Chesterfield Group

[Stimpy]

Sorry if I came across a little plunt (watching an production system upgrade running through over night, makes one a little snappy), However if I were giving advise I would have phrased it a little better, i.e. "in my opinion.....", rather than accusing someone of being thick.
I am a newbie and am trying to find out exactly what I am getting into and am thus researching, as to what the best option for me is.
I'm used to doing time sheets and keeping records of reciepts, etc, etc.
I have been speaking to other contractors I know (who probably are sailing a little close to the wind) on how much effort they spend getting funds out of their Ltd companies (although probably to avoid some tax).
Hence I was looking at some opinions that would suit my situation best

[malvolio]

In which case, you've had the answer to that - use Parasol's umbrella services.

When you've learned a bit more about the mechanics, you can make a more informed choice - but be very clear that the most tax-efficient way is your own company and the right salary/dividend mix. Anything else, with Gordie around, is courting disaster.

[aussieItman]

yes mate I used to go with Chesterfield, the Isle of Man company. They were really good for what I need at the time, efficent and professional. so no probs. I've also contracted with Hudson and they were great.

[OrangeHopper]

I'm bored again so someone explain to me why having an accountant like SJD help with a Ltd company is more time consuming than going with an umbrella?

[malvolio]

It isn't and it's cheaper. You have to tell the accountant slightly more about your income (all of three seconds), you have to raise your own invoices and, well, that's about it, really. Unless you count time spent making your own decisions about salary, dividend and where to put the extra savings. Bit of a no-brainer really.

[Stimpy]

Hi all,
well that contract fell through, project timelines have changed (they have however indicated that in 6 months they will need me )
I've now pretty much decided to go down the ltd route. (other contract potentially on its way)
A question I have asked here before, but thought I'd ask again.

My wife has an Ltd company for her business (making and selling stuff)
I will obviously have my own.

Now her company will obviously has startup costs (materials, machinary, etc).
Any comments on the best way to move funds between companies.
I.e. straight investment from one company to the other, or
a holding company of which we are both shareholders.
All profit is moved from our respective ltds to the holding company
from which we pay ourselves dividens (and a small salary).

We could obviously club together into one company, but that would leave single company at risk, should something major happen. i.e. my wifes goods hurt somebody??

[malvolio]

Ask an accountant. Seriously - you could get accused of various dodgy practices if an IT consultancy company started shovelling money into a retail one or vice versa. I'm sure there's a way to do it legally, but take qualified advice first.