Hi, hope someone can help answer what is probably a basic question!
I've been contracting in IT for about a year using an umbrella company which means I've been paying roughly £55 each week in fees and employers NI. A colleague advised me to start my own Ltd company and said all he does is pay an account £600 once a year to do his annual return, and other than that has no fees.
I may be starting a new 6 month contract in a week or 2 but my question is, if I were to form the company now, will I need to pay someone the above mention £600 in April this year, even if I've only been trading for 4 or 5 weeks?
Many thanks.
I've been contracting in IT for about a year using an umbrella company which means I've been paying roughly £55 each week in fees and employers NI. A colleague advised me to start my own Ltd company and said all he does is pay an account £600 once a year to do his annual return, and other than that has no fees.
I may be starting a new 6 month contract in a week or 2 but my question is, if I were to form the company now, will I need to pay someone the above mention £600 in April this year, even if I've only been trading for 4 or 5 weeks?
Many thanks.
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