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Where Taxpayers and Advisers Meet

Contractor inside IR35 - why set up a limited company?

ironman
Posts: 3
Joined: Wed Aug 06, 2008 3:15 pm

Postby ironman » Mon Dec 27, 2004 3:17 pm

I am a UK resident working from home for a US company.

I understand that with a limited company I am liable for tax breaks... but the employer's NI contribution seems to be more than any tax breaks I can claim.

Is there really any benefit to me starting up a limited company, or working through an umbrella limited company? Or am I missing something?

Thanks.

cranleys
Posts: 567
Joined: Wed Aug 06, 2008 3:13 pm
Location: Basingstoke
Contact:

Postby cranleys » Tue Jan 04, 2005 4:20 am

Ironman

The Limited company with IR35 will still enable you to make tax breaks including the NIC and 5% allowance for training. Usual expenses are also permitted. An umbrella company will also give you admin benefits.

Colin


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