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Keeping company finances private?

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    Keeping company finances private?

    Having to start my own company to take on a new contract and so will be checking out the First Timer guides. Jumping ahead many steps though, I'm concerned about resulting public visibility of my finances. What reasonable steps, if any, can I take to keep my finances private?

    (Note: I am solely concerned with hiding these details from nosy neighbours - not HMRC).




    #2
    I would advise not telling your neighbours that you have a company in the first place.
    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
    - Voltaire/Benjamin Franklin/Anne Frank...

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      #3
      Originally posted by cojak View Post
      I would advise not telling your neighbours that you have a company in the first place.
      Think I might understand the OP's context here.
      "nosy neighbours" is a little more than that! And certainly a lot more than nosey Mrs Jones at Number 63!
      Former IPSE member
      My Website

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        #4
        To add.
        If it is what I think is.
        The people who want the information will find the information they want and more if they want to find out and they usually have access to the means to find it.
        Former IPSE member
        My Website

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          #5
          Originally posted by courtg9000 View Post
          To add.
          If it is what I think is.
          The people who want the information will find the information they want and more if they want to find out and they usually have access to the means to find it.
          I don't read that. Probably because he explicitly says is nosey people, not HMRC. His mates, his ex who he pays maintenance and other contractors around him is what I think he means. I'll quite often check a contractors company out when I'm helping interview or the flag themselves by being an arse or something in the office and I can see how much they have in the bank.

          Whoever he really means then he's out of luck anyway as there is no way of hiding it. He can keep his home address out of the public gaze by using an accountants address but apart from that his information is there for the world to see.
          'CUK forum personality of 2011 - Winner - Yes really!!!!

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            #6
            Originally posted by northernladuk View Post

            I don't read that. Probably because he explicitly says is nosey people, not HMRC. His mates, his ex who he pays maintenance and other contractors around him is what I think he means. I'll quite often check a contractors company out when I'm helping interview or the flag themselves by being an arse or something in the office and I can see how much they have in the bank.

            Whoever he really means then he's out of luck anyway as there is no way of hiding it. He can keep his home address out of the public gaze by using an accountants address but apart from that his information is there for the world to see.
            My considered guess having been in the situation is an ex wife, soon to be ex-wife or their lawyers.
            Former IPSE member
            My Website

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              #7
              Originally posted by northernladuk View Post
              He can keep his home address out of the public gaze by using an accountants address but apart from that his information is there for the world to see.
              Thanks for the answer, I was afraid that was going to be the case. As you guessed, it's nothing particularly sinister or exciting, I just really don't like others being able to snoop into my affairs.

              Is it feasible/advisable to just use company for that one contract and keep everything else through personal account?

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                #8
                Originally posted by elpail View Post
                Is it feasible/advisable to just use company for that one contract and keep everything else through personal account?
                You could go through an umbrella company, then everything will be paid into your personal account.

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                  #9
                  Get an accountant who provides service addresses and use that as the address and the directors correspondence address. At least then your home address is neither viewable online, nor can your address be used as a search to see what happens there.

                  This history cannot be erased later, so get it right from the off.
                  ⭐️ Gold Star Contractor

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                    #10
                    Originally posted by elpail View Post

                    Thanks for the answer, I was afraid that was going to be the case. As you guessed, it's nothing particularly sinister or exciting, I just really don't like others being able to snoop into my affairs.

                    Is it feasible/advisable to just use company for that one contract and keep everything else through personal account?
                    Eh? No idea what you mean by that. Anything done via LTD has to go through LTD bank and get reported on, anything personal doesn't. You can't mix the two. THey are totally separate entities.

                    What do you mean everything else? You doing some other business or something?
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

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