Setting up as Ltd company

Discussion in 'Jobs (Discussion)' started by brettarider, Nov 20, 2007.

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  1. brettarider

    brettarider On ROPs

    Job I'm about to start means for a while anyway I'll be techincally self employed by the agency tthey will have one of their partners to give me a call this week to sort it out so can anyone give me some good info on rates/what to watch out for etc?
     
  2. msr

    msr LE

    It depends on how long you will be self-employed. If it is for a short period, you may find an umbrella company easier.

    The best advice is to go and speak to your local accountant. To actually set up a Ltd company takes a few days and costs about £300

    msr
     
  3. brettarider

    brettarider On ROPs

    It's being run via an umbrella company, what sort of things can I expect in the way of charges/support and services from them?
     
  4. If you offer your services to an employer as a limited company on the basis that the employer is your only employer, then you will be deemed as either employed or self employed by the tax man - not a Ltd company. It was in the distant past a way of 'off-setting' travel costs, meals, NI, telephone etc but was over used and appropriate closures of loopholes appeared.
     
  5. 300 quid sounds a bit steep. however my wife is an accountant and she is whinging constantly about the government at the tax stuff..

    Like MSR said an Umbrella company short term would be easier, unless you're in it for the long haul.

    for me been Ltd has been OK, the wife does all the dirty stuff when she puts her mind to it and does save on the tax with tricky number stuff

    make sure all invoices if ltd have VAT included and you can claim upto 10% give or take % your expenses against this.

    however watch out for corp tax this is also getting to be a bit steep these days

    drop me a pm if you need anthing
     
  6. brettarider

    brettarider On ROPs

    This was mentioned however getting fuel card and van so not really applicable
     
  7. I can't answer the question personally, but try posting the question on www.allcallsigns.org. There are plenty of ex-mil business types on there!
     
  8. engr172

    engr172 Old-Salt Book Reviewer

    Brettarider, check you PMs