Clearsky Opinions

[konradz]

Thank you for all the info guys.
Do you mind helping me understand what the benefits are sole trader vs LTD. Currently its all me, but it will be me and my Mrs eventually. The one thing that worries me about LTD is the way you pay yourself, seems way more complex.... but maybe its more profitable?

Best,
k

[Alan @ BroomeAffinity]

Thank you for all the info guys.
Do you mind helping me understand what the benefits are sole trader vs LTD. Currently its all me, but it will be me and my Mrs eventually. The one thing that worries me about LTD is the way you pay yourself, seems way more complex.... but maybe its more profitable?

Best,
k

Don’t take offence by this but your lack of this fundamental knowledge highlights precisely why you need an accountant who is on hand to provide advice rather than process the numbers.

[Darren at Fox-Bartfield]

Accountants

Thank you for all the info guys.
Do you mind helping me understand what the benefits are sole trader vs LTD. Currently its all me, but it will be me and my Mrs eventually. The one thing that worries me about LTD is the way you pay yourself, seems way more complex.... but maybe its more profitable?

Best,
k

Would recommend a chat with an accountant to explain the pros/cons of both options and how they may fit to your circumstances as well as the mechanics of running either structure.

[zonkkk]

Crunch will do everything but for cheaper, however it doesn't use freeagent. I chose Crunch over a freeagent accountant and I've been pretty happy.

I am also using Crunch. Very happy with the online system. Everything is clear, including how much money you can take out.
You also get VAT, PAYE, and other reminders in a timely manner.

[adubya]

a +1 for a Freeagent compatible accountant, it's just so easy.

[aft]

I would not recommend crunch.

Their level of service is appalling. If you are happy to deal with late returns and all the headaches that brings, then sure.

I would suggest, as others here, an accountant that uses the freeagent portal. (Like Darren @ Dynamo )

Bit more expensive than crunch but easily worth it cos you wont have to waste time sorting out the mess crunch make.

[Andrew@Wisteria]

Thank you for all the info guys.
Do you mind helping me understand what the benefits are sole trader vs LTD. Currently its all me, but it will be me and my Mrs eventually. The one thing that worries me about LTD is the way you pay yourself, seems way more complex.... but maybe its more profitable?

Best,
k

It’s for questions of exactly this nature that you appear to require a more personalised service than one of the very large contractor accountants providing a standard service across all clients. Net pay will typically be higher in a Ltd provided income is above a certain level and certain conditions are met.

You should speak to an accountant - plenty of us on this forum. :-).