Ltd company

Guys, is it worth setting up as ltd company working for agency who is going pay £11 hourly , £2 more than I’m on currently for class 2 work , he’s given me loads of information and google is a minefield of info also.
Wanted to ask the guys on here for any help or advice.
Appreciate any advice.

Sent from my iPhone using Tapatalk

NO

Yes it is. All you wanna do is make sure you busy all year and also get a good accountant. Thats it

Sent from my iPhone using Tapatalk

You would probably end up a bit better off once you’ve factored in paying yourself holiday pay and claiming various expenses.

It’s just that right now is the wrong time, as a driver, to be setting up a limited company. It’s been a massive scam from the start. False self-employment if you want to put a label on the scam. It will all be brought to an end sooner rather than later.

I personally wouldn’t bother but if you do be careful what you claim expenses for. The days of claiming hundreds of pounds a week for anything you can dream of are over.

This is of interest to me also…

I have been to chat for a job with an agency and the guy was telling me to set up as Ltd Company, they would recommend a bookkeeper (though I am not 'obliged to go through him he said) pay the bookkeeper and the bookkeeper would deduct whatever tax/NI after applying all expenses/untaxed whatever. He would charge a small monthly fee in the region of £35 per month

I never heard of this before so it really did not ‘sink in’

I only want the job for 6 months or so, I am not really worried about pension etc because of this, would this ‘Ltd’ company thing be ok to do?

I just don’t want to face any ‘problems’ that’s all :smiley:

Not for £11ph, you can get on a proper agency that will pay that as PAYE.
Agencies want you to go Ltd, because it means they don’t have to worry about NI, Pension contributions, payroll etc and recent changes in the regs which gives you the more employment rights similar to regular employees.

@nobodysdriving you can get an accountant for far less tan £35 per month and also go and talk to a few more agencies, and see if they’ll take you on PAYE.

Personally I’d only consider going Ltd if you have the experience and contacts to go directly to the haulage companies and cut out the agency and get their cut, because if you’re limited all you’re getting from the agency is an introduction and telephone answering service.

cliffey:
Guys, is it worth setting up as ltd company working for agency who is going pay £11 hourly , £2 more than I’m on currently for class 2 work , he’s given me loads of information and google is a minefield of info also.
Wanted to ask the guys on here for any help or advice.
Appreciate any advice.

Sent from my iPhone using Tapatalk

I’m out of touch now but i did set myself up as a ltd company about 9 yrs ago for about 16 months and it worked great for me as my accountant was an old school mate who cooked er sorry i mean sorted my figures out for me at a next to nothing price but in the end i prefered to get away from the agency side of things and landed a full time job. It’s probably still worth a go but you need a really good trustworthy accountant.