I am considering using the CHORUS service instead of setting up my own ltd.
I know this is a complicated issue, but are there any negatives (financially etc) to having an accountancy firm manage the ltd co, aside from their fees?
Also, they state that (the company they create) will be VAT registered and is therefore obliged to add VAT to all its invoices. As I will fall below the 50K (or whatever) limit which enforces VAT registration, will this add any benefit over simply not being VAT registered and setting up my own ltd co?
P.S. Contract rate would be approx £168 per day (exc VAT - again don't know if this is relevant) and have been told its IR35-friendly.
Regards
Smart One
I know this is a complicated issue, but are there any negatives (financially etc) to having an accountancy firm manage the ltd co, aside from their fees?
Also, they state that (the company they create) will be VAT registered and is therefore obliged to add VAT to all its invoices. As I will fall below the 50K (or whatever) limit which enforces VAT registration, will this add any benefit over simply not being VAT registered and setting up my own ltd co?
P.S. Contract rate would be approx £168 per day (exc VAT - again don't know if this is relevant) and have been told its IR35-friendly.
Regards
Smart One
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