Contractors & Ltd Co

[silver.fox.2008]

Can anyone point me in right direction for details on contracting and setting up a ltd company.

Simple Scenario

If i was to go contracting and invoice 5k per month at the start, would it be worth my while to set up a ltd company and pay myself a salary through it or to go self employed. Also what tax implications would i have and would it benefit me in anyway.

Thanks

[mas99]

You will not find any agencies prepared to put you forward as a 'self employed' trader. I doubt that anyone would treat with you direct either.

Your options are ltd (usually the best option) or umbrella.

Have a look at the first timers guides at the PCG and be freely insulted at CUK.

Ltd gives you better control of your business but at the cost of needing to understand it. Not a problem if you really are in business. Brollys will make things easier for you but you'll pay more tax.

IR35/s660 etc are great reading for insomanics.

[silver.fox.2008]

mas99 said:

You will not find any agencies prepared to put you forward as a 'self employed' trader. I doubt that anyone would treat with you direct either.

Your options are ltd (usually the best option) or umbrella.

Have a look at the first timers guides at the PCG and be freely insulted at CUK.

Ltd gives you better control of your business but at the cost of needing to understand it. Not a problem if you really are in business. Brollys will make things easier for you but you'll pay more tax.

IR35/s660 etc are great reading for insomanics.

CUK - Contractor UK?
PCG?

[Eric Mc]

PCG - Profesional Contractor's Group

Have a search in the Business Forum here as this topic has been discussed quite a bit over the last few years.

[Olf]

Good accountant will do it all for you. Canvass your friends or colleagues for recommendations.

[silver.fox.2008]

Cheers guys