Another sole trader query

[martyoo]

Hi. Im currently using a "umberalla" company to look after my wages but I'm now in the process of setting up as a sole trader and registering for a vat number. My question is, when do I need to inform the "umberella" company that im changing to a sole trader?

Thanks in advance

 

[Wise Willie]

Hi Martoo,

As far as i know you don't need to be in a rush to inform the company that you are setting up as a sole trader (I am currently involved in both and my accountant friend never mentioned it was going to be a problem). However more research may be required - good site are: www.cro.ie or [broken link removed] or [broken link removed].

Good luck

 

[extopia]

What's an umbrella company anyway? Do they invoice your clients on your behalf? Do you then invoice them for your wages?

If so I don't see why you have to do anything except stop invoicing them for as you will be doing this through your new operation.

 

[martyoo]

Hi thanks for the advice. The company is CxC, I think they are mainly used for contract work, they set up a company for your behalf. Then I fill out my time sheets and send it to the recruitment agency who then pays CxC.
I'm not very happy with them at the moment so thats why i'm switching.
Thanks again