Too good to be true..........

[ibit]

Hi,

I am new to contracting and plan to start work in early January,

After doing some research into the most tax efficient way to proceed it appears a limited company is the best way to proceed, although there are several companies out there to name a few-

http://www.contractor-pay.co.uk/?gclid=CMex3oP6lK0CFYQLfAodnWyeoQ
http://www.darwinpay.co.uk/toolbox/contractors-pay.php?&utm_source=Google&utm_medium=cpc&utm_campaign=Contractors_Pay&utm_term=contractors_take_home_pay&gclid=CJfE1qD6lK0CFYuIfAod8UKRng
http://www.choicepremier.com/?gclid=CO31iK36lK0CFSFItAodW1EX1A

Who offer contractors between 85- 90% guaranteed take home salary through various loan mechanisms. This appears to good to be true and I would just like to check if any members have/ are using such companies and if so are they true to there or word or is this just wishful thinking on my behalf.

Cheers

Ian

[Incredulum]

Do not touch umbrella companies with a barge pole.

What they know about tax can be written on the back of a scrap of paper.

I once was contracting, and insisted on going on my employer's payroll rather than using their preferred umbrella company as the risk seemed extraordinary.

Just my view. Try asking this in the "income tax" section.

It depends, of course, on how many clients you will have at the same time.