Hi just signed up with ADR Agency, only for at the most one shift a week, they want me to go on the Nova or Limited company scheme, to be honest cant get my head round it, so I need help from the experts on this wonderful forum.
Thanks in advance.
Jimmy
I have done both but had a ltd company for the last 5 years along with a decent accountant, which works out much more beneficial. However if you are only doing one shift per week and the rest of the time you are PAYE, there would be no point in setting up LTD company.
I have done both but had a ltd company for the last 5 years along with a decent accountant, which works out much more beneficial. However if you are only doing one shift per week and the rest of the time you are PAYE, there would be no point in setting up LTD company.
Start with Nova then once you know the ropes become a Ltd co.
They do a lot to help but it’s a cost you can eventually do without.
Limited Company. If you’re only doing one day a week, NOVA will take nearly 1/4 of what you earn that day in their fee. Their fee is the same whether you earn £30 or £3000.
Better off on Maddison from what I’ve heard.
NOVA are a joke these days.
KEn.
for around 1 shift per week, neither option is realistic. running a Ltd Co is only realistic if your a full time driver as the cost of administering the Ltd co for only 1 day per week will be expensive.
I have to ask the OP what are your long term plans within the driving industry?? Are you doing agy work while you find a full time job, doing the odd day for experience while holding another full time job, or does he see himself doing 4,5 or 6 day a week for the next 2yrs+ ■■ if the latter is his intention, then go Ltd co, as that is the better long term option.
Any umbrella cos, as pointed out will take a chunk of cash anyhow. So atm hes stuck between a rock and a hard place in the worse case senario doing 1+ days a week.
being limited, means any responsibility stops at your company, so no one can take your house off you, if there was an rta , or miss-hap.
i got mates being chased by the inland revenue, from there nova days, in london a few years back.
other than that, i don’t know much about nova.