Setting up as Ltd company

#1
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
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
 
#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
msr said:
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
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
very-old-git said:
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.
This was mentioned however getting fuel card and van so not really applicable
 

engr172

Old-Salt
Book Reviewer
#8
Brettarider, check you PMs
 

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