Originally posted by Stag Cozier
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Reply to: ltd help
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Previously on "ltd help"
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Originally posted by MarillionFan View PostGood luck. Don't get suckered into paying your accountant a fortune for setting up a LTD. You can use an internet broker to do it for just a few quid. Do some more research on this forum for recommendations.
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Also ask him about the flat rate VAT scheme. This is extra profit you wouldn't otherwise see if you went brolly. I love free money!
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Originally posted by rocketron View PostSo we are going limited after taking advice from a friend (Accountant), I have an early appointment with him in the morning i just hope I'm going to be better off than using a umbrella.
this has been a very stressfull day.....
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So we are going limited after taking advice from a friend (Accountant), I have an early appointment with him in the morning i just hope I'm going to be better off than using a umbrella.
this has been a very stressfull day.....
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Originally posted by rocketron View Postjust been offered a new contract but the agents wont use my umbrella company as it has an off shore element. now i am thinking of going down the route of a LTD but im not sure if im going to be better off or should i use another umberlla such as CXC?
Why would you spend more with them as your employer?
If you would not be spending more, why would you claim more expenses?
If you haven't incurred £200 in costs why would the umbrella company process that figure as an expense?
If you haven't incurred £200 in costs but the umbrella company still process that figure as an expense, which will reduce your tax liability, would it be likely that HMR&C would 'approve' such a practise.
If HMR&C haven't approved such a scheme who do you think will bear the brunt of their wrath should they discover that such a scheme has been operated without their approval?
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generally speaking
you will be better off (more money) with a ltd
you will be better off (less paperwork) with an umbrella
what is more important to you - cash and control or time?
personally i couldn't face the idea of paying someone to do paperwork i can do myself.
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income: umbrella < ltd < offshore
hmrc investigation risk: umbrella < ltd < offshore
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ltd help
just been offered a new contract but the agents wont use my umbrella company as it has an off shore element. now i am thinking of going down the route of a LTD but im not sure if im going to be better off or should i use another umberlla such as CXC?Last edited by rocketron; 21 October 2010, 12:48.Tags: None
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