Contracting in UK

Danny_1983

Hi Everyone...

I have been offered a job on a 6 month rolling contract for part of the NHS trust. Now, i have never done contracting work before and the agency are suggesting i either sign up to a 'umbrella company' or setup my own Ltd company...i was wondering if anyone here has any advice!?

EdTheLad

Been there done that on both counts, 100% go with an umbrella company.
In the UK there was a law brought in about 5 or 6 years ago called IR35, check it out.
Before IR35 having your own company was the way to go, after IR35 umbrella all the way.
Managing your own company is an admin nightmare, even if you have an accountant you will have to do alot of admin, worst mistake i ever made was starting a company, after a year i started shutdown proceedings and went the umbrella route.Closing the company took 2 years and i have to keep company accounts for 7.

tiersten

Umbrella. Some consultant got screwed over because of IR35 just the other day. They claim that since his company was basically solely working for the AA over those few years and that since he was the only employee then he was pretty much an AA employee.

jibbajabba

Agree, umbrella all the way ..

http://en.wikipedia.org/wiki/Umbrella_company

Danny_1983

Cheers guys - i have signed up with a umbrella company and it was nice and easy, much appreciated

Lee H

Hi

Which umberella company have you gone with, they all operate differently and i can say 100% each of them will calculate a different take home pay, the biggest difference i got £60 a week, yer i know i nearly fell of my chair

I have been with about 6 umberella comanies in the last 2 years, so i can tell you if you made the right choice

Let me know

Lee H