Contracting V Plates

[Alan @ BroomeAffinity]

If you think £1200 pa is expensive wait and see what the £330 pa accountant will cost you.

[NotAllThere]

So I pretty much ignored everyone's advice and went limited. ...

In the 90s ltd was what everyone did. We didn't even have t'internet to help us.

[pr1]

[Noobs]

Haha. Lots of reassuring feedback then.

Out of curiosity how many of you have actually done this on your own?

I am earning nowhere near the sort of money where this becomes a pitfall imo. I'm on less than £150 per day. So every penny counts - unless you think £330pa is £330 per month.

Also - thanks for the tip about personal and company money. Genuine comment on my part. Just wondered if there were any benefits to routing through company based on the large amount it takes to startup something like this.

[pr1]

you say you're on less than £150 per day - how much do you think an accountant earns?

how much time/help/effort are they going to give you for £330 across a year

[stek]

£240 to reg a company? Rip off - it's £40 and free with a proper accountant.

[Wijay@WISAccountancy]

Haha. Lots of reassuring feedback then.

Out of curiosity how many of you have actually done this on your own?

I am earning nowhere near the sort of money where this becomes a pitfall imo. I'm on less than £150 per day. So every penny counts - unless you think £330pa is £330 per month.

Also - thanks for the tip about personal and company money. Genuine comment on my part. Just wondered if there were any benefits to routing through company based on the large amount it takes to startup something like this.

Hi Noobs,
When you appoint an accountant you need to check whether they offer free company formation (you should have saved £240), fixed fee for all the services (PAYE, VAT, Annual Accounts, Corporation tax return and Self assessment return). Some accountants also offer free IR35 review. I think you need to ring up your accountant again and ask whether he could do all this for you. Approx average market cost is £900+VAT p.a.
Wish you all the very best!
Thanks
Wijay
WIS Accountancy Ltd

[northernladuk]

Haha. Lots of reassuring feedback then.

Out of curiosity how many of you have actually done this on your own?

I am earning nowhere near the sort of money where this becomes a pitfall imo. I'm on less than £150 per day. So every penny counts - unless you think £330pa is £330 per month.

Also - thanks for the tip about personal and company money. Genuine comment on my part. Just wondered if there were any benefits to routing through company based on the large amount it takes to startup something like this.

Still more than enough to incur some hefty fines for getting it wrong.

By the way.... If you are bringing in something around £30k a year then there is little benefit being LTD over brolly. Anything less than that it's better brolly and a large grey area between £30k and about £40k where the brolly is ever so slightly less tax efficient but much much easier to run......