
    Because with the total lack detail I'm happier assuming they've made the OPs position redundant but there is work still to do. IMO it's much more likely its going to be the same work I. E. a Friday to Monday situation than not. If we had more to go on the assumption might change but just throwing IR35 in there as it's another factor, along with duration that makes a brolly look more attractive.

    There used to be a figure of around 30k where it was only worth going LTD if you were going more coming in. Not sure how that's changed with expenses stopping nowadays but still worth considering for the OPs situation.
    It's a previous company, not the previous one...

    Plus the OP isn't in this for the long term at this point...

    Hence use an umbrella anyway.
    Blog? What blog...?

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