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First time contractor - PLC or Umbrella? Please explain differences..

  • 12-12-2017 08:55PM
    #1
    Cona
    Closed Accounts Posts: 591 ✭✭✭


    Guys, apologies if this has been posted before but I've read every thread so far and am still confused.

    Basically I am going out as a contractor and am trying to decide between umbrella or PLC. Now I have heard all the points of each but I can't decide.

    - Umbrella company seems easier to setup and deal with, manage only thing stopping me is it will potentially cost me more money...?..

    - how much would I save if I setup a PLC assuming this is the most tax efficient way versus an Umbrella? I understand there is more upfront costs with the PLC...

    - is there any difference with getting paid when using an umbrella vs PLC? I've heard some stories around PLC being paid late for work done? I would be going through an agency for the client (client usses this agency a lot) so I assume this is irrelevant here?

    Just really trying to understand how much tax efficiency I will achieve by going the PLC versus umbrella???

    Thanks for the advice!


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    I presume you mean limited company rather than a plc. Surely spending a huge amount to list shares on a public market is a bit ott.


  • #3
    Cona
    Closed Accounts Posts: 591 ✭✭✭Cona


    CIARAN_BOYLE wrote: »
    I presume you mean limited company rather than a plc. Surely spending a huge amount to list shares on a public market is a bit ott.

    Yes, limited company, NOT PLC ;(


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