Keep Ltd going whilst going perm?

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goldmanwheelbarrows replied

25 April 2010, 12:52
Originally posted by gingerjedi View Post

I know this has been asked before but I can't seem to find the right search criteria to get an answer.

What happens if I go perm but want to keep the ltd going for the odd job? As far as I can see the only cost is the companies house return and a year end accountant if it gets complicated.

Can I just give myself one big dividend or is there a requirement for the director to have a salary?

It might be advised to shutdown the company and claim entrepreneurs relief.

I'm not an accountant. I don't know how much money you have in business. But do get advice
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SueEllen replied

23 April 2010, 21:31
Originally posted by ASB View Post

If you do go perm check your employment contract, it could preclude this activity (whether that would ever stick is a different matter).

Depending who you go perm with negotiate and get the clause removed from, or altered in the contract but be reasonable i.e. you can't work for direct competitors of a similar size.

Depending on what you do you do, you don't want your employer claiming your work as theirs and that includes work not done for commercial gain i.e. working on open source projects.
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ASB replied

23 April 2010, 19:41
Originally posted by gingerjedi View Post

I know this has been asked before but I can't seem to find the right search criteria to get an answer.

What happens if I go perm but want to keep the ltd going for the odd job? As far as I can see the only cost is the companies house return and a year end accountant if it gets complicated.

Can I just give myself one big dividend or is there a requirement for the director to have a salary?

If the LTD is truly dormant then there is no need for accounts to be filed, just a dormant return. If there is any activity - trading or otherwise - then statutory accounts need to be filed. Of course if they are simple (likely to be) and you can be bothered this is pretty much zero cost.

There is no requirement for the director to have a salary. But, if the director happens to have a service contract then NMW has to be paid for the hours worked under that service contract.

If you do go perm check your employment contract, it could preclude this activity (whether that would ever stick is a different matter).
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MarillionFan replied

23 April 2010, 17:21
You answered your own question in the first statement.

Just use it as you need it and divvies accordingly
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gingerjedi started a topic Keep Ltd going whilst going perm?

23 April 2010, 16:47
Keep Ltd going whilst going perm?

I know this has been asked before but I can't seem to find the right search criteria to get an answer.

What happens if I go perm but want to keep the ltd going for the odd job? As far as I can see the only cost is the companies house return and a year end accountant if it gets complicated.

Can I just give myself one big dividend or is there a requirement for the director to have a salary?
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