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Limited VS Umbrella: Which Option is Best?

Limited VS Umbrella Assessment Tool 

One important choice that each new contractor has to make is how they are going to operate and organise their finances. For many, that means choosing between umbrella company employment and trading through their own limited company.

The question of Limited vs Umbrella can be a complex one, as each has its merits and the best option for you depends very much on your circumstances. Choosing the right option for you, and the right professionals to support you, can have a profound effect on your experience and success as a contractor.

The limited company option is the most tax efficient and is generally better for contractors who are earning more and are outside IR35. You should also be comfortable doing a small amount of administration, but don’t worry; Orange Genie Accountancy will be there to support and advise you as you set up and run your new limited company.

Umbrella company employment is suitable for contractors who want a simple PAYE solution. You’ll still have the freedom and flexibility that drew you to contracting, but you’ll also have the security and benefits of employment. Umbrella company employment will usually be the best option if you’re inside IR35.

Whichever option you choose, Orange Genie have industry-leading experts to help and support you, as well as a whole host of benefits to help you make your money go further, look after yourself and your family and get more out of contracting.

Use our Limited Vs Umbrella assessment tool to find out which option is likely to be best for you, or call us for in-depth advice based on your specific, individual circumstances.

If you have any questions, or if we can help in any way, please call our expert team on 01296 468 483 or email info@orangegenie.com.

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