Originally posted by eek
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The material prosperity of a nation is not an abiding possession; the deeds of its people are.
George Frederic Watts
http://en.wikipedia.org/wiki/Postman's_Park -
Originally posted by northernladuk View PostIt seriously isn't. Charging VAT also depends on whether your LTD is VAT registered as well..
Just a note, they don't pay it to you either. They pay it to your LTD (or brolly)
Go umbrella please....
Why should i go umbrella? I've heard it sucks from the taxation point of view.Comment
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Originally posted by gabox01 View PostBut let's say on a 400 daily rate, i have to register for VAT right?
Why should i go umbrella? I've heard it sucks from the taxation point of view.
1. Don't worry too much about northernladuk. as he's having a little dig at you cos you don't appear to be very well informed, so an umbrella is a safer option - but it does suck from a taxation point of view.
2. Read some beginners guides from this site, Nixon Williams, SJD Accountancy, and get back with specific questions.
A Ltd company is a serious undertaking and you need to acquire some knowledge fast.The material prosperity of a nation is not an abiding possession; the deeds of its people are.
George Frederic Watts
http://en.wikipedia.org/wiki/Postman's_ParkComment
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Originally posted by speling bee View PostAt this point I would suggest you:
1. Don't worry too much about northernladuk. as he's having a little dig at you cos you don't appear to be very well informed, so an umbrella is a safer option - but it does suck from a taxation point of view.
2. Read some beginners guides from this site, Nixon Williams, SJD Accountancy, and get back with specific questions.
A Ltd company is a serious undertaking and you need to acquire some knowledge fast.Comment
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Originally posted by speling bee View PostAt this point I would suggest you:
1. Don't worry too much about northernladuk. as he's having a little dig at you cos you don't appear to be very well informed, so an umbrella is a safer option - but it does suck from a taxation point of view.
2. Read some beginners guides from this site, Nixon Williams, SJD Accountancy, and get back with specific questions.
A Ltd company is a serious undertaking and you need to acquire some knowledge fast.
3. If you go Ltd, get an accountant; don't attempt to go it alone, you'll be lost at sea (OP specifically). But umbrellas are far easier, you may find it suits you much better...Comment
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Originally posted by captainham View PostYou also missed:
3. If you go Ltd, get an accountant; don't attempt to go it alone, you'll be lost at sea (OP specifically). But umbrellas are far easier, you may find it suits you much better...The material prosperity of a nation is not an abiding possession; the deeds of its people are.
George Frederic Watts
http://en.wikipedia.org/wiki/Postman's_ParkComment
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Originally posted by speling bee View PostThe OP should get 3 from 2.Comment
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Originally posted by captainham View PostYou're right, but you potentially underestimate OP's ability to figure that one out...The material prosperity of a nation is not an abiding possession; the deeds of its people are.
George Frederic Watts
http://en.wikipedia.org/wiki/Postman's_ParkComment
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Starting out in contracting? Go umbrella first, then go Ltd. IMO. Cba to explain why, but it's just my thoughts. I went brolly for first three months (didn't claim expenses, etc), then went Ltd. Best decision I ever made as it gave me time to concentrate on my deliverables and new non-permie mentality for the first few months, and gave me time to really learn about my responsibilities as a Limited Company Director.Comment
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