New limited company

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sukalyan replied

22 March 2010, 16:45
Originally posted by malvolio View Post

Nothing to do with doubting talents, quite a lot to do with why you would want to do it in the first place. As BB says you won't save accoutning fees, you will still have to do the tax calculations and pay the money, you will have to get HMRC approval to close down the company - which may not be granted - and you weill have a legally binding set of responsibilites. Plus opening a company with the intention of closing it down in a very short time doesn't say to me, and will not say to HMRC, that you are looking at doing this for the right reasons.

Hence my original answer - I suggest you don't bother.

Thanks a lot for your suggestion
Leave a comment:
malvolio replied

22 March 2010, 16:34
Nothing to do with doubting talents, quite a lot to do with why you would want to do it in the first place. As BB says you won't save accoutning fees, you will still have to do the tax calculations and pay the money, you will have to get HMRC approval to close down the company - which may not be granted - and you weill have a legally binding set of responsibilites. Plus opening a company with the intention of closing it down in a very short time doesn't say to me, and will not say to HMRC, that you are looking at doing this for the right reasons.

Hence my original answer - I suggest you don't bother.
Leave a comment:
BolshieBastard replied

22 March 2010, 16:23
Originally posted by sukalyan View Post

why you have doubt on other's talent .

Cos Im a bolshie bastard, that's why.

Seriously, can you not work out the set up costs of an ltd co? Can you not realise irrespective of whether the company trades for 4 months, 8 months or 12 months, the accountancy fees will be broadly the same and that these will be hundreds of pounds if not close to a thousand?
Leave a comment:
sukalyan replied

22 March 2010, 16:08
Originally posted by BolshieBastard View Post

Oh dear. How do these people get jobs!?

why you have doubt on other's talent .
Leave a comment:
BolshieBastard replied

22 March 2010, 16:00
Originally posted by sukalyan View Post

Hi,
I am new to contacting . I am working under umbrella company right now. i am planning to open an limited company now. If I will close that company after 4 months , what are the legal complexity and cost involve. please suggest.

Best Regards,
Sukalyan

Oh dear. How do these people get jobs!?
Leave a comment:
Clare@InTouch replied

22 March 2010, 15:43
Originally posted by malvolio View Post

I suggest you don't bother.

HTH

Agreed - the costs in opening, running and closing the company will outweigh the tax benefits.
Leave a comment:
malvolio replied

22 March 2010, 15:32
I suggest you don't bother.

HTH
Leave a comment:
sukalyan started a topic New limited company

22 March 2010, 15:24
New limited company

Hi,
I am new to contacting . I am working under umbrella company right now. i am planning to open an limited company now. If I will close that company after 4 months , what are the legal complexity and cost involve. please suggest.

Best Regards,
Sukalyan
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