I was hoping someone in a similar situation might be able to offer me some advice.
I recently applied for a job via an employment agency and was successful, and would like to accept the role.
However, this would involve me being paid as a Ltd company. The agency have advised that they use an umbrella company to run the Ltd companies.
I believe that this means that I just simply fill in a timesheet, and they do everything else, and just pay me the money.
However, I am not sure how much money they would take from my wages to provide this service?
This got me thinking maybe it would be a good time to setup my own Ltd company, however I have very little knowledge of what this involves.
I imagine startup costs, and also completing my own returns are the negative aspects.
However, I would think the benefits could be, that I could also do consultancy work in the future, I would not be paying the umbrella company a fee, I could potentially save money on future purchases like a computer by reclaiming the tax as a business cost.
Could anyone please offer me some advise please?