Software Development contract for US co - questions

[VectraMan]

A Ltd doesn't have to cost more than a token amount to set up and run - you can create it for £50 or less and I think renew your company status for about £20 a year if you do your own accounts.

WHS. £14 a year for the annual return, and if you get free banking that's all it costs. Most people here think a Ltd. is a terrifying thing that only an accountant can wrangle, but as you won't need PAYE or VAT there's little to actually do other than the year end accounts, and in your case that should be as simple as simple can be.

I think as a sole trader (or as an employee) you'll always be stuck being taxed in the tax year you earn the money, whereas with a Ltd. you could wait until it suits you.

[fatmcgav]

WHS. £14 a year for the annual return, and if you get free banking that's all it costs. Most people here think a Ltd. is a terrifying thing that only an accountant can wrangle, but as you won't need PAYE or VAT there's little to actually do other than the year end accounts, and in your case that should be as simple as simple can be.

I think as a sole trader (or as an employee) you'll always be stuck being taxed in the tax year you earn the money, whereas with a Ltd. you could wait until it suits you.

VectraMan, cheers again.

I guess I need to decide when I need the money, and then look at the most efficient route to that purpose.

What about going the Ltd route, and then dissolve in a year or so and pay CG rather than higher rate IT?

[Scrag Meister]

Suitcase of cash in Café Nero at Euston station every other Thursday at 3p.m.

Seriously though as others have said with such a small amount you may as well just be self employed, and pay the necessary tax in that way.

Wouldn't, IMHO, be efficient/cost effective to bother with a company and accountant etc.....

[fatmcgav]

Suitcase of cash in Café Nero at Euston station every other Thursday at 3p.m.

Seriously though as others have said with such a small amount you may as well just be self employed, and pay the necessary tax in that way.

Wouldn't, IMHO, be efficient/cost effective to bother with a company and accountant etc.....

Hehe, may have fun swinging that one...

Am trying to find out more about the going through the UK SI to see how they plan on handling it, so will see what comes of that.

Cheers
Gav

[fatmcgav]

Evening all

Right, things are progressing along...

Have progressed the requirements, and re-estimated based on said requirements at ~110 hours.
Have been asked to put it in on a fixed-price basis rather than hourly, so as to provide a bit of protection to US co against over-runs etc, which I'm happy enough about as this is my first time doing this...

Have had a discussion with the UK SI, and it seems like they're expecting to use me as a contractor rather than a permie. Therefore I will still need to be in a position to be contracted by the UK SI, be that as a Sole Trader or a Ltd...

This then raises the question of "Is it worth going through the UK SI if I can contract direct to US co after registering MyCo?"
The only value I can see them adding currently is their experience, and off-the-shelf SOW/MSA documents...

I've been googling a bit to try and find a pro-forma SOW/MSA, however am struggling. Does anyone have a resource they've used before?
I'm leaning to doing it myself if I can get pro-forma documents and fill them out myself, with probably a bit of legal ratification.

Cheers again.
Gav