Reply to: Freelance deisgner going Ltd

[davestewart]

Mooooooonnnnnnkkkkkkeeeeeeeyyyyyyyy...

[TheMonkey]

I don't use this site currently as I go under my other moniker which you'll find if you actually click something... (none taken)

Oh you can click those!

Sorry I'm back from the old days where HTML was a convenient way of distributing information and all links were underlined.

[davestewart]

I don't use this site currently as I go under my other moniker which you'll find if you actually click something... (none taken)

[TheMonkey]

I'm pretty happy with : www.davestewart.co.uk

Apart from the fact I got bored on the first page - looks like one of those crappy pixel sites (no offense). It's better than my site though so I shouldn't complain

[davestewart]

I'm pretty happy with : www.davestewart.co.uk

[TheMonkey]

There's always the domain name to be considered when picking a company name.

davidstewart.ltd.uk

No match for "davidstewart.ltd.uk".

This domain name has not been registered.

WHOIS lookup made at 11:03:57 15-May-2006

[ASB]

Some good advice there, thanks ASB.

One last question to round things off: I can't really be bothered to think up some fancy company name - I think I'd be happy with Dave Stewart Ltd, if I pass all the other tests (as we discussed).

Do you see any problems with that? I was worried that the IR might think they were smelling a rat, but if I'm legit I don't see why I should have to "rename" just because I'm going Ltd.

Cheers again,
Dave

It is common (but by no means essential) to incorporate "off the shelf" with whatever name is going. Subsequently you change. You can check what is registered at companies house on line. Your suggested name is currently available, but if you do anything musical might have problems with "passing off" because "Dave Stewart Drums" is already incorporated.

[Pondlife]

IMHO, consider:

David Stewart Limited

Rather than

Dave Stewart Ltd

Instantly turns to class!

There's always the domain name to be considered when picking a company name.

[TheMonkey]

IMHO, consider:

David Stewart Limited

Rather than

Dave Stewart Ltd

Instantly turns to class!

[davestewart]

Some good advice there, thanks ASB.

One last question to round things off: I can't really be bothered to think up some fancy company name - I think I'd be happy with Dave Stewart Ltd, if I pass all the other tests (as we discussed).

Do you see any problems with that? I was worried that the IR might think they were smelling a rat, but if I'm legit I don't see why I should have to "rename" just because I'm going Ltd.

Cheers again,
Dave

[ASB]

Ha ha ... well it wasn't exactly like that. The work was gained through an agency, so I have 2 options: 1) Get paid PAYE through the agency, 2) Incorporate and get paid direct. This time around I woudl prefer to go this route if poss.

Re: your second answer - thanks. Hopefully the IR can tell me on Weds.

Fair enough, essentially because it's an agency S134 will force them down that road. But what you actually wrote was "The latest company I've worked for wants me to go Ltd before they'll pay me"

Looking to Weds there is no way on earth the IR will tell you that you are outside. [In fact they will NEVER tell you that, merely give you an opinion]. They will not give an opinion unless you send in contract for review -general advice is NEVER DO THIS.

One thing you might wish to consider is that one of the biggest pointers to being self employed is previously being accepted as such by the revenue. If you are generally happy to carry on being self employed one strategy used by a number of people is:-

- Use the Ltd to get agency work.
- Ltd subcontracts that work to the the individual (who has bid with an appropriate set of T&C's)

In general the IR appear to be happy with this, mainly because the difference between their take is not particularly large. The s/e person is paying tax on the entire profit and NI at the appropriate rate.

IR35 is not really about tax - where the losses are small. It's really about NI because remuneration via divis results in no NI payment at all.

Tell us how Weds. goes.

[davestewart]

So, you've agreed the work, done it and now they say "you've got to go incorporate mate". I think my next stop would be he country coourt not the local company formation agents.

Ha ha ... well it wasn't exactly like that. The work was gained through an agency, so I have 2 options: 1) Get paid PAYE through the agency, 2) Incorporate and get paid direct. This time around I woudl prefer to go this route if poss.

Re: your second answer - thanks. Hopefully the IR can tell me on Weds.

[TheMonkey]

I tend to have either 2 concurrent things or nothing going on plus I have permanent research interests (non booked time goes down as research).

[ASB]

The latest company I've worked for wants me to go Ltd before they'll pay me. Because of my working practices, I think I'm outside of IR35. Is that right?

So, you've agreed the work, done it and now they say "you've got to go incorporate mate". I think my next stop would be he country coourt not the local company formation agents.

s/e Definitiely no IR335. From your description of yoour work patrern incorporated you're probably OK but you can never tell.

[malvolio]

Forgot to mention - £120 basic, £220 for the full deal. Immediate benefits worth around £1000 on the open market.

JFDI...