Im thinking of starting a ltd company. Is it even worth it? Just a bit of advice on what is involved. I know its easy to set up but what will I be paying out over a year? some people pay an accountant a one off fee to sort out the paper work (i know you can do this yourself). How much should be kept asside for the tax man each week/month. Is it a case of paying one bill in april or do you pay different ammounts over the year.
Any advice would be appreciated.
sportmartyn:
Im thinking of starting a ltd company.
Why?
as above Why ’
You need to really have a good look on the HMCR web site, download everything you can about it and read it.
Some lads I know had an accountant for a few years then did a year or 2 with out but went back to having an accountant, It really depends on how much work you do and what your expectations are
Don,t bother with ltd mate, i done it about 2 yrs ago and i,m still getting crap through my letterbox got to phone Hmrc Monday to get it sorted out i hope, I,ts crazy how they work, as i informed them the company was closed and it was a con, they said no problem your account says nil owed, yet 2 yrs on i got home this weekend to 12 letter,s from Hmrc utter madness.
peirre:
sportmartyn:
Im thinking of starting a ltd company.Why?
It might help if the OP could elaborate on what they are considering doing within the industry so more targeted advice can be given.
If the OP is considing SE as a means of working for the agencies or direct to a haulier the he needs to seek better advice from a more professional entity or person.