Consultancy work/Self employed

OhMyGod123

Hi Guys

I am thinking of moving into the consultancy world with the option to avail of a contract which provides a very good daily rate. I see this is a short to medium term decision. I was just wondering what I would need to do in terms of setting myself up and also the best options open to me

Any help greatly appreciated

Eoin

I think the Entrepreneurial & Business Management forum might be better for this, if you need to find out more info on the logistics of setting up. Let me know if you'd like me to move this thread.

OhMyGod123

Hi Eoin - It would be great if you could move this thread please

Eoin

Thread moved from work/jobs

srsly78

Does your contract require you to operate through a company (either your own, or an umbrella)? If not you could operate as a sole trader.

You say short-medium term: if you set up a company yourself there is a lot of hassle involved, which will cause you rage if you only use it for a few months. An umbrella is best in this short-term case, but imposes some constraints and extra tax liability.

ssbob

srsly78 wrote: »

An umbrella is best in this short-term case, but imposes some constraints and extra tax liability.

How do you mean umbrella?

Best option here I would feel is sole trader depending on the line of business you are consulting on? Can you give us more information?

srsly78

http://en.wikipedia.org/wiki/Umbrella_company A quick google will find you an Irish one.