Going Limited - My head hurts!

[northernladuk]

What's all this "He"

Erm, any one of the following I think...

1) Am from Yorkshire. We always drop letters, like 'alifax etc etc
2) Typo/Keyboard malfunction
3) I am a small minded Yorkshire male chauvanist who might have gotten out of Yorkshire but still thinks in the dark ages....

Sorry

I honestly don't know why I keep doing that. My own accountant who I have had for 4 years is a she! Unforgiveable....

[StarApple]

Thanks guys for your replies.

Yeah I am ready, its just a learning process and I have heard and read so much today that there is some serious overload. Hence me being here and asking questions. Don't want the wool to be pulled over my head and be ripped off, or getting it very wrong.

I don't want to be bogged down with stuff that I would have to do every week. I used to have an accountant when i was a sole trader 10 years ago but he wont take on any new clients and he does not use email or the internet anyway, totally old school. So wont meet my needs anyway. I do want the accountant to deal with my tax affairs. I prefer to earn the money or be with my family and friends, than to battle through tax stuff.

What you guys think of ClearSky Accountants? I was looking at the Assure Package. Pricey but hey I used to pay around £120 per month for the Umbrella service with my old umbrella.

[StarApple]

Hmmmm InTouch is starting to look very good as well. I like the fact one can do everything online with them too. And they are cheaper offering a similar service.

[kingcook]

Do you think the time is too short to set up the company by end of the month?

It took my company around 3 days to set-up. No time at all.

And as NLUK said... get an accountant to sort all this out for you. They all charge around £100 per month which is worth it for the amount of stress you'll be saving yourself.

[Lexie76]

Newbie

[QUOTE=StarApple;1681434]I need some help but don't even know what questions to ask. I have been on this site for hours, on the taxman website, companies house, umbrella sites that offer ltd co options.

Hi there!
I know you posted this a while ago I was just wondering how you got on? I've got my first role starting in Feb.

I tried to open the other threads but I couldn't find them. I read about SJD, did you end up using them? It's all a little confusing. Any tip or pointers would be much appreciated!

[northernladuk]

Hi there!
I know you posted this a while ago I was just wondering how you got on? I've got my first role starting in Feb.

I tried to open the other threads but I couldn't find them. I read about SJD, did you end up using them? It's all a little confusing. Any tip or pointers would be much appreciated!

Well this wasn't awhile ago it was created today. There are a page full of tips already and you can use the search in the link I posted to search.

[Clare@InTouch]

It took my company around 3 days to set-up. No time at all.

And as NLUK said... get an accountant to sort all this out for you. They all charge around £100 per month which is worth it for the amount of stress you'll be saving yourself.

Just to follow up on the time scales - a company can usually be set up in a day, often just a few hours. This is the only bit you need in order to start, the rest can follow on later.

A bank account can take around a week, although lots of accountants can provide a pre-allocated account number straight away.

VAT registration will take around 2 weeks if done online, but it can be backdated. Your accountant should do this as part of the incorporation, along with PAYE registration and CT registration. Go careful, some accountants charge extra for that.

My advice is to talk to a few, and see who you get a good vibe from. It's not always a case of expensive = better, make sure you compare what you actually get for your money. And that you like who you're dealing with, and feel able to ask as many questions as you need to.

[bestnetpayfriend]

No need to have a headache at all - you would be best with an accountant

Hi Clare

You cannot be master of all things, and if you are a busy contractor the last thing you need is to be bogged down by trying to keep up with current legislation and what forms to use. You require an accountant for contractors and not an umbrella company. You will be in greater control of your finances and will also receive the best advice. Whoever you choose they will be audited themselves and have to jump through several thousand loops, exams and many years of experience to be in a position to offer you the best possible advice. Accountants are not cheap but neither are you on the daily rate that you say you are bringing in so why look for the cheapest out there, just get the best you can afford and have total peace of mind knowing that you are being looked after.

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