Hi all my agency gave me the info on nova contracting does anyone here use them are am i better setting up self employed myself…are there better wages/savings on tax to be had with nova
You can set up your own Ltd company and you’ll be better off than under Nova.
Was thinking id be better off setting up my own ltd company but not really sure how to go about it,i know i have to apply to comps house with my business name then open a business account,then find a good accountant,can anyone put me in the right direction someone was telling me about swift formations with regards to company name registration.
This isn’t a recommendation for anyone in particular just offering it as a guide for you…
I ain’t 100% sure about this but isnt it the case that if you are self employed then you try to claim benifits becomes a right nightmare can be waiting months to be eliglble for them.
The way things are just now working with the likes of an agency i don’t know if i’d want to be self employed with January just round the corner.
Kenny1975:
I ain’t 100% sure about this but isnt it the case that if you are self employed then you try to claim benifits becomes a right nightmare can be waiting months to be eliglble for them.
I saw a situation on the TV prog Dragons Den where a lady was getting benefits whilst running a business (self employed) and she could do so because she proved that the business was not making any profit so therefore she had no income from it.
Kenny1975:
I ain’t 100% sure about this but isnt it the case that if you are self employed then you try to claim benifits becomes a right nightmare can be waiting months to be eliglble for them.
Thats what class 2/3 NI payments are for.
though for what financial benefits you`d get, it may not be worth claiming
Kenny1975:
The way things are just now working with the likes of an agency i don’t know if i’d want to be self employed with January just round the corner.
There are times I`ve considered going the Ltd route, but as you state with the economic climate as it is, the future is uncertain atm
I guess I`ve been lucky and have been getting 3/4/5/6 days the past 6 months to build up the bank to see me through the January 20th - easter period
Kenny1975:
I ain’t 100% sure about this but isnt it the case that if you are self employed then you try to claim benifits becomes a right nightmare can be waiting months to be eliglble for them.
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It isn’t the case. A claim is just the same as for anyone else. The only thing you have to have done is to cease trading first. If you’re claiming benefits based on a low income, you’ll periodically be required to produce your books. As you should be doing them constantly anyway, that should be no problem. The only time its a problem is for people like my parents who leave doing any accounts whatsoever to the week before the annual tax bill is due. I, on the other hand, have mine up to date on a weekly basis so at any time just have to press print on the computer.
peirre:
I guess I`ve been lucky and have been getting 3/4/5/6 days the past 6 months to build up the bank to see me through the January 20th - easter period
You sound like me. I used to pay myself £150 a week, regardless of the fact I was earning four times that. Meant that I could survive from November to March with no income whatsoever and still pay myself £150 a week.