New Consultancy Start up

[Wittmann]

Hello,

I hope I have the right forum - a friend recommended AAM as a good online resource!

I am working as a consultant engineer for a company but as I am moving home to Ireland I had tender my resignation. The company have now approached me to stay on as a remote consultant with limited travel. Looks good to me, the only issue as I'll be living in Republic rather than NI; they can't keep me on as PAYE. The solution is for me to set up as an independent consultant who they would then contract with annually.

The only (and biggest) issue is......I don't know where to start. I am incredibly conscious of ever falling foul of the tax man so I'd envisage a cost for an accountant to manage that. Cost of which I've no idea of.

Other issues - company registration / liability / directors / wages / pension / Insurance etc. etc. are all unknowns to me. Are there 'one stop shop' business solutions that any one knows of?

My other question would be declared services - is it possible to offer consultancy services and other services under the one umbrella?

TIA

 

[Brendan Burgess]

Any half-decent accountant should be able to look after you.

 

[RedOnion]

If you want a simple 'one stop shop', the likes of Contracting Plus wouldn't be a bad start, or at least a benchmark to measure other options against. They'll charge a fixed rate, and look after everything; invoicing, payroll, vat returns, etc.

If it's something you think will last longer term, and want flexibility over timing of drawing money out of company, etc., then set up your own limited company. There's nothing to prevent you starting with the first option and setting up a company yourself later once you fund your feet.

 

[T McGibney]

Bear in mind that if you're setting up your own consultancy with all that entails in terms of work and cost, you'll need the contracting company pay you a significant premium over the rates they were paying you in employment.

 

[lonelyplanet]

Having done this I would suggest same as RedOnion, use Fenero or Contracting plus whereby they would initially set you up under Umbrella company. If your contract gets extended and you are happy to proceed then you could set up your Ltd company once you are comfortable with your obligations. Also my understanding is that Fenero and Contracting plus also offer support for Ltd companies. ...reach out to them and get the ball rolling

 

[time to plan]

I highly recommend Icon Accounting from personal experience. In fact I can't recommend them highly enough. Probably best structure for you would be a Directors Umbrella https://www.iconaccounting.ie/services/director-company-umbrella: utm_source=google&utm_medium=search&utm_campaign=director+umbrella+company+ad+group&gclid=Cj0KCQjwj5mpBhDJARIsAOVjBdp7yhRc-MOuDRRBBUIoruVmj6wfQp7Tt1jTJmJ4DNuHxIbhg0rH3I4aAv6vEALw_wcB

 

[time to plan]

Any half-decent accountant should be able to look after you.

True but a specialist Contractor accountant will have the expertise and economies of scale to look after the OP best.