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Contracting advise needed

  • 03-12-2015 12:59PM
    #1
    Registered Users, Registered Users 2 Posts: 446 ✭✭


    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


Comments

  • Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,560 CMod ✭✭✭✭Nody


    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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