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I am hearing numbers from some contract umbrella companies that I ma not sure about. If they're true then great, if they're in the Gary Barlow realms of creative accountancy then they really can GTFO.
The highest take home I have heard is 90%, based on a scheme where they lend the money and then right off the loans or something like that. Most are quoting in the realms of 60% take home.
Does anyone have any experience of this or any recommendations. Right now I don't want to set up a limited company as this may well only be for 6-8 months. I know if it goes on I'll have to set up a company but not just yet.
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Set up a company.
Find an accountant (a reputable one who doesn't dally in politics or Dr. Who by preference ) who has experience setting up companies for contractors and slip him some cash to set up an appropriate company structure. Honestly, it's worth it and the sooner you do it the easier it is.
even if the work only lasts 6 months, you can keep the company and write off all sorts of crap.
PooperPig - Coming Soon
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Oh, also, when we set up a company for this purpose in the UK we found the tax office extraordinary helpful both before and after the fact (they also helped us recover money 'retained' by our accountant)
PooperPig - Coming Soon
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I wouldn't discourage anyone from setting up a company, there are benefits, but most of the benefits can be gained by simply getting a "business number" (VAT registration.) Any tax write-offs available for a company are also available for a registered sole proprietorship here in Canada, but also when I was in business in the UK (and I doubt things have changed).
Assuming that the "simplified method" of VAT reporting is available, you still get to skim off some of the VAT you collect.
The biggest benefits of a limited company in my view are the potential for sheltering income from income tax (till later, you still have to pay when you draw it!), although beware of corporation tax (on profits) and paying tax twice; and separation of legal identity (limited liability). This separation of legal identity might protect you from being sued by a client personally (as opposed to the company), although if you are still personally liable I wouldn't count on it. As a consultant, you are unlikely to build up financial liabilities (stock, leases, etc.), so this separation is of less value than for, say, a retailer.
Taking a good accountant's advice has to be a worthwhile investment, although I'd challenge them to explain the benefits of incorporation versus sole proprietorship in detail.
Good luck!
Life is like a s**t sandwich; the more bread you have, the less s**t you eat.
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Well, there are two different things - umbrella companies and limited companies. (Assuming you're talking about the UK here.)
Using an umbrella company means that you are employed by the umbrella company, and they are employed by your client to provide your services. You get all timesheets and expenses signed off by the client, and send them to the umbrella company administrators who then invoice the client. Once they get the money, they deduct the Employer's National Insurance, their fee (usually £50-£150 per month), the Employee's National Insurance, and Income Tax, and pay you the remainder. In the eyes of HMRC, you are just another employee of the umbrella company, though the difference to you is that you don't get any sick or holiday pay. The takehome is usually in the 60% region.
Some umbrella companies also supply accountancy and administration for limited companies. In this case, they help you set up a limited company, run and owned by yourself, which employs you. The benefit of this is that you can pay yourself a small salary, and take out the company profits as dividends, which avoids the National Insurance payments, and are taxed at a lower rate. Takehome after accountant's fees and the small amount of tax is often in the 90% region. No Gary Barlow?Jimmy Carr shenanigans - this is perfectly legal and in wide use.
In both cases, what you can put down as business expenses are pretty much the same.
However, because the limited company route offers an easy way of legally avoiding tax, the government put in restrictions over a decade ago (google RIPA legislation), which effectively says that if you are interchangeable with an employee of the client, you can not claim to be a contractor in the RIPA sense, so will have to pay income tax and national insurance.
As a rule of thumb, the first contract you go for with a limited company had better be a clear case of you being a contractor, not a disguised employee, as HMRC tend to look closely at these to make sure they qualify.
When I do contracts, I usually work with NASA Umbrella Ltd, who've always provided a good service, and were honest in saying when my situation was unsuitable for a limited company, and when it was.
Oh, and IANAL. Seek the advice of an accountant.
HTH, HAND.
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The cruelty and the reasons behind cruelty of man is what I am amazed by constantly.
On the other hand I am also amazed by people buying expensive poo and this is not the first instance of that.
EDIT: If this is even real news 
But I still mean what I wrote.
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When I first opened the link I was thinking the alternative was that the people were ?processing? the beans instead of the civets. Whew glad I was wrong.
New version: WinHeist Version 2.1.0 Beta
Have you ever just looked at someone and knew the wheel was turning but the hamster was dead?
Trying to understand the behavior of some people is like trying to smell the color 9.
I'm not crazy, my reality is just different than yours!
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You gotta wonder what was going through the mind of the guy that was following the civet cat, saw that it pooped out coffee beans, and said to himself, "Hey, I bet that tastes great!"
I wonder if Ebola got it's start this way...
Of course, if you believe Louis Farrakhan, Ebola was invented by whites to kill blacks.
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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When you pry the gun from my cold dead hands, be careful - the barrel will be very hot. - JSOP, 2013
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So why did Microsoft name it Windows 10?
Cause 7 8 9.
WinX 
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Cause it's a makeover not an incremental build!
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Hopefully it's a makeup for Windows 8. Makeup the redo and not the cosmetic.
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I wonder how many times this one's going to be dragged out?
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The worse the previous version, the more it gets dragged out. How bad was 8?
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10 times - 'cause seven eight nine
PooperPig - Coming Soon
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You talking about the bad joke (789) or the software? 
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Pete O'Hanlon wrote: I wonder how many times this one's going to be dragged out?
I say a few more weeks, then things should die down a bit.
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7, 8 , 10 times?
Alberto Brandolini: The amount of energy necessary to refute bullshit is an order of magnitude bigger than to produce it.
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No retelling the joke in base nine. Stick to 10.
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Because they can 
if(this.signature != "")
{
MessageBox.Show("This is my signature: " + Environment.NewLine + signature);
}
else
{
MessageBox.Show("404-Signature not found");
}
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My feeling is Windows 13 will be Windows 3.1. Tiles on top of each other.
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If they set it to report as "Windose 9", it would certainly get around those pesky checks
if(version.StartsWith("Windows 9"))
{ /* 95 and 98 */
} else {
modified 20-Oct-19 21:02pm.
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Why was 6 afraid of 7?
Because 7 was a registered 6 offender!
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