Contracting - Ltd Company or Umbrella?

[captain jack]

I'm off to work for Bentley at the end of the month - what's the current thinking with regards to the pro's and cons of LTD Company v Umbrella company?

Also looking to replace my car - does going LTD Company give me access to business lease?

Thanks in advance for any comments!

[Eric Mc]

If I had a £ for every time this question was asked......

[worsy]

lol @ Eric

Ltd - More control, better tax efficiency assuming outside IR35
Umbrella - Lazy option, less hassle

Choice is all yours.

[RobGT81]

worsy said:

lol @ Eric

Ltd - More control, better tax efficiency assuming outside IR35
Umbrella - Lazy option, less hassle

Choice is all yours.

That's about it summed up nicely. You can squeeze a few extra pennies out of it by going Ltd, depending on your accountant. Check out Danbro, very helpful Umbrella company.

[MagicalTrevor]

Have a look at contractorcalculator.co.uk, there are a few guides on there with comparisons that might help you.

Plenty of different accountancy companies that would cost anywhere from £70+vat to £120+vat per month.