Can anyone recommend the best way to work if you have a perm position but do say 30-40 hours freelance on the side each month. Would it be best to go limited or work in another way.
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Best way to work
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Depends how much you get paid.
At 400 ish hours a year the accounting fees may not make the savings you'd get from a Ltd worth it. Expecially when your lower tax band is eaten up by your permie job.
Go umbrella or self employed. -
Originally posted by SockpuppetDepends how much you get paid.
At 400 ish hours a year the accounting fees may not make the savings you'd get from a Ltd worth it. Expecially when your lower tax band is eaten up by your permie job.
Go umbrella or self employed.
Isn't his lower tax band used up whichever route he goes?
Also, accounting fees shouldn't be very much - I pay about 550. I've never used an umbrella, but is that really more than an umbrella will cream off from the 10K or 20K he earns? I'd like to know.
The other thing is that many client's insist on some kind of limited liability, which would rule out self-employed, although I don't know if that's true in his case.Comment
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Originally posted by wendigo100Also, accounting fees shouldn't be very much - I pay about 550.
My accountant is charging £1200/yearComment
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I think a lot depends on how much you do.
I dont pay that much to the accountant becuase they do very little (the odd bit of advice etc.) but all the paperwork is handled by me. All entered into sage accounts, all invoices and reciepts in date order so its easy for him to check etc.
He also doesnt do payroll or other stuff that I don't need.Comment
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Originally posted by SockpuppetI think a lot depends on how much you do.
I dont pay that much to the accountant becuase they do very little (the odd bit of advice etc.) but all the paperwork is handled by me. All entered into sage accounts, all invoices and reciepts in date order so its easy for him to check etc.
He also doesnt do payroll or other stuff that I don't need.Comment
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Originally posted by andyIf possible could you pm me your accountant's number
My accountant is charging £1200/yearComment
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Originally posted by KyajaeSockPuppet - re accountant - did you follow up the recommendation I gave you?Comment
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Originally posted by SockpuppetNah. I'm going to split at YE as I'd end up paying more as both accountatns wanted fees for months already gone by.Comment
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Originally posted by SockpuppetI think a lot depends on how much you do.
I dont pay that much to the accountant becuase they do very little (the odd bit of advice etc.) but all the paperwork is handled by me. All entered into sage accounts, all invoices and reciepts in date order so its easy for him to check etc.
He also doesnt do payroll or other stuff that I don't need.Comment
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