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Limited company UK

  • 29-01-2012 6:42pm
    #1
    Gradcivil
    Closed Accounts Posts: 9 ✭


    Hi......A recruitment agency rang me during the week telling me about a position I would be interested in taking which is in London.

    However, they said I would be paid on an hourly basis and would have to set up a limited company as I would basically be self employed. This kinda put me off the job as I would have hoped for a salary.

    So, I just wondering has anyone any experience setting up a limited company in the UK? Is it difficult to set up? What are the advantages/disadvantages? Is this the normal procedure in UK?


Comments

  • #2
    lmmoonbeam1976
    Registered Users, Registered Users 2 Posts: 207 ✭✭lmmoonbeam1976


    Gradcivil wrote: »
    Hi......A recruitment agency rang me during the week telling me about a position I would be interested in taking which is in London.

    However, they said I would be paid on an hourly basis and would have to set up a limited company as I would basically be self employed. This kinda put me off the job as I would have hoped for a salary.

    So, I just wondering has anyone any experience setting up a limited company in the UK? Is it difficult to set up? What are the advantages/disadvantages? Is this the normal procedure in UK?

    sounds a bit dodgy to be honest -- no agency would tell you you have to set up a ltd company


  • #3
    Zizou
    Registered Users Posts: 29 ✭Zizou


    Dont think it's doddgy, have been a similar situation in the past sub-conrtacting / outsourcing in IT industry.

    You can use a specialist provider of accountancy services for professional independent contract and contracting companies or use your own Ltd company.


  • #4
    whatnext
    Registered Users, Registered Users 2 Posts: 916 ✭✭✭whatnext


    lmmoonbeam1976 wrote: »
    sounds a bit dodgy to be honest -- no agency would tell you you have to set up a ltd company

    Most agencies will not engage sole traders.
    Most agencies prefer not to engage contractors on a PAYE basis for a number of reasons.

    Therefore the alternative is Umbrella company or Set up your own Ltd company.

    Its not dodgy, its common practice.


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