Fellow Contractors,
I am planning to enter into untested waters of contracting world very soon. Have got a contract very soon so for now I have gone through an umberalla company. I believe most people go via the limited company route as this lets you make substantially more money. Now consider me a person who knows almost nothing about opening my own limited company but want to open one so I too can pocket more money. So here I need your help and I will really appriciate if you can share your experiences and knowledge. I need information about following:
a) how to open my own limited company. What does it involve. What all different types of forms(yearly and monthly or while opening the company) I will have to fill up. Who can help me do this and what are the things I will have to do.
b) Whom all I should employee? Seceratry (can be my wife I guess) , I can be a director I guess. What are the pros and cons of myself or anybody else being the director as it will be only me who will be doing the contracting.
c) What are the nitty-gritties of opening my own limited company. How will I be able to make more money as compared to when I am with an umberalla company. What are the tricks(legal) which makes you save more.
I will really appriciate if you can help me understand all this about opening my own limited company. Wish I had a friend who was already doing this but I dont. So needs your help in these strange waters which I am more than willing to get into.
Many thanks.
I am planning to enter into untested waters of contracting world very soon. Have got a contract very soon so for now I have gone through an umberalla company. I believe most people go via the limited company route as this lets you make substantially more money. Now consider me a person who knows almost nothing about opening my own limited company but want to open one so I too can pocket more money. So here I need your help and I will really appriciate if you can share your experiences and knowledge. I need information about following:
a) how to open my own limited company. What does it involve. What all different types of forms(yearly and monthly or while opening the company) I will have to fill up. Who can help me do this and what are the things I will have to do.
b) Whom all I should employee? Seceratry (can be my wife I guess) , I can be a director I guess. What are the pros and cons of myself or anybody else being the director as it will be only me who will be doing the contracting.
c) What are the nitty-gritties of opening my own limited company. How will I be able to make more money as compared to when I am with an umberalla company. What are the tricks(legal) which makes you save more.
I will really appriciate if you can help me understand all this about opening my own limited company. Wish I had a friend who was already doing this but I dont. So needs your help in these strange waters which I am more than willing to get into.
Many thanks.
