Umberella Or Ltd

dori2o

My brother has recently gone through the same issue. He's a contractor for British Gas who following an investigation by HMRC are now forcing all long term contractors into Ltd company/umbralla company routes.

This issue is really one where you do need specialist advice and isn't one that can be dealt with via a forum.

In the end the accountant my brother hired suggested Ltd company was the way to go, especially in his case due to travel expenses which are more of an issue now depending on the terms of engagement with your umbrella company given the change in rules for people who work via employment intermediaries from April 2016, and due to personal bad experience he's had with Umbrella companies in the past.

it's best to fully understand them in order for you to make an informed decision given the many complications in this area, and if it were me, I would definitely seek professional one to one advice.

In this particular area, even if there is a cost to obtaining the advice, it's a cost that it well worth it to make sure you fully understand the options available to you.

The last thing anyone wants with this issue is to make a decision which leaves you significantly out of pocket.

Potbellypig

aayush wrote: »

Hi

Can Some please advise which is best from the above as mostly done work as PAYE in companies but now doing temp work here and there

It depends on your circumstances really. If it's just a bit of temp work, you might be better off letting some else hold the umbrella. But if it's longer than that then providing you've got someone who knows what they're doing (an accountant, generally), you'll be much better off financially as a Ltd company.

If you are going through the Ltd company route then you'll need to pass IR35.