Get money in my Business Account, then what??

[chris79]

Post in the accounting/legal section of this board and ask recommendations for an accountant.. it will cost you anything between ~£70-140? a month and they will process a payroll for you or get the money out through other means such as dividends.

There's a whole host of other things you need to be doing with your limited company and if you are asking basic questions like this then an accountant is your only hope to get it right.

[pmeswani]

Please help me!
I have set up a limited company and I'm the only director/employee in the company. I sent an invoice to my first customer and get paid £900 in my HSBC Business Account.

I don't know what's to do next, can I withdraw those money? Or how can I get the most benefit from tax?

Thank you very much!
BEC

Just out of interest.... are you invoicing weekly or monthly? If monthly, is it really worth having a Ltd Company for £6 an hour? You should have gone Umbrella and save yourself the hassle.

Have you registered for PAYE? What about VAT? If the £900 is a monthly invoice amount and includes VAT, then your hourly rate is shocking and below minimum wage... If it is weekly.... again I refer to my original point about whether you should be with an Umbrella.

Speak to an accountant and get your company in order and get a plan sorted out.

[Paddy]

Please help me!
I have set up a limited company and I'm the only director/employee in the company. I sent an invoice to my first customer and get paid £900 in my HSBC Business Account.

I don't know what's to do next, can I withdraw those money? Or how can I get the most benefit from tax?

Thank you very much!
BEC

Do what all good contractors do.
Take the cash out and go down the casino and play blackjack and roulette. Keep back £100 for emergency use so you can pop into the massage parlour on the way home.

When the tax bills come in borrow from your credit card.

[cojak]

It's been childish ever since I joined, long may it stay that way

You say the nicest things, DS.

[DiscoStu]

You say the nicest things, DS.

[TheFaQQer]

You say the nicest things, DS.

Get a room!

Preferably not at the Travel Tavern at Chievely services, though, by all accounts.