Umbrella PAYE v Ltd Company help please

[B16JUS]

Hi ive always been paid PAYE monthly but new job pays weekly by the hour and i need to decide between Umbrella PAYE or LTD company

Any good accountants on here can help me please ? dont want all the hastle etc if im only saving 30 or 40 a week

Or if anyone has done either i would love to hear

Thanks

J

[greggers]

You'll need to tell someone your daily rate to work out the difference, any half decent umbrella will happily quote you a take home figure, and if they're really decent/honest they'll tell you if you're better off going LTD company.

Even with an umbrella there'll be stuff you need to do, like filling timesheets, recording travel receipts, expenses etc. Although on the plus side you can be up and running very quickly and they will bill the client for you, they'll also cover you on the insurance front.

Going LTD, again an accountant will help set you up, there is a little more to do like billing the client and you'll have to sort your own insurance, get a company bank account. Generally it takes a little longer to setup.

How long is your first contract? Most clients wouldn't have a problem switching from umbrella to limited company, so if you want peace of mind go umbrella for 3/6 months to give you time to set a limited company up and then switch.