Contracting Advice - Umbrella Company

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MP14
MP14 Posts: 55 Forumite
in Small biz MoneySaving
Hi there

Just after a bit of advice. I have an interview on Thursday but it is for a contracting job. I have absolutely no experience of contracting so feel a bit out of my depth.

The chap from the agency said there are 2 options -

a) set up a limited company in order to invoice etc
b) use an umbrella company (and he has sent me details of their preferred partner)

The initial contract is only for 3 months so would be a bit reluctant to set up a limited company incase contracting is not for me. Are these umbrella companies reliable/above board?

Any other advice for a potential newbie to the world of contracting?

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  • 00ec25
    00ec25 Posts: 9,123 Forumite
    Combo Breaker First Post
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    MP14 wrote: »
    Are these umbrella companies reliable/above board?
    have you done any basic reading of your own yet?

    lots of info readily available explaining what umbrella companies are

    http://lmgtfy.com/?q=explain+umbrella+company
  • motorguy
    motorguy Posts: 22,473 Forumite
    Name Dropper First Anniversary First Post
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    MP14 wrote: »
    Hi there

    Just after a bit of advice. I have an interview on Thursday but it is for a contracting job. I have absolutely no experience of contracting so feel a bit out of my depth.

    The chap from the agency said there are 2 options -

    a) set up a limited company in order to invoice etc
    b) use an umbrella company (and he has sent me details of their preferred partner)

    The initial contract is only for 3 months so would be a bit reluctant to set up a limited company incase contracting is not for me. Are these umbrella companies reliable/above board?

    Any other advice for a potential newbie to the world of contracting?

    I would go umbrella if this may be a one off, as opposed to a lifestyle choice. You can also change later easily if needed.

    Have a look around

    http://forums.contractoruk.com/

    Lots of useful info on there and a list of reputable umbrella companies.

    Its all daunting at first but you'll take to it like a duck to water. I've been at it 2.5 years now and so wish i'd done it sooner. Just heard they want me for another six months where i am currently so well pleased. :beer:
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