Currently with Umbrella but want to go Ltd

[radgid]

Hi all,

I am currently with Umbrella company till April/08 and want to form my Ltd now (in two weeks) so that I can smoothly switch to Ltd when new contract comes. Is there any legal issue that prevents me to start the Ltd before my Contract through Umrella ends? I mean do I have to wait with forming the Ltd, creating the business account till my current contract is over (due to PAYE, VAT etc?)

Thank you for the info.

Rado

[Gonzo]

Hi all,

I am currently with Umbrella company till April/08 and want to form my Ltd now (in two weeks) so that I can smoothly switch to Ltd when new contract comes. Is there any legal issue that prevents me to start the Ltd before my Contract through Umrella ends? I mean do I have to wait with forming the Ltd, creating the business account till my current contract is over (due to PAYE, VAT etc?)

Thank you for the info.

Rado

There is no reason not to do this. Your company would be an entirely different legal entity to yourself personally and it is important that you do not get that distinction muddled up.

I suggest you need to read up the first timer guides such as the one on this website and the one on the Professional Contractors Group ASAP.

[DaveP]

The Sooner you get started setting up the better.

creating Ltd company can be done in a day,

bank accounts & VAT reg number take a while longer.

[sidknows]

you are better off getting started now as you will want to make sure that all the registrations are in place ie vat , paye

[radgid]

Thank you all.

Do you know by any chance if a big accountancy such as SJD etc. can handle my specific needs as follows:

- Employing my wife as a Secretary of my Ltd.
- buying equipment (PC) for my Ltd - is there a limit on how much can be spent (I need something for the database to be run and want to spend 1200 quid)
- claiming part of the rent as an expense as one room is used as an office

A friend of mine recommended me an accountant which has a few clients and can probably invest more time in my company accounts.

What do you think?

Thanks.

Rado

[r0bly0ns]

That sounds very similar to our setup, only we have 2 directors and my wife as secretary.

We decided on Uptons, they guided us through the setup process, buying equipment and setting up a standing order from the company bank account to pay each of the directos rent for the home offices.

[Ardesco]

Thank you all.

Do you know by any chance if a big accountancy such as SJD etc. can handle my specific needs as follows:

- Employing my wife as a Secretary of my Ltd.
- buying equipment (PC) for my Ltd - is there a limit on how much can be spent (I need something for the database to be run and want to spend 1200 quid)
- claiming part of the rent as an expense as one room is used as an office

A friend of mine recommended me an accountant which has a few clients and can probably invest more time in my company accounts.

What do you think?

Thanks.

Rado

Sounds like standard contractor needs tbh. I would expect any big accountancy that specialises in contractors to be able to do this without even blinking.

That being said I would expect any decent accountant to do it too.

[tricknot]

Us too; similar scenario to r0bly0ns with similar expense requirements; we went with Uptons and found the setup process and ongoing advice to be great.

[Sausage Surprise]

One vote for NW here

[radgid]

Thank you again.