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Umbrella vs Limited Company (London)

Hi All,

New poster here. I've moved to the UK from Australia on a 2 year visa and have been told by recruitment agencies that I should set up a limited company (using a recommended specialist) to get paid through the company as I can probably on receive contractor work. In theory this is a better way to get paid than PAYE or via Umbrella.

Has anyone had any experience in dealing with these companies? Would you recommend them and what are they like?

Do I need to set up a limited company? Is it better to be paid through the limited company than PAYE and Umbrella way?
Wondering if the risks outweigh the rewards and if anyone had issues with them in the past? I'm unsure on the legal correctness on some of the things that I've been told.

Or is it easy to set up the limited company yourself to save all the fees and risks?

Thanks!

London Forum