View the thread, titled "paye umberala companys" which is posted in Business Related on Electricians Forums.

So is it best to set your own ltd company up what's the pros and cons of doing that

If you are working through an agency it is the only realistic option.

Pros are you dont have to pay the parasite payment company for your money,you can claim for a lot more things as tax deductable,you pay less tax on your earnings,you can also have 100% of your wages every week to help with cashflow

cons there is a lot more paperwork so you will definetly need an accountant which will cost more.Also if you are not good with money and dont set the tax aside you are looking at a big tax bill at the end of the year
 
I can send you the link for the company i used but i want to make it clear i am not associated with them in any way.Company set up,vat registered,business bank account £32.I will leave this here for the mods to look at
 
Haven't had to change anything so far ,one of the lads called up the Agency to Query it & they are claiming to have not heard anything about the Change in the Law for subbies :D
 
Wow! Second class citizens or what! Really interesting blog, I knew I had a bum deal but seeing it in black and white (black & red) puts it into perspective..

As a recently qualified sparks, agency work is the only real option as firms will obviously choose time served JIB electricians over me.

Give me a break!
 
If they do try and force you through an umbrella company just hope that it isn't Danbro. A complete nightmare, I don't think they ever made a payment to a contractor on time.
 

Reply to the thread, titled "paye umberala companys" which is posted in Business Related on Electricians Forums.

Best EV Chargers by Electrical2Go! The official electric vehicle charger supplier.

OFFICIAL SPONSORS

Electrical Goods - Electrical Tools - Brand Names Electrician Courses Green Electrical Goods PCB Way Electrical Goods - Electrical Tools - Brand Names Pushfit Wire Connectors Electric Underfloor Heating Electrician Courses
These Official Forum Sponsors May Provide Discounts to Regular Forum Members - If you would like to sponsor us then CLICK HERE and post a thread with who you are, and we'll send you some stats etc

Advert

Daily, weekly or monthly email

Thread starter

Joined
Location
Wirral
Business Name
Farm electrics

Thread Information

Title
paye umberala companys
Prefix
N/A
Forum
Business Related
Start date
Last reply date
Replies
36

Thread Tags

Tags Tags
None

Advert

Thread statistics

Created
Farmelectrics,
Last reply from
Steve Macrie,
Replies
36
Views
6,995

Advert

Back
Top