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Contracting: Difference between revisions
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<p>''Umbrella Company''</p> | <p>''Umbrella Company''</p> | ||
<p> | <p> | ||
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</ul> | </ul> | ||
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your employers offices, you're personally liable for the cost.</li> | your employers offices, you're personally liable for the cost.</li> | ||
<li>Most recruitement companies will not deal with a Sole trader.</li> | <li>Most recruitement companies will not deal with a Sole trader.</li> | ||
<li>Does not look professional.</li> | <li>Does not look professional.</li> | ||
</ul> | </ul> | ||
</p> | </p> | ||
<p>''Limited Company''</p> | <p>''Limited Company''</p> | ||
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'''The Pros:''' | '''The Pros:''' | ||
<ul> | <ul> | ||
<li> | <li>Limited Liability - You are not personally responsible for business debts. (Unless you act illegally)</li> | ||
<li>Ability to expense capital purchases such as computer equipment for business use.</li> | |||
<li> | <li>As a director of a company you can transfer a large percentage of your income into a pension, tax free.</li> | ||
<li> | |||
</ul> | </ul> | ||
'''The Cons:''' | '''The Cons:''' | ||
<ul> | <ul> | ||
<li>Necessary to form a limited company. This can be done by a company formation service (Costs around €350), or | |||
by yourself. Check [www.cro.ie]</li> | |||
</ul> | </ul> | ||
</p> | </p> | ||