Employment contract advice

[Caspar]

I've finally secured some contract work, yay! - not the NHS job.


What I need is advice from those whom contract work or know about it. I need to decide between a umbrella or my own limited company.

I understand that it's more benefical to only go my own limited company way if the contract is worth over a certain amount, why and how much?

I also understand that as I'll be invoice or the umbrella company on mybehalf, that I can claim expenses, what's the deal and who would this be from? or is it just tax exempt, so claim tax back?

how much tax will i be paying, % wise?


Any advice on sorting and suggestions of good reputable contract umbrella companies please, which do you use?

Contract work starts Tuesday :)

[Arthurgray50@blu]

Read the contract, word for word.

[Caspar]

Aye for sure, I should get the contract on Monday, anything dodgy I should look out for?


Any advice on the above?

[joglynne]

Casper I have just found the following site which may give you some more information to help you to decide which option to choose. Although it does seem biased towards using an Umberella Company, which is par for the course in view of what they do, it does contain quite a lot of information about setting up your own Limited Company.

If you do choose the Ltd Co. route make sure you get an Accountant who you can trust and not just one with a nice office. :)

http://www.umbrellasupermarket.com/

[Caspar]

Thanks for the advice, still not sure on the bets route umbrella or limited company... that website was super biased towards umbrella! :)

[joglynne]

We have had similar discussions in the past and I think this one covers the Limited Company option very well.

http://www.cableforum.co.uk/board/22/33628162-anyone-working-through-an-umbrella-company.html