Help with offer of using Ltd company or Umbrella

Stylehutz

Are there any good comparison sites comparing both.

Basically I have been put forward for a position paying £13.00 an hour for 40 hour week with Ltd company. My current role with agency/umbrella is £10.50 per hour. I assume I will be a lot better off financially with the £13.00 per hour ltd company. I dont know how much better off though.

IF offered the job I would prefer to go through umbrella as dont want hassle of setting up Ltd company

Any help appreciated

paddyrg

Hassle and frankly cost and obligation. The umbrella company takes the gross rate, works out how much they have to deduct for your tax, employers NI, employees NI, holiday, pension contributions, student loans, etc, and then creates a figure they give you as net pay, then add back any expenses you can claim, run your payroll, take a fee, but give your an easy life. If you form your own company you have to get savvy about all that plus doing RTR, year end corporation tax returns (most pay an accountant several hundred quid a year to do those alone, plus pay the tax), and a personal tax return as a director.

questionss

When I was locuming years ago I was advised not to consider setting up a limited company unless I was earning £30k plus per annum