[Gllug] OT: umbrella companies for contract work

[Alain Williams]

On Fri, Nov 04, 2005 at 09:00:53AM +0000, Lee, Paul wrote:
> Wiehe, Simon wrote:
> >
> >Setting up a company is very easy, it costs very little if you do it 
> >yourself. Take a look
> >at http://www.companies-house.gov.uk, all the forms are there. All you 
> >need is a decent local
> >accountant once you are running. You can buy an off the shelf company 
> >which normally only costs about £90, but you don't get to choose the name.
> >
> Hi
> Might be worth pointing out that Ltd companies are very easy to setup 
> but bear in mind there is an ongoing obligation to file annual returns, 
> and accounts even if dormant, which will cost you at least a few hundred 
> £££ a year at least (though for a little firm this is really only a 

If you use accountants to do a NILL return, but for a dormant company you can do it
yourself for something like 15 quid/year.

> balance sheet - there are no audit requirements). The fines and 
> penalties can be heavy if you don't.
> 
> Also winding up costs if you no longer need the ltd.co can be 
> significant (if you get an accountant to do it).
> 
> I mananged to get out of contracting just before the IR35 business 
> started with the revenue.
> 
> Paul
> // www.ma1.se //  // www.tbwnet.co.uk
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-- 
Alain Williams
Parliament Hill Computers Ltd.
Linux Consultant - Mail systems, Web sites, Networking, Programmer, IT Lecturer.
+44 (0) 787 668 0256  http://www.phcomp.co.uk/

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