What are the pros and cons of going ltd (umbrella) Company in your experince of working as a locum?
Printable View
What are the pros and cons of going ltd (umbrella) Company in your experince of working as a locum?
Dear Medical Jay,
My experience is as the owner of the clinic. I like the folks who have their own ltd. They seem to know what they are doing and aren't just totally lost when it comes to the tax issues. If you don't want the learning curve, dont go with ltd. You do need to have the book keeping to back it up, and some therapists I've hired are hopeless with that!! I won't try to comment more than that, as british ltd laws are no doubt different from Canada.
Crystal
I'm a locum and use a LTD company- they take a 5% charge but work out all your taxes and expenses- you get paid weekly and its less hassel. You also get paid a bit more aswel, I think it's about £3 more ph....which works out quite a bit over the weeks. Although I've not used umbrella so can't comment on that.