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Contracting advise needed

Ande1975 · 2015-12-03 11:59:40

Hi all, I have been offered a year long contract. I have never contracted before. I would hope that it would turn into a permanent role after a year. My question is, would it be better to set up a Limited Company or go with an Umbrella company? What are the pros/cons? Many thanks for any help/guidance, A

03-12-2015 11:59am

#1

Ande1975

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Join Date: October 2011

Posts: 413

Hi all,

I have been offered a year long contract. I have never contracted before. I would hope that it would turn into a permanent role after a year.
My question is, would it be better to set up a Limited Company or go with an Umbrella company? What are the pros/cons?

Many thanks for any help/guidance,

A

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Comments

#2 03-12-2015 1:20pm

Nody

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Posts: 16402

Well for starters keep in mind no paid holidays, sick leave etc. so you need to put away money accordingly; secondly a permanent role will offer a significant lower salary than your contract rate (as the company will pay social fees, holidays etc.) so make sure to look at net net comparisons if you do get offered a permanent role.

If you are only going to contract for a year and hope to go permanent an umbrella company is probably going to be your best bet (less overheads hassle at a cost).

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