Question on Limited Company formation - which option to take?

**mudskipper** · 23 May 2015, 16:38

Originally posted by SRFBS View Post

Hi all forgive the question, which i'm sure is obvious but I'm having a hard time getting a definite answer.

I have a job which means tutoring for a company whom I invoice for pay. Its new to me and it means I have to set up company status as I am self employed. My question is this:

- I have a debt management plan (from a past life) which is nothing to do with my wife but an ex partner. It has been suggested she could own the company and have me as an employee. Does this seem right and if thats the case, how would it work?

thanks in advance - by the way the DMP is being paid off, I just don't want previous problems to affect current situation

If you / your wife set up a LtdCo you're going to need an accountant - so why not speak to a couple and see what they advise? InTouch, SJD, NW and others post on these boards, and there is a sticky with accountant recommendations.

**TykeMerc** · 23 May 2015, 16:52

As Mudskipper said it's not a straight forwards situation, you would benefit from proper professional advice from an Accountant. It's one of those things that if you get it wrong it could be very unpleasant.
Well worth the few quid it will cost to get good advice.

**Scruff** · 24 May 2015, 00:24

What's wrong with being a sole trader? Much easier to deadly with if you don't require an Ltd and limited liability. No IR35 issues either?

Question on Limited Company formation - which option to take?