LTD company

I was thinking of going from PAYE to LTD at the supermarket I work for.

Unfortently I know almost nothing about doing it though.
I know I have to hire an accountant who will prob charge at least £50-100 a month
Hopefully he would set up the company for me and do all the other tedious crap.

What expenses can I claim for? I’ve heard they have scrapped the transport as a work expenses.
Can I just work for 1 company as a LTD or do I have to work for other firms if so how many?
Do I need insurance?

I’ll prob try this when the tax year starts so got a bit of time to play with.

transportoperator.co.uk/2016/05/ … d-drivers/

In addition to that you’re going to have a hard time convincing HMRC that a role you did on PAYE is truly a self employed position now you’re doing exactly the same job as Ltd.

“At the supermarket I work for”.

Nuff said?

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Well I live in Essex so I have a lot of supermarket RDC work available to me. So if working at my current employer is an issue I could just move to another.

I know your views on LTD companies Conor and you are right. But I’ve seen payslips from these guys and some are on a lot more then me. I know they don’t get my pension or holiday pay, sick pay etc. But I’m basically looking for 1 year to make a load of money and smash out all my debt I don’t want a career out of it.

Franglais:
“At the supermarket I work for”.

Nuff said?

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What’s wrong with supermarket work?

adam277:
Well I live in Essex so I have a lot of supermarket RDC work available to me. So if working at my current employer is an issue I could just move to another.

I know your views on LTD companies Conor and you are right. But I’ve seen payslips from these guys and some are on a lot more then me. I know they don’t get my pension or holiday pay, sick pay etc. But I’m basically looking for 1 year to make a load of money and smash out all my debt I don’t want a career out of it.

Normally, Ltd pays £2 an hour more than PAYE which doesn’t even cover the loss of holiday pay and pension contributions.

Your personal debt will enevitably only increase by going ltd

adam277:
Well I live in Essex so I have a lot of supermarket RDC work available to me. So if working at my current employer is an issue I could just move to another.

I know your views on LTD companies Conor and you are right. But I’ve seen payslips from these guys and some are on a lot more then me. I know they don’t get my pension or holiday pay, sick pay etc. But I’m basically looking for 1 year to make a load of money and smash out all my debt I don’t want a career out of it.

Franglais:
“At the supermarket I work for”.

Nuff said?

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What’s wrong with supermarket work?

Sorry. Not having a go at supermarket or any other group of drivers.
I jumped to a wrong conclusion. When I saw “Ltd” I thought “self employed”.
If you know you’re really working for a company, then you know you’re not really self employed, is the point I was trying to make.

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It costs about £12 to form a limited company on the official government website. There’s loads of information on there.

gov.uk/limited-company-formation

adam277:
I know your views on LTD companies Conor and you are right. But I’ve seen payslips from these guys and some are on a lot more then me. I know they don’t get my pension or holiday pay, sick pay etc. But I’m basically looking for 1 year to make a load of money and smash out all my debt I don’t want a career out of it.

You’ve seen what their incoming is but have you ever seen what they pay out? I’m guessing not. Most will be using an accountant so there’s the thick end of £1/hr ■■■■■■ away. Also they won’t tell you how many times they’ve had to chase who they’ve worked for for money as there is no legal right to be paid on time. They also won’t tell you that because they didn’t have any terms of business to protect them they’ve been billed for damage.

Oh and if you’re unlucky you may get one of these which one driver posted on this forum. My mate also got one for £3000.

If you want to smash your debt then beans and rice, rice and beans. Cut your outgoings to the absolute bare bone. No new clothes, no new shoes, no holiday, eat as cheaply as you can. No new mobile phone if your contract is coming to an end, get a SIM only deal. Get on Moneysavingexpert.com and make sure you’re paying the least you can for your utilities and insurance.

Conor:

adam277:
I know your views on LTD companies Conor and you are right. But I’ve seen payslips from these guys and some are on a lot more then me. I know they don’t get my pension or holiday pay, sick pay etc. But I’m basically looking for 1 year to make a load of money and smash out all my debt I don’t want a career out of it.

You’ve seen what their incoming is but have you ever seen what they pay out? I’m guessing not. Most will be using an accountant so there’s the thick end of £1/hr ■■■■■■ away. Also they won’t tell you how many times they’ve had to chase who they’ve worked for for money as there is no legal right to be paid on time. They also won’t tell you that because they didn’t have any terms of business to protect them they’ve been billed for damage.

Oh and if you’re unlucky you may get one of these which one driver posted on this forum. My mate also got one for £3000.

If you want to smash your debt then beans and rice, rice and beans. Cut your outgoings to the absolute bare bone. No new clothes, no new shoes, no holiday, eat as cheaply as you can. No new mobile phone if your contract is coming to an end, get a SIM only deal. Get on Moneysavingexpert.com and make sure you’re paying the least you can for your utilities and insurance.[/

?

Stick with a legitimate accountant and there will be NO MSC extra tax/ni bills as MSC legislation would not apply. Now the government are enforcing IR35 for medium and large companies, I think it will be the beginning of the death knell for agencies using Ltd co’s, instead they will only use PAYE in the fullness of time as it will be the agencies that will be heavily fined if they fall fowl of IR35 by using the services of a worker who should be employed via PAYE.

Being LTD and working as labour only effects millions of workers across the UK. Not just a few drivers.

But a hell of a lot of firms use it to there advantage, just as they do zero hour contracts for there paye guys.

Hmrc say you need your own truck to be genuinely ltd, fair enough. But i use to have a lot more freedom and choices then all these, tarmac, agg industries, breedon franchise hauliers do. Who are told when they start, what loads they take, how much they get paid and there t&c’s etc etc.

Go figure that one out conor.

If your on agency go paye its the only legal way, hmrc may or may not catch up with you, and if they do you will pay what they say you owe.

How to save money and pay debts, as said dont spend it.

The key there is the franchise hauliers can put another person in ‘their’ truck and pay them to do the work that they would normally do…for instance when they take a holiday or are sick.

GasGas:
The key there is the franchise hauliers can put another person in ‘their’ truck and pay them to do the work that they would normally do…for instance when they take a holiday or are sick.

I could and did substitute myself when i saw fit.

Concretejim:
How to save money and pay debts, as said dont spend it.

To quote the Charles Dickens character Mr Micawber
Mr Micawber’s famous, and oft-quoted, recipe for happiness:

“Annual income twenty pounds, annual expenditure nineteen pounds, nineteen shillings and six pence, result happiness.
Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.”

Conor:

adam277:
I know your views on LTD companies Conor and you are right. But I’ve seen payslips from these guys and some are on a lot more then me. I know they don’t get my pension or holiday pay, sick pay etc. But I’m basically looking for 1 year to make a load of money and smash out all my debt I don’t want a career out of it.

You’ve seen what their incoming is but have you ever seen what they pay out? I’m guessing not. Most will be using an accountant so there’s the thick end of £1/hr ■■■■■■ away. Also they won’t tell you how many times they’ve had to chase who they’ve worked for for money as there is no legal right to be paid on time. They also won’t tell you that because they didn’t have any terms of business to protect them they’ve been billed for damage.

Oh and if you’re unlucky you may get one of these which one driver posted on this forum. My mate also got one for £3000.

If you want to smash your debt then beans and rice, rice and beans. Cut your outgoings to the absolute bare bone. No new clothes, no new shoes, no holiday, eat as cheaply as you can. No new mobile phone if your contract is coming to an end, get a SIM only deal. Get on Moneysavingexpert.com and make sure you’re paying the least you can for your utilities and insurance.

Here’s some reviews I found on Google about A J Logistics (UK) LTD’s accountant. It looks like the HGV Class 1 Driver didn’t choose his accountant very carefully.

New Wave Accounting Limited
The Point Business Park, Weaver Rd, Lincoln

Cowboys .Anyone with any information regarding finding these lot .will help.Use to be Think accountant then changed to New wave accountant and now Igloo Accounting.
If you can reply on here any help other than alleged info has moved to DWP Accountant will help.

What a shower of s&@t.
I’ve had an accident at work and this has required surgery on my shoulder. I have lived of my savings for the last year, now I have tried to make a benefits claim. Guess what, these scum bags have not paid my VAT, NI, INCOME TAX OR CORPORATION TAX etc, etc,
With my NI not being paid, I am not entitled to any help at all. I have a young family struggling to survive.
Watch your back Lee Wilson.

i,ve been in touch with someone at dmp today and asked them about my company she said there are no records of my company name what so ever.
what a bunch of ***kers. had letters from hmrc and from companies house.
if anyone knows anything more about this or what to do next post on here

Absolute con artists! Had an agreement that they retained their fees at source, they also retained my corporation tax and VAT money, I’ve had numerous bills from HMRC, apparently they haven’t paid a penny of my money retained to them! I now face personal bankcruptcy! These are con artists avoid at all costs! Seeing the comments on here make me sick, everyone is taking civil action to get their money back, surely the courts should turn it into criminal action as this is a hge fraud the man is taking thousands off people fraudulantly. They were Think Accounting, then New Wave Accounting and now Igloo Accounting, same director, same trade address, same staff! DISGUSTING!!! Please can everyone who reads this write to HMRC and Companies House quoting all three of the company registration numbers and advise them of what is happening and print everyone’s comments on here and enclose it, let’s turn this into a full on fraud criminal case and get the director behind bars and get everyone as much money back as they can get (if it hasn’t already all been spent). Worse experience of my 17 year working life by far! I can’t believe I face bankruptcy! They have ruined my life and left it in tatters!!!

These bunch of charletons, have been treating people like chumps for however long, recieved a 4 figure Tax Bill due to thier “Professional Negligence” just before christmas, Despite calling them straight away, they have continually refused to discuss the matter. HMRC have been brilliant, helping where they can, Ladies and Gents this is NOT HMRC fault.
Think Accounting/New wave/Igloo are all the SAME Company and people, now they have closed down and moved everyone to a company in Potters Bar (DMP) this apparently is owned by the MDs sister, so NO Change.

The agency i work through has also, stated they are intending to no longer use.

Looking at options to recoup the money, that is in my view the accountants sole responsibility.

P… off choose your accountant carefully.

Overpaid my tax for the year, but they kept the HMRC refund? Refuse to talk to me. Won’t return calls. Utter scum

Avoid!!!

Will be taking legal action.

Paid £766.08 for 32 weeks service and then tried billing me another £700 for the work I’d already paid for. Absolute CON merchants. AVOID!!!

in the process of taking legal action and advice on how to get my money back that is being held not very happy avoid at all costs been ripped of big style gutted

PLEASE… DO NOT USE THESE MUPPETS!!

Absolute rip off merchants £11000 bill off hmrc because of their quality accounting

Need info on igloo location or new company they’ve set up. Cheers

Only used these for a few months, just had a VAT bill and haven’t a clue why so been trying to call them everyday for a week but permanently engage. I have their address if anyone wants to join me in paying them a visit

Never to be trusted,they lie straight at you and then say they’ll ring you back but never do. Avoid at all cost.

google.com/search?q=new+wav … 446be7,1,,

carlston49, just take a look at Inside Out, Look North BBC 1, 19/11/18 or on i player. You will find out what the pair of vermin have been upto. They certainly aren’t out of the woods yet.

I tried 99p company formations, just check it on Google, couldn’t believe in that they can register my LTD for just 99p, and they will do everything for you. I spoke with one guy who called me from this company, for over an hour and said step by step what I have to do. Also, they giving you options to choose bank for your company and many other things. Like said, couldn’t believe and just paid £0.99, and said to myself, I’ll not cry and that not a waste of money. But there’s a long and hard way to start on 100%. Good luck :slight_smile:

GajnyH1:
I tried 99p company formations, just check it on Google, couldn’t believe in that they can register my LTD for just 99p, and they will do everything for you. I spoke with one guy who called me from this company, for over an hour and said step by step what I have to do. Also, they giving you options to choose bank for your company and many other things. Like said, couldn’t believe and just paid £0.99, and said to myself, I’ll not cry and that not a waste of money. But there’s a long and hard way to start on 100%. Good luck :slight_smile:

Sounds like a scam.

GajnyH1:
I tried 99p company formations, just check it on Google, couldn’t believe in that they can register my LTD for just 99p, and they will do everything for you. I spoke with one guy who called me from this company, for over an hour and said step by step what I have to do. Also, they giving you options to choose bank for your company and many other things. Like said, couldn’t believe and just paid £0.99, and said to myself, I’ll not cry and that not a waste of money. But there’s a long and hard way to start on 100%. Good luck :slight_smile:

“They will do everything for you” and according to their website all of their customers will have their registered office address the same as the 99p company formations registered office address.

Brown envelopes on their way from HMRC Counter Avoidance!