And It Was So...

[CaNsA]

After speaking with a few guys i know, it does seem that this is a far better idea than using an umbrella company.

[Harold_Shand]

Does it have to be a limited company? I'm just wondering because someone I know has been told that she may have trouble getting paid if she is not a limited company in other words, sole traders not welcome in that 'industry' ( management coaching... ffs, what will these people do when the shit really hits the fan?).

Seems mad to me to set up as limited before you've written your first invoice.
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BCF's 6th favourite poster 2009-2010

Harold_Shand's theory might be the best explanation.

[Paivi]

[hellkat]

So in relation with the original post over in Aunty BCF, what is the purpose of an umbrella company? And in what industries is it most effective?
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Not nearly as interesting in real life.

[multijoy]

The advantage of an umbrella company over a ltd company is someone else does the administration.

I had a limited company when I was contracting for a while, and I found it was a complete ballache to administer. You take home perhaps 15% more of your invoice, but you do have to put some work into it.

I think a good rule-of-thumb is £250+ a day for more than three months, then go limited.

It's most often an IT contractor thing, but any 'professional service' (comms, PR, accounting etc.) is a candidate provided you're a contractor (IR35 notwithstanding, of course)
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'11 CBF1000A, '99 C90, '98 CB500
silky666: He rode amazingly well considering his bike is the weight of a small van and had slicks on.

[CaNsA]

My missus will be doing the books.

WIN!

[Harold_Shand]

So why has Cansa got to set up as ltd, why not just sole trader?
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BCF's 6th favourite poster 2009-2010

Harold_Shand's theory might be the best explanation.

[hellkat]

And more to the point, how did Nobcat not get copyrighted?

I'ma open me a brothel called Nobcat's House of Nob-nomming, and have a picture of Nobcat on there, to draw in the big payers.

(who prolly wouldn't pay *quite* so much when they discover there was only a skinny Romanian waif in a cobweb nightie to suck them off, but advertising is all about the image, after all)


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Not nearly as interesting in real life.

[P.addy]

I can't wait to see your invoices/adverts

[LordShaftesbu...]

[multijoy]

[daemonoid]

[CaNsA]

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-snc7/s720x720/484258_10151811888585790_844443896_n.jpg

[Paulington]

[CaNsA]

[CaNsA]

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/s720x720/250960_10151834259245790_1146153998_n.jpg

[brythered92]

[oldpink]

LOL I love it

I did umbrella when I was IT contracting, just about to go self employed
with the object to be a Ltd by the end of next year don't want to show my hand to the taxman too soon
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I have become comfortably numb

Theory & hazard 24-may 2016, CBT 8th June 2016, MOD 1 2nd Aug 2016 Mod 2 2nd-Nov 2016 - Current bike CBR 600 RR

[bacon]

Im limited for my contracting, its no big deal/effort tbh, just work out roughly your tax you owe each week, keep it in the BMM account, pay yourself your expenses each week (i only do fuel and digs, the rest will be a bonus at the end of the year when my tax bill is lower than what i save for) and just chuck yourself a dividend each month.
Chuck all my paperwork to my account at the end of year with a mountain of receipts, pay tax bill

Be careful of IR35 though

[st3v3]

You might consider a slogan:

Whatever your setup, whatever your kit -
Gives us a call, NobCat does IT.


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Roger wrote: Women don't get damp for clingy puppies. Get some better happy pills, hit the gym & buy a medallion the size of a dinner plate. Job done

[Frog]

Ours isn't just an umbrella company but we have to make sure that we don't just get paid by dividends. I suspect the same would apply to an umbrella/limited company setup for tax avoidance reasons.

We get paid just enough to pay tax and NI through the PAYE system, and get the rest of our 'wage' via dividends.

If you dont, you might find pensions a problem if you need one from the state later on.
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CBT 23/09/10 - Theory 19/03/11 - Mod1 19/04/11 - Mod2 06/05/11
Bikes: CBF125 (sold 30/10/10-25/09/12) - CB400 24/06/11 (broken) - ER6-f 25/09/2012

[CaNsA]

https://www.facebook.com/NobCat.IT

[Ariel Badger]

And that is why Facebook is down ATM.
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Bikers make great organ donors, get 115 on your licence today.

[CaNsA]

Yeppers, facebook cant handle the traffic